Global events and geopolitical upheavals, from the COVID-19 pandemic to the US-China trade conflict and Russia-Ukraine war, have propelled the world towards geoeconomic fragmentation. This trend is exemplified by shifts away from free trade and globally integrated supply chains in favour of...

Insurance companies need to calculate solvency capital requirements in order to ensure that they can meet their future obligations to policyholders and beneficiaries. The solvency capital requirement is a risk management tool essential for addressing extreme catastrophic events that result in a...

Die Idee, dass US-amerikanische Macht internationale Sicherheit schafft, ist in der politischen Elite der USA bis heute tief verankert. Sie liegt letztendlich auch den von den USA geführten Bündnissen, einschließlich der Nato, zugrunde. Doch tatsächlich erodieren die drei Säulen der Pax...

In an era of the overlapping effects of the Covid pandemic and the conflict in Ukraine, it is worth taking a closer look at the markets that focus on risk management, that is, the insurance market, in terms of its further organization and development. The aim of the paper is to examine how the...

This study explores the effect of risk management on capital structure deviations. Specifically, we innovatively classify capital structure deviations into direct and indirect deviations, with our classification being based on deviations resulting mainly from changes in either actual or target...

Digital platform ecosystems are making it easier for insurers to reach customers at lower cost and increase customer engagement. Policyholders benefit from more convenient access to insurance, embedding of coverage into other products and services such as travel services, and more personalised...

Die Idee, dass US-amerikanische Macht internationale Sicherheit schafft, ist in der politischen Elite der USA bis heute tief verankert. Sie liegt letztendlich auch den von den USA geführten Bündnissen, einschließlich der Nato, zugrunde. Doch tatsächlich erodieren die drei Säulen der Pax...

Stop-loss and limited loss random variables are two important transforms of a loss random variable and appear in many modelling problems in insurance, finance, and other fields. Risk levels of a loss variable and its transforms are often measured by risk measures. When only partial information...

In this paper, we consider the ruin probability minimization of an insurance company that buys proportional reinsurance and invests in markets where borrowing is constrained. We use a diffusion approximation model for the surplus process of this company and assume that the company invests its...

This research studies a dynamic reinsurance model for an ambiguity-averse insurer. The insurer can manage its risk exposure through the purchase of reinsurance and the issuance of catastrophe bonds (CAT bonds) which are linked to an exogenous trigger index. The insurer worries about the veracity...

In this paper, we consider the optimal reinsurance and investment problem for the insurance company, where the insurer can purchase per-loss reinsurance and invest the surplus in a financial market, and the insurer’s claim liabilities and capital gains in financial market are negatively...

Time series analysis is a crucial tool for predicting how reinsurance revenues will be used. Reinsurance businesses must be aware of the estimated future values of claims in order to minimise the substantial losses brought on by predicted future claims. The potential values of anticipated claims...

Optimal reinsurance problems under the risk measures, such as Value-at-Risk (VaR) and Tail-Value-at-Risk (TVaR), have been studied in recent literature. However, losses based on VaR may be underestimated and TVaR allows us to account better for catastrophic losses. In this paper, we propose a...

We propose a model in which, in exchange to the payment of a fixed transaction cost, an insurance company can choose the retention level as well as the time at which subscribing a perpetual reinsurance contract. The surplus process of the insurance company evolves according to the diffusive...

Purpose The authors consider the mutual benefits of the ceding company and reinsurance company in the design of reinsurance contracts. Two objective functions to maximize social expected utilities are established, which are to maximize the sum of the expected utilities of both the ceding company...