Insurance Linked Securities: The Role of the Banks
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Securitisations of insurance risk as new methods of risk transfer have been emerging in the global financial market during the recent twenty years. Christoph Weber analyses the techniques of traditional methods in comparison with securitisations for life- and non-life insurance risk. During his stay for expert interviews in the USA of October 2008 the investment bank Lehman Brothers defaulted triggering one of the deepest global economic crisis in history. Strengths and weaknesses of the different products became obvious. In addition, an online survey about the market status and the banks' role is analyzed. Readers get an insight into the drivers and obstacles the different stakeholder groups face.
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exchanging the bonds. It has to be kept in mind that, even if this may be allowed, the collatetai banks at cnrrent da not have the resources or systems 10 manage margin ca1ls or exchange collateral on a frequent basis.82 76INT-6-ASO [05.09.20081 nINT_8_LAW [1O.09.2OO81;INT-IO-RAT [12.09.20081 "INT4BNK [04.09.2008] "INT4BNK [04.09.2OO8];INT-I4-SUP [19.09.2008] "'INT-7-RE1 [OS.09.2OO81;INT-14-SUP [19.09.20081 81INT-29-INV [14.11.2008] "INT-25-BNK [29.10.2008] 164 CHAPTER 6. 1HE PERSPECTIVES OF