reinsurance and investment policies. The two insurers are concerned about their terminal wealth as well as the relative … with Heston's stochastic volatility and a defautable corporate bond, and the reinsurance premium is calculated by the … variance premium principle. We derive the Nash equilibrium reinsurance policy and investment policy explicitly for the game and …

lines of business. In addition, it also turned out the division into clusters for insurance and reinsurance is not uniform …. The exceptions are the years 2021 and 2022, in which clusters are formed identically for insurance and reinsurance. The … look at the markets that focus on risk management, that is, the insurance market, in terms of its further organization and …

This paper estimates a reduced-form model to assess the credit risk of General Insurance (GI) non-life firms in the UK … business lines; there is default clustering in the GI industry; different reinsurance levels also affect the credit risk of … insurance firms. The implications of these findings for regulators of GI firms under the coming Solvency II are discussed. …