Statistical analysis provides a risk assessment of nuclear safety based on historical data. We use classical probabilistic models from risk theory to analyze data on nuclear power accidents from 1952 to 2011. Findings are that the severities of nuclear power accidents should be modeled with an...

Natural disasters resulting in significant losses have become more frequent in recent decades, with 2011 being the costliest year in history. This feature explores how risk is transferred within and beyond the global insurance sector and assesses the financial linkages that arise in the process....

As financial technologies shape the future of the financial world in ways most of us have never anticipated, insurers will need to keep up. Moreover, in the context of the European Green Agreement and the Global Green Agreement, financing will face a new challenge posed by the introduction of...

This paper examines the relationship between banks' observed credit default swap (CDS) spreads and possible measures of systemic importance. We use five-year CDS spreads from Markit with an international sample of 71 banks to investigate whether market participants are giving them a discount on...

The concept of a market portfolio plays an important role in many financial theories and models. Knowledge of each asset's share of the invested capital markets is both useful information and a good starting point for investors considering the appropriate allocation to the asset. In our latest...

One of the declared goals of the supervisory authorities for the insurance and banking sectors is to enhance the resilience of the financial system by establishing consistent regulatory frameworks. In view of this goal, this paper provides a critical analysis of the consistency of the Basel III...

On the temperature derivative market, modeling temperature volatility is an important issue for pricing and hedging. In order to apply pricing tools of financial mathematics, one needs to isolate a Gaussian risk factor. A conventional model for temperature dynamics is a stochastic model with...

Haircut, a discount on the market value of financial collateral, draws its intuition from earlier stock loan brokers' desire to withstand stock market meltdowns without losses. Nowadays it is commonly computed as the 99% tail loss during a 10 day period over a sufficiently long observation. Such...

This study provides an overview of UK infrastructure investment and finance in an international context, yielding interesting facts insights for both investors and policy makers worldwide. The UK is one of the leading countries in terms of private sector involvement in infrastructure, with...

Why, since the mid-1980s, have so many European governments decided fiscally to support the development of private retirement savings accounts? Whereas analysts of pension reform in affluent democracies have traditionally considered the development of private pensions as a secondary outcome of...