English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

In this paper, we establish a comparison between one of the most traded financial derivatives in the markets, the so-called catastrophe bonds (abbreviated as cat bonds) and the corporate bonds. In the first section, we start from a brief definition as well as some basic concepts. In section two, we will enumerate the type of investors to whom these products might interesting and how to price them. Afterwards, in section three we move onto the analysis of the trading rule proposed, that is, the comparison with Corporate bonds, our benchmark, in terms of expected returns. In sections four and five, we will point out some key issues on how the credit risk associated to these products can be reduced and, finally, in the last section, we will conclude with some discussions and remark the state-of-the-art research on this field. || En este articulo establecemos una comparacion entre uno de los derivados financieros mas negociados en los mercados, los llamados bonos catastrofe (abreviados como bonos CAT) y los bonos corporativos. En la primera seccion comenzamos con una breve definicion y algunos conceptos basicos. En la seccion dos, enumeraremos el tipo de inversores para quienes estos productos pueden ser interesantes y como se podria fijar el precio. Posteriormente, en la seccion tres, pasamos al analisis de la regla de negociacion propuesta, es decir, la comparacion con los bonos corporativos, nuestro punto de referencia, en terminos de rentabilidad esperada. En las secciones cuatro y cinco senalaremos, respectivamente, algunas cuestiones clave sobre como se puede reducir el riesgo de credito asociado a estos productos y, finalmente, en la ultima seccion, concluiremos con algunas discusiones y comentaremos las investigaciones mas recientes sobre este tema.

Insurance Options: Beating the benchmark. Are Catastrophe Bonds more profitable than Corporate Bonds?