Financial Economics Of Insurance

Author : Ralph S.J. Koijen,Motohiro Yogo
Publisher : Princeton University Press
Page : 208 pages
File Size : 40,6 Mb
Release : 2023-04-04
Category : Business & Economics
ISBN : 9780691193267

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Financial Economics of Insurance by Ralph S.J. Koijen,Motohiro Yogo Pdf

An authoritative and comprehensive graduate textbook on the modern insurance sector The traditional role of insurers is to insure idiosyncratic risk through products such as life annuities, life insurance, and health insurance. With the decline of private defined benefit plans and government pension plans around the world, insurers are increasingly taking on the role of insuring market risk through minimum return guarantees. Insurers also use more complex capital management tools such as derivatives, off-balance-sheet reinsurance, and securities lending. Financial Economics of Insurance provides a unified framework to study the impact of financial and regulatory frictions as well as imperfect competition on all insurer decisions. The book covers all facets of the modern insurance sector, guiding readers through its complexities with empirical facts, institutional details, and quantitative modeling. An up-to-date textbook for graduate students in economics, finance, and insurance Covers a broad range of topics, including insurance pricing, contract design, reinsurance, portfolio choice, and risk management Provides promising new directions for future research Can be taught in courses on asset pricing, corporate finance, industrial organization, and public economics An invaluable resource for policymakers seeking an empirical and institutional account of today’s insurance sector

Author : Anonim
Publisher : Unknown
Page : 669 pages
File Size : 55,8 Mb
Release : 2001
Category : Finance
ISBN : OCLC:1204329046

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Financial Economics by Anonim Pdf

Author : Felix Hufeld,Ralph S. J. Koijen,Christian Thimann
Publisher : Oxford University Press
Page : 247 pages
File Size : 45,9 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780198788812

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The Economics, Regulation, and Systemic Risk of Insurance Markets by Felix Hufeld,Ralph S. J. Koijen,Christian Thimann Pdf

Pt. 1. The economics of insurance and the macroeconomic role of insurance -- What is insurance and how does it differ from general finance? / Christian Thimann -- The macroeconomic role of insurance / Denis Kessler, Amélie de Montchalin, and Christian Thimann -- How the insurance industry manages risk / Denis Duverne and John Hele -- pt. 2. Financial stability and the possibilities of systemic risk -- Risks of life insurers : recent trends and transmission mechanisms / Ralph S.J. Koijen and Motohiro Yogo -- Measuring systemic risk for insurance companies / Viral V. Acharya, Thomas Philippon, and Matthew Richardson -- Measuring interest rate risk in the life insurance sector : the U.S. and the U.K. / Daniel Hartley, Anna Paulson and Richard J. Rosen -- pt. 3. Regulation -- How the insurance industry's asset portfolio responds to regulation / Bo Becker -- Spillover effects of risk regulation on the asset side to asset markets / Andrew Ellul, Chotibhak Jotikasthira, and Christian T. Lundblad -- A regulatory framework for systemic risk in the insurance industry / Felix Hufeld -- pt. 4. Open questions going forward from the insurance sector -- The big questions for the insurance sector : findings from a survey of insurance companies / Luca Pancaldi and Uwe Stegemann

Author : Peter Zweifel,Roland Eisen
Publisher : Springer Science & Business Media
Page : 461 pages
File Size : 53,5 Mb
Release : 2012-02-24
Category : Business & Economics
ISBN : 9783642205477

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Insurance Economics by Peter Zweifel,Roland Eisen Pdf

Presenting theoretical foundations and empirical research, this text introduces the reader to the core issues and analytical tools of insurance economics, examining in detail a host of key factors including supply and demand, regulation and social insurance.

Author : Georges Dionne,Scott E. Harrington
Publisher : Springer
Page : 728 pages
File Size : 48,8 Mb
Release : 2010-12-08
Category : Business & Economics
ISBN : 9048157897

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Foundations of Insurance Economics by Georges Dionne,Scott E. Harrington Pdf

Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.

