Risk Sharing and Pricing in the Reinsurance Market

Carole Bernard ()
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Carole Bernard: Grenoble Ecole de Management

A chapter in Handbook of Insurance, 2025, pp 325-349 from Springer

Abstract: Abstract In this chapter, we provide an overview of the reinsurance market, including an analysis of the factors driving the demand for reinsurance, and of the impact of climate change. We further discuss moral hazard issues and challenges faced by the reinsurance industry. We present a number of tools, coming from the insurance literature that are available to model reinsurance and alternative risk transfers, but we also show that more research is needed to capture the specifics of these markets. In particular, the lack of financial market dynamics into actuarial pricing models is highlighted as one important limit of the surveyed models.

Keywords: Basis risk; Moral hazard; Securitization; Reinsurance premium; Climate change; Natural catastrophe (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69674-9_10

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DOI: 10.1007/978-3-031-69674-9_10

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