This paper presents a large panel study on the macroeconomic consequences of natural catastrophes and analyses the extent to which risk transfer to insurance markets facilitates economic recovery. Our main results are that major natural catastrophes have large and significant negative effects on...

Against the backdrop of increasing losses from natural catastrophes, this paper analyzes the role of reinsurance. In this regard, we distinguish between two dimensions of stability: financial and economic. This distinction helps us identify the differing needs of high- and low-income countries...

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....