One of the most significant economic developments of the past decade has been the development of innovative risk … risk …

provides a transmission mechanism for financial shocks and potentially exposes insurers to contagion and systemic risk. In this … of contagion and insolvency risk reveals that even the failure of the top 10 in-degree or in-strength insurers with 100 …

This study investigates scope economies, organizational form, and insolvency risk for a sample of takaful firms in 19 … return on assets, and insolvency risk is measured using distance to default. We test the strategic focus and conglomeration … focus is superior to conglomeration for takafuls in terms of performance, efficiency, and insolvency risk. The results also …

risky. More specifically, primary indicators and contributing factors associated with systemic risk are assessed for the … characteristics and their relationship with a well-known systemic risk measure, SRISK, is provided. The core activities of property …, particularly separate accounts and group annuities, may be associated with systemic risk. The non-core activities of both types of …

-casualty (P-C) insurance industry. P-C insurers serve a risk management and risk bearing function in the economy. Insurers create … diversified risk pools consisting of large numbers of exposures. However, even in the most highly diversified risk pools … behave according to the tradeoff theory of capital structure …

This paper analyzes risk-linked securities as sources of risk capital for the insurance and reinsurance industries …. Risk-linked securities are innovative financing devices that enable insurance risk to be sold in capital markets, raising … prominent type of risk-linked security is the catastrophic risk (CAT) bond, which is a fully collateralized instrument that pays …