【摘要】 越来越多的保险公司、再保险公司及大型企业倾向于发行巨灾债券来转移、分散巨灾风险,巨灾债券的出现是巨灾风险证券化的结果,在各种保险连结票据及其衍生品中,巨灾债券的发行量和交易量最大。巨灾债券有多种分类方式,巨灾债券发行的市场结构通常由发行人、投资者和SPV组成,巨灾债券的发行过程可以分为六个阶段。运用巨灾债券转移、分散巨灾风险显然对我国保险公司、再保险公司及大型企业的风险管理具有明显的借鉴意义。更多还原

【Abstract】 More and more insurers and enterprises employ CAT bonds to manage catastrophe risk. The catastrophe risk securitization result in the occurrence of CAT bonds. The volumes of CAT bonds issuing and exchanging are the largest among the insurance-linked notes and derivatives. There are issuers, investors and SPV in the CAT bonds issuing market. National insurers and enterprises can also apply CAT bonds to managing catastrophe risk.更多还原