This paper examines the optimal design of insurance and reinsurance policies. We first consider reinsurance for … catastrophes: risks which are large for any one insurer but not for the reinsurance market as a whole. Reinsurance for catastrophes … public optimal reinsurance employs a deductible-style deductible-style excess-of-loss policy, and when is is private but the …

model. Relative to securitization, reinsurance features lower adverse selection costs because reinsurers possess superior … underwriting resources than ordinary capital market investors. Reinsurance premia, however, reflect markups over actuarially fair … reinsurance relative to securitization. In equilibrium, low risks are transferred via reinsurance, while intermediate and high …

This study presents an easy-to-handle approach to measuring the severity of reinsurance that faces a system of … dependent claims, where the reinsurance contracts are of excess loss or proportional loss. The proposed approach is a natural … generalization of common reinsurance methodologies providing a conservative framework that deals with the fundamental question of how …

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 …

Insurance and reinsurance markets are exposed to influence of unsystematic catastrophe risk, which is caused by adverse … catastrophe losses, impacts of floods, amount of premium written and reinsurance premium with respect to relations among selected … variables. Analysis is focused on specific conditions of the Czech insurance market in context of reinsurance market. The …