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題 名 | 巨災債券暨巨災衍生性商品發展現況與趨勢=CAT Bonds and Derivatives: State of the Market and Development |
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作 者 | 張瑞益; 李珍穎; | 書刊名 | 中華科技大學學報 |
卷 期 | 46 2011.01[民100.01] |
頁 次 | 頁127-150 |
分類號 | 562.1 |
關鍵詞 | 再保險; 風險證券化; 巨災債券; 保險連結性證券; Reinsurance; Risk securitization; Cat bonds; Insurance-linked securities; |
語 文 | 中文(Chinese) |
中文摘要 | 本文旨在探討現有巨災債劵及其他巨災衍生性金融商品的市場現況。巨災債劵及其他巨災衍生性金融商品是重要的財務金融創新產品,可以提供巨災風險及其他風險有效的融資管道。這些商品的重要性在於,可以直接在資本市場直接募集資金,提供較保險公司或再保險公司所能承擔的巨災容量。其中,巨災債劵的市場容量持續穩定成長,不僅提供巨災風險融資管道,並也擴充到提供諸如汽車保險、人壽保險、年金保險融資管道。巨災債劵及其巨災衍生性商品並不是要取代既有保險或再保險的功能,而是提供一個輔助的風險承擔管道。其他巨災衍生性金融商品,諸如巨災交換合約、整體產業損失保證、天氣衍生性商品、或有資本等,亦將持續提供巨災風險重要移轉和融資管道。 |
英文摘要 | This article tries to review the statue of the market of catastrophic risk bonds (CAT bonds) and other risk-linked securities. Cat bonds and other risk-linked securities are innovative financial mechanisms that have an important role to play in financing catastrophic loss arising from natural hazards and other types of losses. The vehicles are especially important because they access capital markets directly, exponentially expanding risk-bearing capacity beyond the limited capital held by insurers and reinsurers. The CAT bond market has been growing steadily. CAT bonds are not expected to replace insurance/reinsurance but to complement the insurance/reinsurance market by providing additional risk-bearing capacity. Other innovative financing vehicles such as risk swaps, industry loss warranties, weather derivates and contingent notes also are expected to continue to play an important role in financing catastrophic risk. |
本系統中英文摘要資訊取自各篇刊載內容。