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Financial Economics of Insurance

Ralph S.J. Koijen Motohiro Yogo

$135

Hardback

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English
Princeton University Press
04 April 2023
An authoritative and comprehensive graduate textbook on the modern insurance sector.

The traditional role of insurers is to insure idiosyncratic risk through products such as life annuities, life insurance, and health insurance. With the decline of private defined benefit plans and government pension plans around the world, insurers are increasingly taking on the role of insuring market risk through minimum return guarantees. Insurers also use more complex capital management tools such as derivatives, off-balance-sheet reinsurance, and securities lending. Financial Economics of Insurance provides a unified framework to study the impact of financial and regulatory frictions as well as imperfect competition on all insurer decisions. The book covers all facets of the modern insurance sector, guiding readers through its complexities with empirical facts, institutional details, and quantitative modelling.

An up-to-date textbook for graduate students in economics, finance, and insurance Covers a broad range of topics, including insurance pricing, contract design, reinsurance, portfolio choice, and risk management Provides promising new directions for future research Can be taught in courses on asset pricing, corporate finance, industrial organisation, and public economics An invaluable resource for policymakers seeking an empirical and institutional account of today's insurance sector
By:   ,
Imprint:   Princeton University Press
Country of Publication:   United States
Dimensions:   Height: 235mm,  Width: 156mm, 
ISBN:   9780691193267
ISBN 10:   0691193266
Pages:   208
Publication Date:  
Audience:   General/trade ,  ELT Advanced
Format:   Hardback
Publisher's Status:   Active

Ralph S. J. Koijen is the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Motohiro Yogo is a Professor of Economics and the Hugh Leander and Mary Trumbull Adams Professor for the Study of Investment and Financial Markets at Princeton University.

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