supply of intermediary capital is perfectly elastic. We take the US catastrophe reinsurance market as an example, using … results suggest that the price of reinsurance generally exceeds fair' values, particularly in the aftermath of large events …

distributed through the insurance and reinsurance systems. However, because insurance companies tend to share relatively small …

relatively little cat reinsurance against large events. We also find that premiums are high relative to expected losses … transactions that look to capital markets, rather than traditional reinsurance markets, for risk-bearing capacity. These provide …

relatively little cat reinsurance against large events. We also find that premiums are high relative to expected losses … transactions that look to capital markets, rather than traditional reinsurance markets, for risk-bearing capacity. These provide …

transferring risk are being explored. The paper studies several recent transactions by USAA which use reinsurance capacity from …

primarily by insurance companies. Surprisingly, insurers use reinsurance to cover only a small fraction of these exposures, yet …

relatively little cat reinsurance against large events. We also find that premiums are high relative to expected losses … transactions that look to capital markets, rather than traditional reinsurance markets, for risk-bearing capacity. These provide …

Two of the three elements of the ACA's “premium stabilization program,” reinsurance and risk corridors, are set to … adjustment model itself are mathematically equivalent to a conventional actuarially fair reinsurance policy. Furthermore, closely … related modifications of the transfer formula or the risk adjustment model can improve on conventional reinsurance by figuring …

This paper examines the optimal design of insurance and reinsurance policies. We first consider reinsurance for … catastrophes: risks which are large for any one insurer but not for the reinsurance market as a whole. Reinsurance for catastrophes … public optimal reinsurance employs a deductible-style deductible-style excess-of-loss policy, and when is is private but the …