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Financial Economics of Insurance

Financial Economics of Insurance

Hardcover

Business GeneralEconomicsInvesting & Finance

ISBN10: 0691193266
ISBN13: 9780691193267
Publisher: Princeton University Press
Published: Apr 4 2023
Pages: 208
Weight: 1.05
Height: 0.80 Width: 9.30 Depth: 6.50
Language: English

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.

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Business General