DUBLIN - (Business Wire) Research and Markets (http://www.researchandmarkets.com/research/81016b/the_handbook_of_in) has announced the addition of John Wiley and Sons Ltd's new report "The Handbook of Insurance-Linked Securities" to their offering. This book provides a much needed reference for finance practitioners on the rapidly growing Insurance Linked Securities markets. It will provide readers with the state of the art in Insurance-Linked Securitization, introducing the different parties involved in the transactions and their roles, the motivation for the transaction sponsors, the potential inherent pitfalls, the latest developments and transaction structures but also the key challenges faced by the market at each stage.
The book will also focus on more general issues faced by the industry, including accounting and tax issues, regulatory issues and solvency capital requirements all tackled from international perspectives.
The book will be organized into two parts making a distinction between non-life and life securitization in order to accommodate the specificities of each sector. Each chapter covers a specific topic or sector of the market. After a general overview over the ILS market, the Insurance-Linked Securitization process is studied in detail.
The convergence of insurance with the capital markets has opened up an alternative channel for insurers to transfer risk, raise capital and optimize their regulatory reserves as well as offering institutions a source of relatively liquid investment with limited correlation with other exposures. One of the financial instruments allowing for the cession of insurance-related risks to the capital markets is Insurance-Linked Securities (ILS).
This book provides hands-on information essential for market participants, drawing on the insights and expertise of an impressive team of international market players, representing the various aspects and perspectives of this growing sector.
The book presents the state of the art in Insurance-Linked Securitization, by exploring the various roles for the different parties involved in the transactions, the motivation for the transaction sponsors, the potential inherent pitfalls, the latest developments and transaction structures and the key challenges faced by the market.
The book is organized into parts, each covering a specific topic or sector of the market. After a general overview of the ILS market, the Insurance-Linked Securitization process is studied in detail. A distinction is made between non-life and life securitization, due to the specificities of each sector. The process and all the actors involved are identified and considered in a comprehensive and systematic way. The concepts are first looked at in a general way, before the analysis of relevant case studies where the ILS technology is applied.
Key Topics Covered:
PART I NON-LIFE SECURITISATION
2 Non-life Insurance Securitisation: Market Overview, Background and Evolution 3 Cedants' Perspectives on Non-life Securitization 4 Choice of Triggers 5 Basis Risk from the Cedant's Perspective 6 Rating Methodology 7 Risk Modelling and the Role and Benefits of Cat Indices 8 Legal Issues 9 The Investor Perspective (Non-Life) 10 ILS Portfolio Monitoring Systems 11 The Evolution and Future of Reinsurance Sidecars 12 Case Study: A Cat Bond Transaction by SCOR (Atlas) 13 Case Study: Swiss Re's New Natural Catastrophe Protection Program (Vega)
PART II LIFE SECURITISATION
14 General Features of Life Insurance-Linked Securitisation 15 Cedants' Perspectives on Life Securitisation 16 Rating Methodology 17 Life Securitisation: Risk Modelling 18 Life Insurance Securitisation: Legal Issues 19 The Investor Perspective (Life) 20 Longevity Securitisation: Specific Challenges and Transactions 21 Longevity Risk Transfer: Indices and Capital Market Solutions 22 Case Study: A Cat Mortality Bond by AXA (OSIRIS) 23 Case Study: Some Embedded Value and XXX Securitisations
PART III TAX AND REGULATORY CONSIDERATIONS
24 The UK Taxation Treatment of Insurance-Linked Securities 25 The US Federal Income Taxation Treatment of Insurance-Linked Securities 26 Regulatory Issues and Solvency Capital Requirements
For more information visit http://www.researchandmarkets.com/research/81016b/the_handbook_of_in
Laura Wood
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