Alternative Risk Transfer and Insurance-Linked Securities: Trends, Challenges and New Market Opportunities, vol 56

Semir Ben Ammar, Alexander Braun and Martin Eling

in I.VW HSG Schriftenreihe from University of St.Gallen, Institute of Insurance Economics (I.VW-HSG)

Abstract: Due to their relatively high yields and low return correlations with traditional asset classes, insurance-linked securities (ILS) are often described as an attractive investment opportunity. Yet, the investor base for ILS is largely dominated by a few specialized investment managers. The aim of this study is to analyze advantages and disadvantages, the current market development and the decision-making processes that drive the demand for this aspiring asset class. To reach this aim, we first review the existing knowledge on ILS instruments and markets, then present results of a new international survey among ILS investors and finally, based on the results of the first and second step, derive implications for the future development of ILS.

Date: 2015
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