and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility …

In this paper, we consider the ruin probability minimization of an insurance company that buys proportional reinsurance … this company and assume that the company invests its surplus into a riskless and multiple risk assets that are modeled as … proportional reinsurance and investment strategy of an insurance company investing into multiple risky assets to minimize its ruin …

uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify … Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state … across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global …

insurance demand or consumption. Empirical research on risk aversion may be categorized into two main areas, i.e. 1) the …Determinants of risk attitudes of individuals are of great interest in the growing area of behavioral economics that … purpose of this paper is to review the empirical literature on risk aversion (and risk behavior) with a particular focus on …

Most decisions concerning (self-)insurance and self-protection have to be taken in situations in which a) the effort … under which ambiguity aversion raises the demand for (self-)insurance and self-protection. In particular, it is shown that …

investors' financial conditions affect the management of their portfolios? We address this issue using the insurance industry …

Solvency II is a new risk-based framework for setting the capital requirements of European insurance companies, in … contribution to the solvency capital requirement, to provide insight in the risk allocation and the trade-off between return and … marginal risk. In addition we derive the optimal strategic asset allocation for an insurer that maximizes the expected return …

Historical evidence like the global financial crisis from 2007-09 highlights that sector concentration risk can play an … II consider only name concentration risk explicitly in their solvency capital requirements for asset concentration risk … and neglect sector concentration risk. We show by means of US insurers' asset holdings from 2009 to 2018 that substantial …