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Author: Paula Jarzabkowski Publisher: Oxford University Press, USA ISBN: 0199664765 Category : Business & Economics Languages : en Pages : 257
Book Description
Reinsurance is a market that provides cover for the devastating consequences of unpredictable events such as Hurricane Katrina, or the Tohoku earthquake, underpinning society's capacity to rebuild after the unthinkable happens. This book fleshes out how this important and quirky financial market works.
Author: Paula Jarzabkowski Publisher: Oxford University Press, USA ISBN: 0199664765 Category : Business & Economics Languages : en Pages : 257
Book Description
Reinsurance is a market that provides cover for the devastating consequences of unpredictable events such as Hurricane Katrina, or the Tohoku earthquake, underpinning society's capacity to rebuild after the unthinkable happens. This book fleshes out how this important and quirky financial market works.
Author: Leonardo Caruana de las Cagigas Publisher: Springer Nature ISBN: 3030740021 Category : Business & Economics Languages : en Pages : 313
Book Description
This book is an edited collection by leading insurance historians, examining the historical role of reinsurance (the insurance of insurers) in the insurance markets of eight countries: USA, Netherlands, Sweden, France, Spain, Italy, Mexico and Japan. All the contributors are experts in their field and have widely published in insurance history, providing the reader with new insights into the insurance and economic history of these countries. In particular, this is the first book to explore the reinsurance markets in the USA, Netherlands, France, Italy and Mexico. This book will be of interest to economic and business historians, as well as insurance practitioners with an interest in the history of their industry.
Author: Paula Jarzabkowski Publisher: OUP Oxford ISBN: 0191641855 Category : Business & Economics Languages : en Pages : 257
Book Description
Reinsurance is a financial market that trades in the risk of unpredictable and devastating disasters - such as Hurricane Katrina, the Tohoku earthquake and tsunami, and the terrorist attacks on the World Trade Centre. Such disasters are increasing in both frequency and severity, with the cost of their losses mounting rapidly. Reinsurance insures insurance companies, enabling them to pay claims arising from these losses. It is thus a market mechanism that is a critical part of the social and economic safety net, helping to pick up the pieces after disasters. Yet, how is the risk of such disasters calculated and traded in a global market? This book brings to life the reinsurance market through vivid real-life tales that draw from an ethnographic, "fly-on-the-wall" study of the global reinsurance industry over three annual cycles. The authors shadowed underwriters around the world as they traded risks through multiple disasters. For instance, this book takes readers into the desperate hours of pricing Japanese risks during March 2011, while the devastating aftermath of the Tohoku earthquake is unfolding. To show how the market works, the book offers authentic tales gathered from observations of reinsurers in Bermuda, Lloyd's of London, Continental Europe and SE Asia as they evaluate, price and compete for different risks as part of their everyday practice. Understanding how this market for disasters works has never been more critical given the impact of climate change and increased global connectivity, where a flood in one country can trigger losses to supply chains around the world. The authors develop a novel concept of how global markets work, which advances scholarship and challenges current thinking about how financial markets trade in intangible assets such as risk. This book will be useful to readers interested in markets for disasters, insurance, reinsurance and financial markets, and academics interested in the practice of financial markets specifically or the practice of strategy and organizations generally.
