Essays about: "Catastrophe bonds"
Showing result 1 - 5 of 8 essays containing the words Catastrophe bonds.
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1. A Causal Analysis of Cat Bond Markets
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This work is a contribution to the causal analysis of the catastrophe bond market, which has generated high excess returns over the last two decades. Since these excess returns remain partially unexplainable and the interest in catastrophe bonds is increasing, the causal study of the factors affecting their premiums is of high relevance. READ MORE
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2. The Impact of Financial Crises and Natural Disasters on the US Catastrophe Bond Market
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : Catastrophe (CAT) bonds bring the needs of (re)insurance companies and investors together: They insure against natural disasters by transferring risk to the capital market while at the same time promising high returns and a certain detachment from financial markets. Being an alternative investment class that has been on the rise only in recent years, academic research on CAT bonds is comparatively limited. READ MORE
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3. The Effect of Natural Catastrophes on the Secondary CAT Bond Market
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : The impact natural catastrophes have on society has become increasingly costly in recent years. This has led to a higher need for financing, which has historically been provided by (re)insurance companies. READ MORE
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4. Portfolio Optimization with Catastrophe Bonds
University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomiAbstract : This thesis investigates properties of the returns of catastrophe bonds and their risk diversification potential in portfolios. Ideas from existing literature, such as modeling the evolution of the outstanding principal as a compound Poisson process, are extended to take into account the times of occurrence of the loss events, which are important for the returns of catastrophe bonds with certain types of payment structure. READ MORE
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5. CATASTROPHE BONDS - An investment analysis of their performance and diversification benefits
University essay fromAbstract : This thesis employs total return indices to investigate if catastrophe bonds are zero-beta assets and how they have performed compared to other assets. We conduct time series regressions and conclude that catastrophe bond returns are correlated with both the return of the equity- and the high yield corporate bond market during the subprime financial crisis, but find no significant correlation after the crisis. READ MORE
