We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the … problem of risk model homogeneity. The model simulates the balance sheets of insurance firms, who collect premiums from … time series of profits and losses and recovers stylized facts, such as the insurance cycle and the emergence of asymmetric …

security used to hedge the risk is similar to a CAT bond. This work looks at the incentives associated with insurance …

Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders … necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an owner …

insurance as a retrospective (post-loss) risk financing tool and the risk transfer mechanism upon it. As the risk financing tool … structure, insurance (as a risk financing tool) represents an off-balance sheet capital component. As a consequence, it extends …The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a …

insurance as a retrospective (post-loss) risk financing tool and the risk transfer mechanism upon it. As the risk financing tool … structure, insurance (as a risk financing tool) represents an off-balance sheet capital component. As a consequence, it extends …The purpose of the paper is to provide some support to the thesis that insurance may reduce the cost of capital in a …

I study the causal effect of bond investor demand on the financing and investment decisions of nonfinancial firms using … granular data on the bond transactions of U.S. insurance companies. Liquidity inflows from insurance premiums combined with … insurers' persistent investment preferences identify bond demand shifts, which raise bond prices and reduce firms' financing …

transactions of non-agency RMBS by insurance companies from 2006 to 2009, we show that insurance companies that became more capital … at much lower prices than other insurance companies during the crisis …

This paper investigates systemic risk in the insurance industry. We first analyze the systemic contribution of the … insurance industry vis-à-vis other industries by applying 3 measures, namely the linear Granger causality test, conditional … Europe over the last 14 years. We then analyze the determinants of the systemic risk contribution within the insurance …

This paper investigates systemic risk in the insurance industry. We first analyze the systemic contribution of the … insurance industry vis-a-vis other industries by applying 3 measures, namely the linear Granger causality test, conditional … Europe over the last 14 years. We then analyze the determinants of the systemic risk contribution within the insurance …