Publication: Reinsurance or Securitization: The Case of Natural Catastrophe Risk
Reinsurance or Securitization: The Case of Natural Catastrophe Risk
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Gibson, R., Habib, M. A., & Ziegler, A. (2014). Reinsurance or Securitization: The Case of Natural Catastrophe Risk. Journal of Mathematical Economics, 53, 79–100. https://doi.org/10.1016/j.jmateco.2014.05.007
Abstract
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Abstract
We investigate the suitability of securitization as an alternative to reinsurance for the purpose of transferring natural catastrophe risk. We characterize the conditions under which one or the other form of risk transfer dominates using a setting in which reinsurers and traders in financial markets produce costly information about catastrophes. Such information is useful to insurers: along with the information produced by insurers themselves, it reduces insurers’ costly capital requirements. However, traderswho seek to benefit from t
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- Gibson, Rajna
- Ziegler, Alexandre
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Gibson, R., Habib, M. A., & Ziegler, A. (2014). Reinsurance or Securitization: The Case of Natural Catastrophe Risk. Journal of Mathematical Economics, 53, 79–100. https://doi.org/10.1016/j.jmateco.2014.05.007
