-investment-grade, these bonds are underpriced. Consistent with insurers' high (low) demand for IG bonds with high (low) systematic risk …

We conduct a comprehensive asset pricing analysis for the U.S. property/liability insurance industry using monthly data … the returns of property/liability insurance stocks in a satisfactory way. We adapt the model proposed by Adrian, Friedman …, and Muir (2015) for financial institutions and define an insurance-specific five-factor asset pricing model (INS5), which …

Major insurance and reinsurance firms have expressed concern that global warming poses economic threats to the industry … due to increased risk of extreme weather events. Past studies have examined the connection between global warming trends … and the value of insured damages. In principle, if weather-related threats are increasing, insurance firms may face higher …

Does a catastrophe bond issue increase the insurance firm value to shareholders? By issuing such bonds, insurance … companies that are exposed to weather claims, can share their risk with investors, managing the corporate risk. The academic … size on the firm's value, and a positive impact of the insurance firm's securitization experience. Our findings offer …

In this paper, we study the sensitivity of insurance companies' stock returns with respect to expected and unexpected … general, insurance stock returns are only sensitive to the unexpected changes in the Federal funds target rate, but not to the …

European Insurance and Occupational Pensions Authority issued on Thursday 2nd April 2020 a statement requesting (re)insurers to …

relationships among the economic, financial and political country risk ratings of the BRICS and relating those risk factors to their … examines the interrelationships among the national country financial risk ratings factors to discern transmission of the risk …. The results demonstrate that only the Chinese stock market is sensitive to all the factors. Financial risk ratings …

strength and extraordinary sovereign support and provide an estimate of banks' creditworthiness. Thus, the impact of the …

partial equilibrium model of euro area funds and banks calibrated over the period between 2008 and 2017. An initial shock to … yields causes funds to sell assets to address investor redemptions, while both banks and funds sell assets to keep their … banks. However, funds' relative contribution has risen due to their increased assets under management and banks' lower …

Can banks trade credit default swaps (CDSs) referenced on their current corporate clients at competitive prices, or are … banks penalized for potentially holding private information? To answer this question we merge CDS trades reported under the … that the same dealer offers to banks and to other investors. We find that banks lending to a corporation purchase CDSs on …