This dissertation consists of four parts, focusing on alternative investments, catastrophe risk, and asset pricing in an insurance context. Several financial instruments (i.e., funds, options, and stocks) are analyzed with different perspectives on an insurer's balance sheet. The first part...

The first essay shows that corporate bond issuers derive value from bond underwriter relationship capital. A strong underwriter relationship enables the underwriter to credibly certify the issuer on the bond market which is fundamental for firms when issuing new debt and refinancing maturing...