Discussion On Application Of Catastrophe Risk Securitization In China

一,The Research Topic and the Significance of the Topic China is a country with high frequency of catastrophic events. The average economic damage causing by catastrophic events in China was over RMB 100 billion per year in1990s. Such high cost has constrained the economic development of China. However, the corresponding research on catastrophe risk, especially on the catastrophe risk managing of insurance company is relatively not up to date in China, it can't cope with catastrophe risk of possibility.Reinsurance, as the traditional method of catastrophe risk transferring, has already developed very mature currently. Reinsurance has long been played an important role in the managing of catastrophe risk of insurers since it came into being. However, reinsurance has weakness of itself. So some insurers began developing a new class of financial instruments that transfer insurance risk to capital market. Catastrophe risk securitizations emerge with the tide of the times. Catastrophic risk securitization starts from 1990s, with an astounding developing speed. The research on the catastrophic risk securitization means a lot since it's a first-time combination of capital market and property insurance company. With the help of catastrophic risk securitization, insurance companies expand into a new market and the unbalanced cash flow is in balance again. So it is very important to lead into catastrophic risk securitization to our country. The purpose of the article is to introduce the catastrophic risk securitization into Chinese insurance market and survey the possible obstacles.二,Structure of this DissertationThe dissertation consists of five sections:Section 1 gives an introduction to the catastrophe risk conditions and the catastrophe risk management in our country. The catastrophe risk of...