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Cat Bonds
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Download or read book Cat Bonds written by Florian Steiger and published by Independently Published. This book was released on 2020-11-30 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investors across the globe are struggling to generate returns in a world of sub-zero interest rates. Macroeconomic events have the potential to shock financial markets from equities to corporate or government bonds alike. The traditional methods of portfolio diversification are failing in a world characterized by unprecedented liquidity injections from central banks. Cat bonds offer a viable alternative: Their performance is linked to the occurrence of natural catastrophes, such as hurricanes or earthquakes, instead of corporate profits or stock market sentiment. Family offices and leading institutional investors are shifting billions of assets into these little-known instruments thus effectively becoming competitors to the traditional providers of reinsurance coverage. With steady returns of more than 7% per annum over the past twenty years, cat bonds have proven their resilience many times. This book takes the reader through the history of the asset class, outlines the basic structure and economics before demonstrating the benefit of adding a cat bond allocation to a traditional multi-asset portfolio.
Book Synopsis Catastrophe Risk Financing in Developing Countries by : J. David Cummins
Download or read book Catastrophe Risk Financing in Developing Countries written by J. David Cummins and published by World Bank Publications. This book was released on 2009 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.
Book Synopsis The Challenges of Catastrophe Risk Management: Empirical Analyses in the CAT Bond Market by : Tobias Götze
Download or read book The Challenges of Catastrophe Risk Management: Empirical Analyses in the CAT Bond Market written by Tobias Götze and published by Cuvillier Verlag. This book was released on 2021-03-22 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to the increasing relevance of natural catastrophes as a significant global source of risk and the capacity constraints in primary insurance and reinsurance markets, CAT bonds have become an important instrument to manage catastrophe risks by transferring them to the capital market. In three empirical studies, this dissertation examines the challenges related to catastrophe risk management with CAT bonds. First, the factors that influence the substitution of traditional reinsurance by CAT bonds are identified. These factors consist of the insured risk layer and the extends of reinsurer default risk, basis risk, and asymmetric information. Second, the accessibility of the CAT bond market for (re)insurance companies is analyzed and the results exhibit the existence of barriers to market entry in the form of higher premiums being paid by less reputable and financially weaker CAT bond sponsors. The third empirical study shows that CAT bond sponsors are susceptible to moral hazard, but also that moral hazard can be successfully prevented by sufficient loss retention or by the use of non-indemnity CAT bonds. Altogether, this dissertation contributes to improving the understanding of the CAT bond market and the challenges of catastrophe risk management using CAT bonds.
Download or read book Securitization written by Vinod Kothari and published by John Wiley & Sons. This book was released on 2006-06-16 with total page 1025 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get a thorough explanation of the nuances of securitization in the global business market with this comprehensive resource. Synthetic securitization and structured products are revolutionizing the financial industry and changing the way banks, institutional investors, and securities traders do business both domestically and globally. Written by a top international trainer and expert on securitization, this book is an ideal way for all market practitioners, whether investors, bankers, or analysts, to ensure they understand the ins and outs of this practice.
Book Synopsis Routledge Handbook of Sustainable and Resilient Infrastructure by : Paolo Gardoni
Download or read book Routledge Handbook of Sustainable and Resilient Infrastructure written by Paolo Gardoni and published by Routledge. This book was released on 2018-12-17 with total page 1134 pages. Available in PDF, EPUB and Kindle. Book excerpt: To best serve current and future generations, infrastructure needs to be resilient to the changing world while using limited resources in a sustainable manner. Research on and funding towards sustainability and resilience are growing rapidly, and significant research is being carried out at a number of institutions and centers worldwide. This handbook brings together current research on sustainable and resilient infrastructure and, in particular, stresses the fundamental nexus between sustainability and resilience. It aims to coalesce work from a large and diverse group of contributors across a wide range of disciplines including engineering, technology and informatics, urban planning, public policy, economics, and finance. Not only does it present a theoretical formulation of sustainability and resilience but it also demonstrates how these ideals can be realized in practice. This work will provide a reference text to students and scholars of a number of disciplines.
Book Synopsis The Development Dimension Fostering Catastrophe Bond Markets in Asia and the Pacific by : OECD
Download or read book The Development Dimension Fostering Catastrophe Bond Markets in Asia and the Pacific written by OECD and published by OECD Publishing. This book was released on 2024-02-14 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report explores each of these conditions along with policy suggestions for fostering them, and discusses the development of multi-country CAT bonds in Asia and the Pacific.
