巨灾风险证券化研究

Study on Securitisation of Catastrophe Risk

巨灾风险证券化是金融业与保险业一体化发展的结果,它弥补了传统保险制度的功能缺陷,具有自身独特的优势。巨灾风险证券化的主要类型有巨灾债券、巨灾期货、巨灾期权、巨灾互换,其操作需要专业化的交易主体和适当的触发机制。我国发展巨灾风险证券化的策略是要正确认识发展巨灾风险证券化的必要性,有步骤地进行巨灾风险证券化的开发与设计以及完善巨灾风险证券化发展的外部环境。

Securitisation of catastrophe risk is the results of the integration of finance and insurance. It has many unique advantages, and makes up the function limitations of the system of the traditional insurance. Main instruments of catastrophe risk securitisation are catastrophe bond, catastrophe option, catastrophe future and catastrophes swap. The operation of catastrophe risk securitisation needs specialized participants and proper trigger mechanism. The strategies for the application of such securitisation in China include understanding the necessities; Issuing and designing products step by step and improving the external environment.