Aimed against the changes of international insurance industry, through the analysis of the characters and the enlarging trend of the catastrophe risk, this paper preliminarily considers on the securitization of catastrophe insurance both in theory and practices ,on the basis of the discuss of the existing limitations of the traditional reinsurance towards the risk-scatter of the catastrophe insurance, using the international idea of the advanced insurance innovation and risk property-manage for reference.
The paper discusses the impact of traditional reinsurance to stock income by introducing the leverageto the reserved capital of listed insurance companies, and demonstrates how to adjust the stock incomeby the change of reserved capital.
On the basis of building the concept system of flood insurance bond, this article expatiates the differences between the general bond and traditional reinsurance bond.
Finance reinsurance differentiate the three risks exist in traditional reinsurance-underwriting risk, timerisk and investment risk, finance reinsurance limit die risk in the reinsurance contract, the reinsurer onlytake on small part of risks or almost non risks.
As the loss caused by catastrophic risk (CR) becomes increasingly severe, reinsurance alone is no longer able to meet the demand of catastrophic insurance. The international insurance industry has begun to transfer the CR to the capital market, and the securitization of CR has become a new tendency.
Compared to reinsurance,the catastrophe bonds have some endogenous advantages which come form system design, such as low cost, none default risk, low information asymmetry, improving insurance company’s liquidation ability and the efficiency of market.
Finite risk reinsurance is a generic term used to describe an entire spectrum of reinsurance arrangements that share limited risk for a limited amount of premium. As a kind of ART,finite risk reinsurance is different from traditional re- insurance as well as from financial reinsurance.
有限风险再保险是以有限保费支出为代价获得有限风险转移的一类再保险安排,它属 ART 的一种,既有别于传统再保险,也与财务再保险不同。
These might provide an alternative to traditional reinsurance, although the cost advantage will vary throughout the insurance underwriting cycle.
例句来源
Since the moral hazard,the adverse selection and the credit hazard problems and so on,exist in traditional (re)insurance,it is difficult to disperse the flood hazard effectively. Therefore,it is necessary to find an effectual financial tool to transfer the flood hazard to the capital market.On the basis of building the concept system of flood insurance bond, this article expatiates the differences between the general bond and traditional reinsurance bond.From the view of economics and actuarial science...