Author : S. Hun Seog
Publisher : John Wiley & Sons
Page : 353 pages
File Size : 44,6 Mb
Release : 2010-03-15
Category : Business & Economics
ISBN : 9781405185523

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The Economics of Risk and Insurance by S. Hun Seog Pdf

Written for advanced undergraduate and master’s level courses, this book builds from a base of asymmetric information issues to discuss a wide array of topics and is illustrated with some timely examples. Covers diverse issues such as risk aversion, expected utility, and moral hazard within the pure theory of insurance Provides a clear exposition of the necessary mathematics, a feature which cannot be found in readers on the topic Utilizes an undergraduate economics major level of math Uses the simplest economic models possible to keep the text intuitive Introduces more mathematically complex techniques such as basic optimization for students wishing to 'go further' in their analysis

Author : Harry H. Panjer
Publisher : Society of Actuaries
Page : 712 pages
File Size : 54,5 Mb
Release : 1998
Category : Business & Economics
ISBN : UOM:39015060919167

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Financial Economics by Harry H. Panjer Pdf

Author : Howard C. Kunreuther,Mark V. Pauly,Stacey McMorrow
Publisher : Cambridge University Press
Page : 343 pages
File Size : 48,6 Mb
Release : 2013-01-28
Category : Business & Economics
ISBN : 9780521845724

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Insurance and Behavioral Economics by Howard C. Kunreuther,Mark V. Pauly,Stacey McMorrow Pdf

This book examines the behavior of individuals at risk and insurance industry policy makers involved in selling, buying and regulation.

Author : J. David Cummins,Richard A. Derrig
Publisher : Springer Science & Business Media
Page : 380 pages
File Size : 48,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400925069

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Financial Models of Insurance Solvency by J. David Cummins,Richard A. Derrig Pdf

The First International Conference on Insurance Solvency was held at the Wharton School, University of Pennsylvania from June 18th through June 20th, 1986. The conference was the inaugural event for Wharton's Center for Research on Risk and Insurance. In atten dance were thirty-nine representatives from Australia, Canada, France, Germany, Israel, the United Kingdom, and the United States. The papers presented at the Conference are published in two volumes, this book and a companion volume, Classical Insurance Solvency Theory, J. D. Cummins and R. A. Derrig, eds. (Norwell, MA: Kluwer Academic Publishers, 1988). The first volume presented two papers reflecting important advances in actuarial solvency theory. The current volume goes beyond the actuarial approach to encom pass papers applying the insights and techniques of financial economics. The papers fall into two groups. The first group con sists of papers that adopt an essentially actuarial or statistical ap proach to solvency modelling. These papers represent methodology advances over prior efforts at operational modelling of insurance companies. The emphasis is on cash flow analysis and many of the models incorporate investment income, inflation, taxation, and other economic variables. The papers in second group bring financial economics to bear on various aspects of solvency analysis. These papers discuss insurance applications of asset pricing models, capital structure theory, and the economic theory of agency.

Author : Christophe Courbage
Publisher : Springer
Page : 261 pages
File Size : 41,6 Mb
Release : 2016-04-29
Category : Business & Economics
ISBN : 9781137574794

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The Geneva Papers by Christophe Courbage Pdf

In January 1976, Raymond Barre, the first President of The Geneva Association, and Orio Giarini, its first Secretary General, founded The Geneva Papers on Risk and Insurance with the main goal of supporting and encouraging research in the economics of risk and insurance. At that time, research in the field of insurance was still embryonic and insurance was regarded as peripheral social activity. When sustained economic growth gained traction, the function of insurance gradually emerged as a key contributor to economic development. By integrating uncertainty into economic theory and benefiting from the progress of both financial economics and decision theory, research developed further in the field of insurance economics and risk management, and is now prolific. The Geneva Papers on Risk and Insurance undeniably contributed to this evolution and its impact on research in insurance has largely exceeded what its two founding members could have expected. This volume is a special collection of papers celebrating 40 Years of The Geneva Papers on Risk and Insurance. The collection looks back at the storied history of The Geneva Papers on Risk and Insurance and features papers from some of the esteemed authors who have contributed to the journal in its lifetime. This collection of papers highlights just a few of the many themes addressed in the papers published by the journal since it was created. Nevertheless, the selection exemplifies the richness and variety of topics the field of insurance covers.

