This paper presents a dynamic model of the reinsurance market for catastrophe risks. The model is based on the … features with the real market. In particular, market price increases and reinsurance coverage decreases after large shocks, and … reducing reinsurance supply, and the market is segregated into strategic large actors that influence market prices and price …

A captive is an insurance or reinsurance company established by a parent group to finance its own risks. Captives mix … firstly business units to insurance captives or to "fronters" through insurance contracts, secondly fronters to reinsurance … captives through the cession of risks and thirdly insurance or reinsurance captives to reinsurers through cessions or …

In this paper, we consider optimal reinsurance from an insurer's point of view. Given a (low) ruin probability target …, insurers want to find the optimal risk transfer mechanism, i.e. either a proportional or a nonproportional reinsurance treaty …. Since it is usually admitted that reinsurance should lower ruin probabilities, it should be easy to derive an efficient …

The present research relaxes three of the usual assumptions made in the insurance literature. It is assumed that (1 … monopolistic. In this context, the article analyses two models of natural catastrophe insurance: a model of insurance with limited … insurance industry is characterized by economies of scale. The government should consequently encourage the emergence of a …

withdraw money from the associated account. As for many insurance contracts, the price of variable annuities consists in a fee …

This paper analyzes the efficient design of insurance schemes in the presence of aggregate shocks and moral hazard. The … identical but are subject to idiosyncratic shocks. Without moral hazard, optimality requires (1) full insurance against … conflicts with the full insurance of idiosyncratic shocks. In particular, how is the sharing of macro-economic risks across …

model to highlight how liquidity and insurance constraints respond differently to the time profile of expected cash …

This paper focusses on the insurance role of religion in buffering the well-being impact of stressful life events, and … religious unemployed are less likely to be actively looking for work). In panel data, as implied by insurance, the religious … have less variation in life satisfaction. Last, we suggest that religion's insurance role might be reflected in support for …