Author :Insurance Information Institute Publisher :Insurance Information Inst. ISBN 13 :9780932387011 Total Pages :208 pages Book Rating :4.3/5 (87 download)
Book Synopsis I.I.I. Insurance Fact Book by : Insurance Information Institute
Download or read book I.I.I. Insurance Fact Book written by Insurance Information Institute and published by Insurance Information Inst.. This book was released on 1984 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Cat Named Darwin by : William Jordan
Download or read book A Cat Named Darwin written by William Jordan and published by Houghton Mifflin Harcourt. This book was released on 2003-11-12 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author describes his detachment from animals before meeting a cat whose failing health and winning personality shifted his scientific perspectives and brought about his understanding of the evolutionary significance of kinship.
Book Synopsis The Financing of Catastrophe Risk by : Kenneth A. Froot
Download or read book The Financing of Catastrophe Risk written by Kenneth A. Froot and published by University of Chicago Press. This book was released on 2007-12-01 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed $10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of $50 to $100 billion in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.
Book Synopsis At War with the Weather by : Howard C. Kunreuther
Download or read book At War with the Weather written by Howard C. Kunreuther and published by MIT Press. This book was released on 2011-08-19 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovative, long-term strategies for reducing vulnerability to large-scale natural disasters and for providing financial support for disaster victims. The United States and other nations are facing large-scale risks at an accelerating rhythm. In 2005, three major hurricanes—Katrina, Rita, and Wilma—made landfall along the U.S. Gulf Coast within a six-week period. The damage caused by these storms led to insurance reimbursements and federal disaster relief of more than $180 billion—a record sum. Today we are more vulnerable to catastrophic losses because of the increasing concentration of population and activities in high-risk coastal regions of the country. The question is not whether but when, and how frequently, future catastrophes will strike and the extent of damages they will cause. Who should pay the costs associated with catastrophic losses suffered by homeowners in hazard-prone areas? In At War with the Weather, Howard Kunreuther and Erwann Michel-Kerjan with their colleagues deliver a groundbreaking analysis of how we currently mitigate, insure against, and finance recovery from natural disasters in the United States. They offer innovative, long-term solutions for reducing losses and providing financial support for disaster victims that define a coherent strategy to assure sustainable recovery from future large-scale disasters. The amount of data collected and analyzed and innovations proposed make this the most comprehensive book written on these critical issues in the past thirty years.
Book Synopsis The Handbook of Insurance-Linked Securities by : Pauline Barrieu
Download or read book The Handbook of Insurance-Linked Securities written by Pauline Barrieu and published by John Wiley & Sons. This book was released on 2010-06-15 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Luca Albertini and Pauline Barrieu are to be congratulated on this volume. Written in a period where structured projects in finance are having a difficult time, it is worthwhile to return to the cradle of securitisation: insurance. Spread out over three parts (life, non- life, and tax and regulatory issues) the 26 chapters, written mainly by practitioners, give an excellent overview of this challenging field of modern insurance. Methodology and examples nicely go hand in hand. The overall slant being towards actual analyses of concrete products. No doubt this book will become a milestone going forward for actuarial students, researchers, regulators and practitioners alike." —Paul Embrechts, Professor of Mathematics and Director of RiskLab, ETH Zurich The convergence of insurance with the capital markets has opened up an alternative channel for insurers to transfer risk, raise capital and optimize their regulatory reserves as well as offering institutions a source of relatively liquid investment with limited correlation with other exposures. One of the financial instruments allowing for the cession of insurance-related risks to the capital markets is Insurance-Linked Securities (ILS). This book provides hands-on information essential for market participants, drawing on the insights and expertise of an impressive team of international market players, representing the various aspects and perspectives of this growing sector. The book presents the state of the art in Insurance-Linked Securitization, by exploring the various roles for the different parties involved in the transactions, the motivation for the transaction sponsors, the potential inherent pitfalls, the latest developments and transaction structures and the key challenges faced by the market. The book is organized into parts, each covering a specific topic or sector of the market. After a general overview of the ILS market, the Insurance-Linked Securitization process is studied in detail. A distinction is made between non-life and life securitization, due to the specificities of each sector. The process and all the actors involved are identified and considered in a comprehensive and systematic way. The concepts are first looked at in a general way, before the analysis of relevant case studies where the ILS technology is applied. Particular focus is given to: the key stages in both non-life and life securitizations, including the general features of the transactions, the cedant's perspectives, the legal issues, the rating methodologies, the choice of an appropriate trigger and the risk modeling, the particular challenges related to longevity securitization, the investor's perspective and the question of the management of a portfolio of ILS, the general issues related to insurance-linked securitization, such as accounting and tax issues, regulatory issues and solvency capital requirements. The book is accompanied by a website www.wiley.com/go/albertini_barrieu_ILS which will feature updates and additions to the various contributions to follow market developments.
