Emergence of "total return reinsurers"
<?xml version="1.0" encoding="UTF-8"?><modsCollection xmlns="http://www.loc.gov/mods/v3" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-8.xsd">
<mods version="3.8">
<titleInfo>
<title>Emergence of "total return reinsurers"</title>
</titleInfo>
<name type="corporate" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080441371">
<namePart>A.M. Best Company</namePart>
<nameIdentifier>MAPA20080441371</nameIdentifier>
</name>
<typeOfResource>text</typeOfResource>
<originInfo>
<place>
<placeTerm type="code" authority="marccountry">usa</placeTerm>
</place>
<issuance>monographic</issuance>
<place>
<placeTerm type="text">New Jersey</placeTerm>
</place>
<publisher>A.M. Best Company</publisher>
<dateIssued>2020</dateIssued>
</originInfo>
<language>
<languageTerm type="code" authority="iso639-2b">eng</languageTerm>
</language>
<physicalDescription>
<form authority="marcform">print</form>
<extent>9 p.</extent>
</physicalDescription>
<abstract displayLabel="Summary">A total return reinsurer contemplates risk and returns from both sides of the balance sheet, by deploying risk capital where the best opportunities present themselves, whether as investments or reinsurance contracts. These opportunity sets are analyzed in tandem, under the common assumption of low correlation between investment returns and reinsurance results for most lines of business.AM Best views the total return reinsurer as a relatively recent manifestation of the alternative capital concept, which started with the first issuance of catastrophe bonds in the mid-1990s, following the Northridge earthquake and Hurricane Andrew. Most of the total return reinsurers were formed in 2012, in a tenuous and deteriorating reinsurance rate environment, as well as a historically very low interest rate environment.</abstract>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080552367">
<topic>Reaseguro</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080563974">
<topic>Rentabilidad</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080558970">
<topic>Inversiones</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080600501">
<topic>Contrato de reaseguro</topic>
</subject>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080586294">
<topic>Mercado de seguros</topic>
</subject>
<classification authority="">5</classification>
<relatedItem type="series">
<titleInfo>
<title>Best's Special Report</title>
<partNumber>Trend review August 28, 2020</partNumber>
</titleInfo>
</relatedItem>
<relatedItem type="series" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20090030251">
<titleInfo>
<title>Best's special report</title>
<partNumber>Trend review ; August 28, 2020</partNumber>
</titleInfo>
</relatedItem>
<recordInfo>
<recordContentSource authority="marcorg">MAP</recordContentSource>
<recordCreationDate encoding="marc">190322</recordCreationDate>
<recordChangeDate encoding="iso8601">20200922113201.0</recordChangeDate>
<recordIdentifier source="MAP">MAP20200029212</recordIdentifier>
<languageOfCataloging>
<languageTerm type="code" authority="iso639-2b">spa</languageTerm>
</languageOfCataloging>
</recordInfo>
</mods>
</modsCollection>