Over recent years the insurance industry has faced a period of rapid change and consolidation, with recent natural and man-made disasters highlighting the problems that the industry faces. Yet this has also been a time of opportunity with the traditional role of Insurance Companies giving way to its classification as a asset class. This has resulted in insurance risks now being priced and exchanged on the markets.
In this book, the authors analyze the convergence between the insurance industry and the capital markets. They sumarize the main trends and issues and analyze past events within the industry. Thus, they demonstrate that the current market pressures on insurance companies do not not just create challenges but also new opportunities.
Over recent years, there has been great upheaval in the Insurance From Underwriting to Derivatives. High profile cases such as Lloyds of London and various natural disasters have left the insurance industry struggling. Despite this, however, the market pressures on insurance companies are providing an incentive to change. As the insurance companies act on this, new opportunities are created.
This book offers an in-depth look at the increasingly significant convergence between the insurance industry and the capital markets which has resulted in insurance being seen as an up and coming asset class. Demonstrating how the industry can learn from past mistakes, the authors examine the implications of the intertwining of finance and insurance, both for investment banks and brokerage firms as well as the insurance sector itself.
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