Götze, Tobias; Gürtler, Marc - In: The Geneva Papers on Risk and Insurance - Issues and … 47 (2021) 1, pp. 125-171
Reinsurance and CAT bonds are two alternative risk management instruments used by insurance companies. Insurers should … to CAT bonds. CAT bonds may add value to insurers' risk management strategies and may therefore substitute for … use shows that insurance companies' choice of risk management instruments is not arbitrary. We find that the added value …