model. Relative to securitization, reinsurance features lower adverse selection costs because reinsurers possess superior … reinsurance relative to securitization. In equilibrium, low risks are transferred via reinsurance, while intermediate and high …We provide a novel explanation for the low volume of securitization in catastrophe risk transfer using a signaling …

This research provides evidence on the relationship between catastrophe (Cat) bonds and reinsurance demand for insurers …. Cat bonds substitute for traditional reinsurance demand in the hard reinsurance market, but not in the soft market. When … decomposing the total reinsurance demand into internal and external reinsurance, Cat bonds have a significantly positive effect on …

for the insurance industry. Against this background, the combination of reinsurance and capital market solutions … systematic and idiosyncratic risks. We focus on the impact of regulation on risk transfer, by differentiating reinsurance and …