Author: Laila Neuthor Publisher: VVW GmbH ISBN: 3899526813 Category : Business & Economics Languages : en Pages : 327
Book Description
Reinsurance cover can either be purchased directly or via an intermediating reinsurance broker. The importance of reinsurance brokers has increased steadily since the early nineties. The thesis thus aims to analyze the impact of the reinsurance broker on reinsurance market efficiency and to identify the reasons why primary insurers to an increasing extent contract via an intermediating reinsurance broker. As the reinsurance broker's intermediation services are costly for the primary, intermediation needs to increase the primary insurer's payoff or utility compared to the direct purchase of reinsurance cover. Otherwise, no primary would be willing to hire a broker firm for assistance in the reinsurance acquisition process. Chapter II clarifies the framework for reinsurance broker activity. Chapter III first gives an overview of the reinsurance broker market (III.2) with a special focus on the market concentration and the geographical importance of reinsurance brokers. In addition, the reinsurance broker's tasks before, during, and after the reinsurance contract conclusion (III.3) are introduced and the types of reinsurance broker remuneration frequently used (III.4) are outlined. Finally, the most prominent reinsurance broker regulatory frameworks (III.5) are introduced along with rationales for reinsurance broker regulation. Chapter IV is composed of five sections discussing the different aspects of the market function of the reinsurance broker. Chapter V gives a short summary of the main findings and concludes the thesis. By combining economic theory and market observations, this thesis addresses both scholars and reinsurance market specialists. Rückversicherung kann entweder direkt oder über einen vermittelnden Rückversicherungsmakler erworben werden. Die Bedeutung der Rückversicherungsmakler hat seit Anfang der 1990er Jahre international zugenommen. Vor dem Hintergrund dieser Entwicklung untersucht die Autorin die Effizienz des Rückversicherungsmarktes und die Gründe, warum Erstversicherer in zunehmendem Maße Rückversicherung über einen vermittelnden Rückversicherungsmakler abschließen. Kapitel II klärt die Rahmenbedingungen für das Tätigwerden der Rückversicherungsmakler. Kapitel III gibt zunächst einen Überblick über den Rückversicherungsmakler-Markt (III.2) mit einem besonderen Fokus auf die Marktkonzentration und die geographische Verteilung der Rückversicherungsmakler. Darüber hinaus werden die Aufgaben der Rückversicherungsmakler vor, während und nach dem Vertragsabschluss (III.3) vorgestellt und die häufigsten Arten der Vergütung (III.4) behandelt. Schließlich werden die wichtigsten Regelwerke für Rückversicherungsmakler (III.5) erläutert. Kapitel IV befasst sich detailliert mit verschiedenen Aspekten des Rückversicherungsmarktes und der Funktion der Broker. Kapitel V fasst die Ergebnisse kurz zusammen. Die Autorin verbindet ökonomische Theorie mit Marktbeobachtungen und leistet einen wichtigen Beitrag zu einem wenig erforschten Themengebiet. Die Arbeit richtet sich sowohl an Wissenschaftler als auch an die im Rückversicherungsmarkt tätigen Spezialisten.
Author: Peter Borscheid Publisher: Oxford University Press, USA ISBN: 0199689806 Category : Business & Economics Languages : en Pages : 497
Book Description
This book explains how today's insurance industry developed and highlights the role of the reinsurance industry in spreading risks globally. The book examines the development of insurance markets and of the reinsurance industry in particular, and the history of Swiss Re, one of the leading reinsurance companies in the world.
Author: Griselda Deelstra Publisher: Springer Science & Business Media ISBN: 1447155688 Category : Business & Economics Languages : en Pages : 85
Book Description
Reinsurance is an important production factor of non-life insurance. The efficiency and the capacity of the reinsurance market directly regulate those of insurance markets. The purpose of this book is to provide a concise introduction to risk theory, as well as to its main application procedures to reinsurance. The first part of the book covers risk theory. It presents the most prevalent model of ruin theory, as well as a discussion on insurance premium calculation principles and the mathematical tools that enable portfolios to be ordered according to their risk levels. The second part describes the institutional context of reinsurance. It first strives to clarify the legal nature of reinsurance transactions. It describes the structure of the reinsurance market and then the different legal and technical features of reinsurance contracts, known as reinsurance ‘treaties’ by practitioners. The third part creates a link between the theories presented in the first part and the practice described in the second one. Indeed, it sets out, mostly through examples, some methods for pricing and optimizing reinsurance. The authors aim is to apply the formalism presented in the first part to the institutional framework given in the second part. It is reassuring to find such a relationship between approaches seemingly abstract and solutions adopted by practitioners. Risk Theory and Reinsurance is mainly aimed at master's students in actuarial science but will also be useful for practitioners wishing to revive their knowledge of risk theory or to quickly learn about the main mechanisms of reinsurance.
Author: Robert M. Merkin Publisher: Cavendish Publishing (UK) ISBN: Category : Business & Economics Languages : en Pages : 128
Book Description
In 1994 a Reinsurance Working Party was set up by AIDA (Association Internationale de Droit des Assurances) with the aim of producing a series of comparative reports considering how particular aspects of reinsurance law operate in a range of jurisdictions.
Author: Paula Jarzabkowski
Author: Paula Jarzabkowski
Author: Leonardo Caruana de las Cagigas
Author: Group of Thirty
Author: Paula Jarzabkowski
Author: Laila Neuthor
Author: R. L. Carter
Author: Peter Borscheid
Author: Robert Lewis Carter
Author: Griselda Deelstra
Author: Robert M. Merkin