Public Insurance And Private Markets

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Public Insurance And Private Markets

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Author : Jeffrey R. Brown
language : en
Publisher: AEI Press
Release Date : 2010-07-16

Public Insurance And Private Markets written by Jeffrey R. Brown and has been published by AEI Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-16 with Political Science categories.

Public Insurance and Private Markets offers market-based guidelines for the proper scope of government intervention and the design of public insurance programs_guidelines that will benefit the U.S. economy and protect the resources of future generations.

Asset Allocation And Private Markets

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Author : Cyril Demaria
language : en
Publisher: John Wiley & Sons
Release Date : 2021-04-19

Asset Allocation And Private Markets written by Cyril Demaria and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-19 with Business & Economics categories.

The comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the “endowment model,” and hedging — or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.

Private Insurance Public Welfare And Financial Markets

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Author : Arjen van der Heide
language : en
Publisher:
Release Date : 2022

Private Insurance Public Welfare And Financial Markets written by Arjen van der Heide and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.

Contemporary capitalist societies use different institutions to manage economic risks. While different public welfare state and financial institutions (banks, capital markets) have been studied across coordinated and liberal market economies, this paper adds the private insurance sector to the study of countries' security arrangements, following up on Michel Albert's classical distinction between Alpine and Maritime insurance cultures. Building on extensive new insurance data collections (1880-2017) and institutional analysis, this paper corroborates the long-run historical existence of two worlds of private insurance. Maritime countries (USA, GBR, CAN) developed much bigger life and non-life insurance earlier, with no state-associated insurance enterprises and riskier investments steered towards financial markets. Alpine insurance (AUT, DEU, CHE), by contrast, was initially smaller, with strong state involvement, a significant reinsurance tradition and relatively heavy investments in mortgages and property, due to economic and financial backwardness. We argue that the larger and more "Maritime" the insurance sector, the more it made welfare states liberal and securities markets large. Insurance is thus a hidden factor for countries' varieties of capitalism and world of welfare. The recent convergence on the Maritime model, however, implies that the riskier and risk-individualizing type of private insurance has added to privatization and securitization trends everywhere.

Private Equity And Life Insurers

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Author : Fabio Cortes
language : en
Publisher: International Monetary Fund
Release Date : 2023-12-19

Private Equity And Life Insurers written by Fabio Cortes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-19 with Business & Economics categories.

This Global Financial Stability Note studies the growing trend of private equity (PE) investments into the life insurance industry. PE companies’ investments in life insurers are integral to their strategic growth as PE firms evolve beyond the traditional leveraged buyout transaction to acquire diverse businesses across private credit, structured credit, private real estate funds, and private infrastructure funds. This note reviews the growth in PE investments through the lens of the diverse acquisition incentives and strategies, the consequent changes to asset allocation and investment strategies of the acquired life businesses, and potential prudential and policy implications.

The Interaction Of Partial Public Insurance Programs And Residual Private Insurance Markets

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Author : Amy Finkelstein
language : en
Publisher:
Release Date : 2002

The Interaction Of Partial Public Insurance Programs And Residual Private Insurance Markets written by Amy Finkelstein and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Government insurance categories.

A ubiquitous form of government intervention in insurance markets is to provide compulsory, but partial, public insurance coverage and to allow voluntary purchases of supplementary insurance on the private market. Yet we know little about the effects of such programs on total insurance coverage and on welfare. A primary concern is that the compulsory public insurance program - designed to counter the effects of adverse selection in the private insurance market - may in fact exacerbate adverse selection pressures in the residual private insurance market. Theoretically, however, these programs may either improve or impair the functioning of the residual private insurance market. To examine this question empirically, I investigate the effect of the U.S. Medicare program - which provides partial public health insurance to individuals aged 65 and over - on the private insurance market for prescription drugs, a benefit not provided by the public program. The results suggest that Medicare does not have substantial spillover effects on residual private insurance markets. In particular, there is no evidence that Medicare is associated with increased adverse selection problems in the residual private health insurance market

Public Insurance In Private Medical Markets

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Author : H. E. Frech
language : en
Publisher:
Release Date : 1978

Public Insurance In Private Medical Markets written by H. E. Frech and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.

Monograph comprised of an economic analysis on the advantages derived from a health policy which combines national level health insurance with private sector health services in the USA - suggests that the realization of quantity and quality medical care is dependent on free competition, which better reflects consumer demand, and advocates health maintenance organizations, ie. Private group health plans, as a viable supplement to plans. Graphs.

Insurance And Investment Management M A Deskbook

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Author : Debevoise & Plimpton Llp
language : en
Publisher:
Release Date : 2015-05-07

Insurance And Investment Management M A Deskbook written by Debevoise & Plimpton Llp and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-07 with Consolidation and merger of corporations categories.

An evolving regulatory landscape and changing economic conditions continue to affect business organization and capital requirements in the global insurance industry, leading to new participants, new transactions, and new challenges. PLI's new Insurance and Investment Management M&A Deskbook provides attorneys with an essential reference to keep up with emerging trends in insurance and investment management M&A. The Deskbook covers topics such as acquisitions of public insurance companies, blocks of insurance business and private acquisitions; the regulatory environment of the insurance industry and the financial services industry; investment in the insurance industry by private equity and pension funds; and the expansion of insurance industry participants into emerging markets around the globe. The Deskbook also provides specific guidance for understanding Lloyd's of London and the M&A market for mutual life insurers.

When Worlds Collide

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Author :
language : en
Publisher:
Release Date :

When Worlds Collide written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Katie Merrell reviews characteristics of public policy and private markets for personal health insurance to understand how they affect the cost of insurance at different income levels. While policy-makers worry that expanding public insurance programs will "crowd out" private insurance, they typically do not acknowledge the reality of the private insurance market faced by low-wage workers, nor the public subsidy enjoyed by higher-wage workers who purchase insurance through their employers. The regressive tax treatment of employment-based health insurance, combined with its enhanced value, make private market health insurance most expensive for lowest-income purchasers. This paper illustrates the net effect of public and private factors on the after-tax price per actuarial value of insurance, creating a framework that can be used to assess proposals for expanding insurance coverage in the United States.

Catastrophe Insurance Capital Markets And Uninsurable Risks

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Author : Thomas Russell
language : en
Publisher:
Release Date : 2009

Catastrophe Insurance Capital Markets And Uninsurable Risks written by Thomas Russell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

This paper examines the causes of the failure of the private market for catastrophe insurance and examines some public solutions. Although the standard explanations of insurance market failure (adverse selection and moral hazard, large imprecise risks) are present, we argue that the primary explanation for the failure of this market lies in the inability of insurance companies to arrange for the level of capital necessary to settle a large loss. We examine four reasons for this: a) accounting provisions which preclude the setting up of reserves against losses anticipated but not yet incurred, b) the absence of tax incentives to reserve, c) management fear of loss of control associated with takeovers of companies with large stocks of free cash, and d) reluctance of regulators to raise the rates of firms with large holdings of cash. We examine new capital instruments (catastrophe options, contingency bonds) but find that these new instruments at present fail to provide adequate quantities of capital to meet a large loss. We then examine public schemes in California, Florida, and Hawaii, and argue that if the accounting, tax and regulatory advantages enjoyed by these schemes were made available to the private sector, private corporations would be likely to reenter this market.

Designing A Mixed Public And Private System For The Health Insurance Market

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Author : Bryan Dowd
language : en
Publisher:
Release Date : 2009

Designing A Mixed Public And Private System For The Health Insurance Market written by Bryan Dowd and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.