Author : David F. Bradford
Publisher : University of Chicago Press
Page : 218 pages
File Size : 46,7 Mb
Release : 2007-12-01
Category : Political Science
ISBN : 9780226070322

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The Economics of Property-Casualty Insurance by David F. Bradford Pdf

The Economics of Property-Casualty Insurance presents new research and findings on key aspects of the economics of the property-casualty insurance industry. The volume explores the industrial organization, regulation, financing, and taxation of this business. The first paper, on external financing and insurance cycles, contains a wealth of information on trends and patterns in the industry's financial structure. The last essay, which compares performance of stock and mutual insurance companies, takes a fresh look at the way a company's organizational structure affects its responses to different economic situations. Two papers focus on rate regulation in the auto insurance industry, and provide broad overviews of the structure and economics of the insurance industry as a whole. Also addressed are the system of regulating insurance companies in the United States, who insures the insurers, and the effects of tax law changes in the 1980s on the prices of insurance policies.

Author : Tomas Cipra
Publisher : Springer Science & Business Media
Page : 413 pages
File Size : 42,5 Mb
Release : 2010-07-16
Category : Business & Economics
ISBN : 9783790825930

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Financial and Insurance Formulas by Tomas Cipra Pdf

Financial and insurance calculations become more and more frequent and helpful for many users not only in their profession life but sometimes even in their personal life. Therefore a survey of formulas of ?nancial and insurance mathematics that can be applied to such calculations seems to be a suitable aid. In some cases one should use instead of the term formula more suitable terms of the type method, p- cedure or algorithm since the corresponding calculations cannot be simply summed up to a single expression, and a verbal description without introducing complicated symbols is more appropriate. The survey has the following ambitions: • The formulas should be applicable in practice: it has motivated their choice for this survey ?rst and foremost. On the other hand it is obvious that by time one puts to use in practice seemingly very abstract formulas of higher mathematics, e.g. when pricing ?nancial derivatives, evaluating ?nancial risks, applying accou- ing principles based on fair values, choosing alternative risk transfers ARL in insurance, and the like. • The formulas should be error-free (though such a goal is not achievable in full) since in the ?nancial and insurance framework one publishes sometimes in a h- tic way various untried formulas and methods that may be incorrect. Of course, the formulas are introduced here without proofs because their derivation is not the task of this survey.

Author : Georges Dionne
Publisher : Springer Science & Business Media
Page : 1133 pages
File Size : 48,8 Mb
Release : 2013-12-02
Category : Business & Economics
ISBN : 9781461401551

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Handbook of Insurance by Georges Dionne Pdf

This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Author : Chris Jones
Publisher : Routledge
Page : 496 pages
File Size : 45,9 Mb
Release : 2008-01-24
Category : Business & Economics
ISBN : 9781134185672

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Financial Economics by Chris Jones Pdf

Whilst many undergraduate finance textbooks are largely descriptive in nature, the economic analysis in most graduate texts is too advanced for latter year undergraduates. This book bridges the gap between these two extremes, offering a textbook that studies economic activity in financial markets, focusing on how consumers determine future consumpt

Author : Solomon Stephen Huebner
Publisher : Unknown
Page : 252 pages
File Size : 54,8 Mb
Release : 1927
Category : Insurance, Life
ISBN : UOM:35128000463313

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The Economics of Life Insurance by Solomon Stephen Huebner Pdf