Book Synopsis International Political Risk Management by : Theodore H. Moran
Download or read book International Political Risk Management written by Theodore H. Moran and published by World Bank Publications. This book was released on 2001-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this report is to present the ideas and experiences of some of the most distinguished practitioners from the investor, financial, and investment insurance communities in the world. To assist the reader, this volume's editor provides a brief overview to introduce each of the separate topics. Topics focus on the multiple pledge-of-shares problem; the preferred creditor status; breach of contract coverage in infrastructure projects, and OPIC modified expropriation coverage (using an Indonesian case study); securitizing political risk insurance; and cooperation, competition, and the "science of pricing" in the political risk insurance marketplace. -- Publisher description.
Book Synopsis Statistical Tools for Finance and Insurance by : Pavel Čižek
Download or read book Statistical Tools for Finance and Insurance written by Pavel Čižek and published by Springer Science & Business Media. This book was released on 2005 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: Statistical Tools in Finance and Insurance presents ready-to-use solutions, theoretical developments and method construction for many practical problems in quantitative finance and insurance. Written by practitioners and leading academics in the field, this book offers a unique combination of topics from which every market analyst and risk manager will benefit. Covering topics such as heavy tailed distributions, implied trinomial trees, support vector machines, valuation of mortgage-backed securities, pricing of CAT bonds, simulation of risk processes and ruin probability approximation, the book does not only offer practitioners insight into new methods for their applications, but it also gives theoreticians insight into the applicability of the stochastic technology. Additionally, the book provides the tools, instruments and (online) algorithms for recent techniques in quantitative finance and modern treatments in insurance calculations. Written in an accessible and engaging style, this self-instructional book makes a good use of extensive examples and full explanations. Thenbsp;design of the text links theory and computational tools in an innovative way. All Quantlets for the calculation of examples given in the text are supported by the academic edition of XploRe and may be executed via XploRe Quantlet Server (XQS). The downloadable electronic edition of the book enables one to run, modify, and enhance all Quantlets on the spot.
Book Synopsis CATASTROPHE INSURANCE by : JAGENDRA RANA
Download or read book CATASTROPHE INSURANCE written by JAGENDRA RANA and published by Blue Rose Publishers. This book was released on 2023-05-23 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Catastrophe insurance is different from other types of insurance from a business standpoint. It is difficult to estimate the total potential exposure to, and cost of, an insured loss, especially since a catastrophic event often results in an extremely large number of claims being filed at the same time. These catastrophes have had a severe impact on the entire economy and social lives. No country in the world is an exception to the rule of nature. So is India. India is a country that is highly vulnerable to major catastrophes. Rapid industrial development and urbanization coupled with effects of climate change has aggravated the disasters. No specific natural disaster policy is sold in India. It is part of regular fire insurance that covers damage to the property. India is witnessing a shift in climate patterns in various parts of the country. From this perspective, catastrophe risks such as natural disasters or acts of God pose a severe risk to insurance companies.
Book Synopsis Investing in Insurance Risk by : Alex Krutov
Download or read book Investing in Insurance Risk written by Alex Krutov and published by . This book was released on 2010 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Information on the types of these securities and the issues involved in their structuring, pricing, trading, and managing on a portfolio basis.
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations Publisher : ISBN 13 : Total Pages :288 pages Book Rating :4.3/5 (91 download)
Book Synopsis Catastrophe Bonds, Spreading Risk by : United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Download or read book Catastrophe Bonds, Spreading Risk written by United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations and published by . This book was released on 2002 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cat Culture written by Janet Alger and published by Temple University Press. This book was released on 2011-02-07 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even people who live with cats and have good reason to know better insist that cats are aloof and uninterested in relating to humans. Janet and Steven Alger contend that the anti-social cat is a myth; cats form close bonds with humans and with each other. In the potentially chaotic environment of a shelter that houses dozens of uncaged cats, they reveal a sense of self and build a culture—a shared set of rules, roles, and expectations that organizes their world and assimilates newcomers.As volunteers in a local cat shelter for eleven years, the Algers came to realize that despite the frequency of new arrivals and adoptions, the social world of the shelter remained quite stable and pacific. They saw even feral cats adapt to interaction with humans and develop friendships with other cats. They saw established residents take roles as welcomers and rules enforcers. That is, they saw cats taking an active interest in maintaining a community in which they could live together and satisfy their individual needs. Cat Culture's intimate portrait of life in the shelter, its engaging stories, and its interpretations of behavior, will appeal to general readers as well as academics interested in human and animal interaction.
