Using novel data on investors' bond portfolios, we study the contagion of the crisis from securitized bonds to corporate bonds. When securitized bonds became “toxic” in August 2007, mutual funds retained the now illiquid securitized bonds and sold corporate bonds. Funds with negative flows...

We analyse the choice of the appropriate delivery mechanism(s) relevant to various types of microinsurance products in a developmental context like that prevailing in Bangladesh. By examining various delivery mechanisms under different institutional contexts, we analyse the conditions under...

Why don't people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees' portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a quantitative model to assess the importance...

Contents 1. Portfolio structuring; risk factor category identification and mapping 2. Risk aggregation of single risk losses within each risk factor category a. Methodology identification and brief technical review b. SCR computation by risk factor category 3. The portfolio view and SCR. 4....

Protection is as important as other basic needs as it ensures the continuity of the fulfillment of the needs. The fulfillment from Islamic point of view can be categorised into five major areas as prescribed under the Maqasid al-Shariah. Protection can be achieved via Insurance, but it is not...

Most recent studies are based on benchmarking analysis allowing the measure of company efficiency relatively to a reference performance. Benchmarking is a helpful tool to analyze and promote efficiency in insurance companies. The fast development of X-efficiency notion makes traditional...

This paper investigates sensitivity of the VaR models when return series of stocks and stock indices are not normally distributed. It also studies the effect of market capitalization of stocks and stock indices on their Value at risk and Conditional VaR estimation. Three different market...

In recent years the financial markets known a rapid development and become more and more complex. So, many regulatory requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on business risk control and required capital to...

The article presents analytical data regarding the influence of the global financial crisis on the activity of the insurance market of some countries. Special attention is given to the dynamics in the development of the insurance market of Ukraine, problems and perspectives of Ukrainian...

In the first essay, Calomiris argues that the most desirable means by which to achieve banking system stability is to permit unlimited branch banking combined with the type of privately administered formal deposit insurance programs of antebellum Indiana, Ohio, and Iowa. In the second essay,...