Systemic risk and insurance
Pré-publication, Document de travail: The literature generally agrees that the traditional insurance sector is not a source of systemic risk, and insurers are often considered to be shock absorbers rather than shock amplifiers. Yet, the evolution of the industry both in terms of structure (concentration of the reinsurers, increased linkages with banks, especially through bancassurance conglomerates) and in terms of techniques (securitization, monolines, derivatives) increased the systemic relevance of the insurers.
Mots-clés JEL
Mots-clés
- Insurance
- Systemic risk
- International regulation
Référence interne
- PSE Working Papers n° 2015-39
URL de la notice HAL
Version
- 1