Insurance, Finance, Solvency II and Financial Market Interaction
The Geneva Papers (2007) 32, 46–57. doi:10.1057/palgrave.gpp.2510117
Insurance and the Fixed Income Capital Markets
- aUBS Investment Bank, Asset-Backed Finance, 1285 Avenue of Americas, 11th Floor, New York, NY 10019, U.S.A. E-mail: yi-cheng.wu@ubs.com
- bUBS Investment Bank, Financial Institutions Group, 1 Finsbury Avenue, London EC2M 2PP, U.K. E-mail: david.soanes@ubs.com
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Abstract
This paper firstly reviews the recent robust market performance of insurance financings and insurance-linked securities, covering traditional senior and subordinated/hybrid debt, as well as real risk transfer transactions. Secondly, we detail the five main categories of insurance securitizations. They represent the key recent developments of insurance securitization, allowing issuers to use innovative capital markets solutions to achieve strategic and financial objectives through these various forms of securitization.
Keywords:
securitization, embedded value, catastrophe, subordinated, sidecars, trigger
