Securitization of Life Insurance Assets and Liabilities
Securitization is one of the most important innovations of modern finance. The securitization process involves the isolation of a pool of assets or rights to a set of cash flows and the repackaging of the asset or cash flows into securities that are traded in capital markets. The objective of this a...
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| Veröffentlicht in: | The Journal of risk and insurance 2005-06, Vol.72 (2), p.193-226 |
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| container_title | The Journal of risk and insurance |
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| creator | Cowley, Alex Cummins, J. David |
| description | Securitization is one of the most important innovations of modern finance. The securitization process involves the isolation of a pool of assets or rights to a set of cash flows and the repackaging of the asset or cash flows into securities that are traded in capital markets. The objective of this article is to analyze securitization in the insurance industry with an emphasis on the lessons to be learned from prior securitizations as well as techniques that can be employed to mitigate the remaining impediments to the more widespread securitization of insurance risk. The article begins with an overview and analysis of asset-backed securities. This is followed by a discussion of securitization as a potential source of value creation in the insurance industry. The principal life insurance and annuity securitizations that have been conducted in recent years are then analyzed, followed by a discussion of possible approaches to overcoming impediments to securitization. |
| doi_str_mv | 10.1111/j.1539-6975.2005.00121.x |
| format | Article |
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David</creatorcontrib><title>Securitization of Life Insurance Assets and Liabilities</title><title>The Journal of risk and insurance</title><description>Securitization is one of the most important innovations of modern finance. The securitization process involves the isolation of a pool of assets or rights to a set of cash flows and the repackaging of the asset or cash flows into securities that are traded in capital markets. The objective of this article is to analyze securitization in the insurance industry with an emphasis on the lessons to be learned from prior securitizations as well as techniques that can be employed to mitigate the remaining impediments to the more widespread securitization of insurance risk. The article begins with an overview and analysis of asset-backed securities. This is followed by a discussion of securitization as a potential source of value creation in the insurance industry. 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| identifier | ISSN: 0022-4367 |
| ispartof | The Journal of risk and insurance, 2005-06, Vol.72 (2), p.193-226 |
| issn | 0022-4367 1539-6975 |
| language | eng |
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| source | RePEc; Business Source Complete; JSTOR Archive Collection A-Z Listing; Wiley Online Library All Journals |
| subjects | Aircraft Analysis Asset backed securities Balance sheets Cash flow forecasting Credit insurance Default Financial institutions Financial instruments Financial transactions Fixed rates Government sponsored enterprises Influence Institutional investments Insurance industry Insurance policies Insurance providers Insurance regulation Investment risk Investors Liability insurance Life insurance Mortgages Profits Risk management Savings & loan associations Securitization Studies |
| title | Securitization of Life Insurance Assets and Liabilities |
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