This paper discusses facets of the insurance-finance convergence and their competition. Differences and similarities … to the insurance world, such as non normal risks, catastrophic risks, contagions, and other situations where risks are … latent and macroeconomic risks that have pervaded insurance and financial insurance portfolios during the financial crisis …

Villeneuve (2005, European Economic Review 49, 321-340). While Villeneuve produces interesting results on insurance contracts …