Insurance Linked Securities: The Role of the Banks

Christoph Weber wrote his dissertation under the supervision of Prof. Dr. Rainer Stöttner at University of Kassel. He works for an international commercial bank in Germany as a senior relationship manager focussing on credit business with clients in the insurance and reinsurance industry.

Securitisations of insurance risk as new methods of risk transfer have been emerging in the global financial market during the recent twenty years. Christoph Weber analyses the techniques of traditional methods in comparison with securitisations for life- and non-life insurance risk. During his stay for expert interviews in the USA in October 2008 the investment bank Lehman Brothers defaulted triggering one of the deepest global economic crises in history. Strengths and weaknesses of the different products became obvious. In addition, an online survey about the market status and the banks’ role is analysed. Readers get an insight into the drivers and obstacles the different stakeholder groups face.