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Author: Florian Steiger Publisher: Independently Published ISBN: Category : Languages : en Pages : 94
Book Description
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.
Author: Florian Steiger Publisher: Independently Published ISBN: Category : Languages : en Pages : 94
Book Description
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.
Author: J. David Cummins Publisher: World Bank Publications ISBN: 0821377361 Category : Political Science Languages : en Pages : 299
Book Description
'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.
Author: Kenneth A. Froot Publisher: University of Chicago Press ISBN: 0226266257 Category : Business & Economics Languages : en Pages : 490
Book Description
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.
Author: William Jordan Publisher: Houghton Mifflin Harcourt ISBN: 9780618382286 Category : Biologists Languages : en Pages : 210
Book Description
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.
Author: John Bradshaw Publisher: Basic Books (AZ) ISBN: 0465031013 Category : Pets Languages : en Pages : 337
Book Description
Cats have been popular household pets for thousands of years, and their numbers only continue to rise. Today there are three cats for every dog on the planet, and yet cats remain more mysterious, even to their most adoring owners. Unlike dogs, cats evolved as solitary hunters, and, while many have learned to live alongside humans and even feel affection for us, they still don’t quite “get us” the way dogs do, and perhaps they never will. But cats have rich emotional lives that we need to respect and understand if they are to thrive in our company. In Cat Sense, renowned anthrozoologist John Bradshaw takes us further into the mind of the domestic cat than ever before, using cutting-edge scientific research to dispel the myths and explain the true nature of our feline friends. Tracing the cat’s evolution from lone predator to domesticated companion, Bradshaw shows that although cats and humans have been living together for at least eight thousand years, cats remain independent, predatory, and wary of contact with their own kind, qualities that often clash with our modern lifestyles. Cats still have three out of four paws firmly planted in the wild, and within only a few generations can easily revert back to the independent way of life that was the exclusive preserve of their predecessors some 10,000 years ago. Cats are astonishingly flexible, and given the right environment they can adapt to a life of domesticity with their owners—but to continue do so, they will increasingly need our help. If we’re to live in harmony with our cats, Bradshaw explains, we first need to understand their inherited quirks: understanding their body language, keeping their environments—however small—sufficiently interesting, and becoming more proactive in managing both their natural hunting instincts and their relationships with other cats. A must-read for any cat lover, Cat Sense offers humane, penetrating insights about the domestic cat that challenge our most basic assumptions and promise to dramatically improve our pets’ lives—and ours.
Author: Sarah Chauncey Publisher: Sounds True ISBN: 1683646983 Category : Self-Help Languages : en Pages : 0
Book Description
“P.S. I Love You More Than Tuna is both a lighthearted celebration of the loving bond between human and cat, and a touching meditation on the eternal nature of that love.” —Jackson Galaxy, host of Animal Planet’s My Cat From Hell An illustrated gift book for adults grieving a companion cat, celebrating the often-quirky bond between humans and felines. Our cats occupy a unique space in our hearts. When they’re gone, the loss can be devastating, the grief profound. P.S. I Love You More Than Tuna gives us an opportunity to give friends, loved ones, or ourselves tangible comfort during the grieving period, when so many of us feel isolated and misunderstood after a beloved pet dies. The author and illustrator (devoted cat lovers themselves) offer this book as a universal love letter from the felines we've bid goodbye to. It celebrates the special bonds we forge with our four-legged companions and reminds us that their love for us—and ours for them—need never end.
Author: Tobias Götze Publisher: Cuvillier Verlag ISBN: 3736963785 Category : Business & Economics Languages : en Pages : 194
Book Description
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.
Author: Janet Alger Publisher: Temple University Press ISBN: 1439907722 Category : Nature Languages : en Pages : 256
Book Description
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.
Author: OECD Publisher: OECD Publishing ISBN: 9264803076 Category : Languages : en Pages : 138
Book Description
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: Vinod Kothari Publisher: John Wiley & Sons ISBN: 0470821957 Category : Business & Economics Languages : en Pages : 1025
Book Description
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.
Author: Florian Steiger
Author: Florian Steiger
Author: J. David Cummins
Author: Kenneth A. Froot
Author: William Jordan
Author: John Bradshaw
Author: Sarah Chauncey
Author: Tobias Götze
Author: Janet Alger
Author: OECD
Author: Vinod Kothari