Making a market for acts of God: the practice of risk trading in the global reinsurance industry

Jarzabkowski, Paula, Bednarek, Rebecca and Spee, Paul Making a market for acts of God: the practice of risk trading in the global reinsurance industry. Oxford, United Kingdom: Oxford University Press, 2015.

Attached Files (Some files may be inaccessible until you login with your UQ eSpace credentials)
Name Description MIMEType Size Downloads
Author Jarzabkowski, Paula
Bednarek, Rebecca
Spee, Paul
Title Making a market for acts of God: the practice of risk trading in the global reinsurance industry
Place of Publication Oxford, United Kingdom
Publisher Oxford University Press
Publication year 2015
Sub-type Research book (original research)
Open Access Status Not Open Access
ISBN 9780199664764
Language eng
Total number of pages 256
Collection year 2016
Formatted Abstract/Summary
Reinsurance is a financial market that trades in the risk of unpredictable and devastating disasters - such as Hurricane Katrina, the Tohoku earthquake and tsunami, and the terrorist attacks on the World Trade Centre. Such disasters are increasing in both frequency and severity, with the cost of their losses mounting rapidly. Reinsurance insures insurance companies, enabling them to pay claims arising from these losses. It is thus a market mechanism that is a critical part of the social and economic safety net, helping to pick up the pieces after disasters. Yet, how is the risk of such disasters calculated and traded in a global market?

This book brings to life the reinsurance market through vivid real-life tales that draw from an ethnographic, "fly-on-the-wall" study of the global reinsurance industry over three annual cycles. The authors shadowed underwriters around the world as they traded risks through multiple disasters. For instance, this book takes readers into the desperate hours of pricing Japanese risks during March 2011, while the devastating aftermath of the Tohoku earthquake is unfolding. To show how the market works, the book offers authentic tales gathered from observations of reinsurers in Bermuda, Lloyd's of London, Continental Europe and SE Asia as they evaluate, price and compete for different risks as part of their everyday practice.
Q-Index Code A1
Q-Index Status Provisional Code
Institutional Status UQ

 
Versions
Version Filter Type
Citation counts: Google Scholar Search Google Scholar
Created: Thu, 02 Oct 2014, 10:59:52 EST by Karen Morgan on behalf of UQ Business School