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近年来由于人为或者自然巨灾造成的损失越来越严重,导致保险公司和再保险公司面对巨灾风险无能为力。人们将眼光投向了资本市场,通过巨灾风险证券化,借助巨灾债券、巨灾互换等一系列金融手段来解决巨灾风险给保险业带来的困境。本文以巨灾债券为例,对于巨灾风险的危害、巨灾风险的发展趋势、巨灾债券的结构以及巨灾债券的触发条件作了浅显的介绍。
In recent years, losses due to man-made or natural catastrophes have become more and more serious, causing insurers and reinsurers to become powerless in the face of catastrophe risks. People look to the capital market, through the catastrophe risk securitization, catastrophe bonds, catastrophe swap and a series of financial instruments to solve the catastrophe risk to the insurance industry. Taking catastrophe bonds as an example, this paper introduces the hazard of catastrophe risk, the development trend of catastrophe risk, the structure of catastrophe bonds and the trigger conditions of catastrophe bonds.