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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: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations Publisher: ISBN: Category : Catastrophe bonds Languages : en Pages : 288
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: Stefan Hochrainer Publisher: Springer Science & Business Media ISBN: 3835094416 Category : Business & Economics Languages : en Pages : 213
Book Description
Stefan Hochrainer develops a catastrophe risk management model. It illustrates which trade-offs and choices a country must make in managing economic risks due to natural disasters. Budgetary resources are allocated to pre-disaster risk management strategies to reduce the probability of financing gaps. The framework and model approach allows cross country comparisons as well as the assessment of financial vulnerability, macroeconomic risk, and risk management strategies. Three case studies demonstrate its flexibility and coherent approach.
Author: Ilan Kelman Publisher: Routledge ISBN: 1136653732 Category : Nature Languages : en Pages : 181
Book Description
When an earthquake hits a war zone or cyclone aid is flown in by an enemy, many ask: Can catastrophe bring peace? Disaster prevention and mitigation provide similar questions. Could setting up a flood warning system bring enemy countries together? Could a regional earthquake building code set the groundwork for wider regional cooperation? This book examines how and why disaster-related activities do and do not create peace and reduce conflict. Disaster-related activities refer to actions before a disaster such as prevention and mitigation along with actions after a disaster such as emergency response, humanitarian relief, and reconstruction. This volume investigates disaster diplomacy case studies from around the world, in a variety of political and disaster circumstances, from earthquakes in Greece and Turkey affecting these neighbours’ bilateral relations to volcanoes and typhoons influencing intra-state conflict in the Philippines. Dictatorships are amongst the case studies, such as Cuba and Burma, along with democracies such as the USA and India. No evidence is found to suggest that disaster diplomacy is a prominent factor in conflict resolution. Instead, disaster-related activities often influence peace processes in the short-term—over weeks and months—provided that a non-disaster-related basis already existed for the reconciliation. That could be secret negotiations between the warring parties or strong trade or cultural links. Over the long-term, disaster-related influences disappear, succumbing to factors such as a leadership change, the usual patterns of political enmity, or belief that an historical grievance should take precedence over disaster-related bonds. This is the first book on disaster diplomacy. Disaster-politics interactions have been studied for decades, but usually from a specific political framing, covering a specific geographical area, or from a specific disaster framing. As well, plenty of quantitative work has been completed, yet the data limitations are rarely admitted openly or thoroughly analysed. Few publications bring together the topics of disasters and politics in terms of a disaster diplomacy framework, yielding a grounded, qualitative, scientific point of view on the topic.
Author: Patricia Grossi Publisher: Springer Science & Business Media ISBN: 0387231293 Category : Business & Economics Languages : en Pages : 256
Book Description
Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.
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: Jan Job de Vries Robbé Publisher: Kluwer Law International B.V. ISBN: 9041125337 Category : Law Languages : en Pages : 378
Book Description
Despite fears that regulators around the world would act to curtail securitisation severely in the aftermath of the collapse of Enron, WorldCom, and Parmalat, the securitisation industry has witnessed what can only be described as relentless innovation. Securisation remains one of the most important means for financial institutions to diversify their funding, transfer credit risk and manage solvency requirements. This volume, the second in a series focusing on the latest innovations in the global securitisation industry, provides advisers with detailed guidance on key structural and legal issues of innovative securitisations, as well as describing the most recent developments in the accounting and risk-capital treatment of securitisation transactions. The contributors represent a wide range of expert participants in the design, execution, and regulation of securitisation transactions. Among the critical features of contemporary securitisation covered are the following: project finance CLOs; securitisation of equity risk; securitisation of commodity risk through commodity trigger swaps; the convergence of structured credit and securitisation markets; innovation in RMBS: negative equity transactions; innovation in CMBS: A/B structure new markets in Europe, Japan, and Islamic countries; catastrophe risk securitisation; effect of recent US bankruptcy legislation on synthetics; microfinance loan securitisation in emerging markets; public sector securitisation; securitisable intellectual property; application of accounting standards in a rapidly changing environment, and updated analysis of Basel II. The practical perspective of the contributions, combined with the extensive use of case studies of key transactions, should make this volume an invaluable resource for lawyers as well as legal and business academics interested in the very latest developments in the global securitisation markets.
Author: Florian Steiger
Author: Florian Steiger
Author: J. David Cummins
Author: Kenneth A. Froot
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Author: OECD
Author: Stefan Hochrainer
Author: Ilan Kelman
Author: Patricia Grossi
Author: Vinod Kothari
Author: Jan Job de Vries Robbé