Description
The traditional role of insurers is to insure idiosyncratic risk through products such as life annuities, life insurance, and health insurance. With the decline of private defined benefit plans and government pension plans around the world, insurers are increasingly taking on the role of insuring market risk through minimum return guarantees. Insurers also use more complex capital management tools such as derivatives, off-balance-sheet reinsurance, and securities lending. Financial Economics of Insurance provides a unified framework to study the impact of financial and regulatory frictions as well as imperfect competition on all insurer decisions. The book covers all facets of the modern insurance sector, guiding readers through its complexities with empirical facts, institutional details, and quantitative modeling.
An up-to-date textbook for graduate students in economics, finance, and insurance.
Covers a broad range of topics, including insurance pricing, contract design, reinsurance, portfolio choice, and risk management.
Provides promising new directions for future research.
Can be taught in courses on asset pricing, corporate finance, industrial organization, and public economics.
An invaluable resource for policymakers seeking an empirical and institutional account of today’s insurance sector.
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Looking to expand your knowledge in the insurance industry? Look no further than the Financial Economics of Insurance book. This authoritative and comprehensive textbook is perfect for graduate students in economics, finance, and insurance. With its detailed coverage of insurance pricing, contract design, risk management, and more, this book is essential for anyone aiming to excel in the insurance sector.
One of the key features of this book is its relevance to the modern insurance landscape. In an era of declining private pension plans and increased market risk, insurers are taking on new roles and facing new challenges. Financial Economics of Insurance provides a unified framework to study these complexities, including financial and regulatory frictions and the impact of imperfect competition.
Not only does this book offer theoretical explanations, but it also provides empirical facts and quantitative modeling to support its arguments. This combination of in-depth analysis and real-world insights make it an invaluable resource for both researchers and practitioners in the field.
With its broad range of topics and promising new directions for future research, Financial Economics of Insurance is a book that can be taught in courses on asset pricing, corporate finance, industrial organization, and public economics. Its versatility and comprehensive coverage make it a must-have addition to any academic curriculum.
If you are a policymaker seeking an empirical and institutional account of today's insurance sector, this book is your go-to guide. Gain a deep understanding of the complexities of the industry and make informed decisions based on solid research and analysis. Don't miss out on this opportunity to elevate your knowledge and expertise in the world of insurance.
Ready to delve into the world of insurance economics? Get your copy of Financial Economics of Insurance today and take your understanding of the industry to new heights.
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