From the Inside Flap
This book offers an in-depth look at the increasingly significant convergence between the insurance industry and the capital markets which has resulted in insurance being seen as an up and coming asset class. Demonstrating how the industry can learn from past mistakes, the authors examine the implications of the intertwining of finance and insurance, both for investment banks and brokerage firms as well as the insurance sector itself.
Written by experts in the field, the book is divided into seven chapters:
* The basics of property-casualty insurance
* Securitizing insurance risks
* Life insurance in the United States: history of a crisis
* ALM in insurance: an empirical wander around Europe
* Life insurance pricing and the measurement of the duration of liabilities
* A functional approach to the insurance industry
* Conclusion and future challenges
From the Back Cover
In this book, the authors analyze the convergence between the insurance industry and the capital markets. They sumarize the main trends and issues and analyze past events within the industry. Thus, they demonstrate that the current market pressures on insurance companies do not not just create challenges but also new opportunities.