Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

An alternating current

7 October 2009

Transformer vehicles - which convert (re)insurance risk into derivative form and vice versa - have enjoyed years of continued growth by providing a vital service to dedicated ILS investors hampered by convergence market inefficiencies.

Current regulatory treatment of insurance-linked instruments - by the European directive Solvency I and US accounting rules under GAAP and the Financial Accounting Standards Board - ties the convergence market in knots and constricts the format of (re)insurance risk transfer.

Capital market investors are unable to...

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