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Vol 21 No 10 Oct/Nov 2016

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Criminal Injuries Compensation Claims

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Insurance Risk Securitization 2nd ed

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ISBN13: 9781855649835
ISBN: 1855649837
Published: September 2001
Publisher: Euromoney Institutional Investor
Country of Publication: UK
Format: Paperback
Price: £250.00



Despatched in 12 to 14 days.

Reactions' best-selling management report has been brought completely up-to-date with material reflecting the Insurance Risk Securitisation market as it is today. Written and edited by experts in the field, there are detailed chapters on a range of important issues.

Taking the view of both issuers and investors, this new management report covers:

  • Introduction to the securitisation market, SPCs
  • CAT bonds, the ABS and MBS markets, listed options & exchanges, development of the Japanese market
  • Modelling and pricing CAT bonds
  • The value of insurance risk, portfolio theory and modelling
  • The role of the rating agencies
  • The major legal issues
  • Convergence and the future of the market

    Investors' appetite for risk is growing, while insurers and reinsurers are eager to search out new sources of risk financing. Current trends point to a continued expansion of insurance securities - making this book essential reading for investors, issuers, rating agencies and advisors who need to keep up with market developments.

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Contents:
Chapter 1: Overview
Size of the re-insurance market
A varied fallout
Capital markets
ILS part of rise of new investment products
Moves towards securitisation
ILS- product categories
CAT Bonds
Life securitization
Levels of acceptance, investor demand
Overview
Chapter 2: Introduction to catastrophe bonds
Recent history
CAT bonds
Advantages, disadvantages to CAT bonds
CAT bonds part of a larger scheme
Case studies
Catastrophe bonds and the corporate sector
Chapter 3: Securitization
Introduction
Advantages of securitization
Present trends
Chapter 4: Recent developments in the risk-linked securities market
Introduction
Swiss Re boosts Cat bond market
Prudential Financial’s securitization
MONY gets life from closed block
Scor finds new Horizon
Swiss Re packages risks
Chapter 5: Pricing and investment in insurance risk
Introduction
Insurance risk in portfolios
The question of pricing
Chapter 6: Models and modelling for pricing risk
Model risk
Categories for pricing models
Date or uncertainty in modelling
Interpretation of data
The top three modelling firms
Chapter 7: Investors and the ratings agencies
Introduction
How rating agencies assess risk
How insurance risks are rated
Chapter 8: Practical aspects of modelling and pricing catastrophe bonds
Introduction
Engineering modelling
Event loss table and exceedance probability curve
Indemnity, modelled loss and parametric bonds
Numerical risk simulation
Pricing
Chapter 9: Legal issues
What are ILS?
SPV laws
Chapter 10: Convergence and the future
Introduction
Investors
Alternate exchanges
Tax considerations
Accounting
Afterword
Appendix
Bibliography