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Securitisation Of Insurance Risk
by Dr Alan Punter
The insurance markets and capital markets have long been bedfellows. Insurance and reinsurance companies regularly use the capital markets to issue loans and raise equity. Also insurance companies (both life and general) have substantial funds to invest, and many have fund management operations that feature in the major league tables of asset managers. What is new is the direct participation of the capital markets in underwriting risk, through insurance derivatives and catastrophe bonds - the so-called securitisation of insurance risk.
The full paper has been published in Adobe Acrobat format. If you already have Adobe Acrobat installed, click here to view the paper. (83Kb)
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