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Sawasdee Actuary

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   “Pricing for Internet Distribution” by W. Howell Pugh, Product Matters! July 2003

     

* > "  )    Mortality Catastrophe Bond (' * >  MCB ) . News ( SOA *0 "/.  ()/$-'-  -*, $* * ( ) ) . ( '*** % ". Sawasdee Actuary 6 $  ( -(.(1  MCB   )   ((*-&* 

MCB (Mortality Catastrophe Bond) 7'*** %/0(  6 *-&* .* * ( )   ( mortality .*  *1*("/'% (*-&* ./7'**  ' 1 *8 securitization ( /*

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Features  8):('** MCB   ' )

1. Underlying mortality index 40( .7B'**2    * )   (/'% 6 E&F  ) * .'* *2 ) *2,  *  *2,(*-&*   MCB '6 ) 7 *-( 8  (   (1   .  *  (" 0(- .'**2 (*  * (population mortality) 7' (-( 2. Trigger Point 7 1 * (  ' 1   /'% 40(#'**2 ('  8/ . 1)   - 0" *-(

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(Mortality Catastrophe Bond - )

#$" ! %# & '(!  !) MCB  *  !%#+

*-(> MCB 7( /0(   )   (/ ** '* % stop-loss /* catastrophe reinsurance ' ( * MCB    ** ' ) MCB  ?:/*( risk ()   ( ):: -  ) / )  # - /'1/'% 0" *-( *8 stop-loss /* catastrophe reinsurance 7 *6# )  /   *-&** ' #*-&** '  # *(-($  )  /   - 0" *-( *# . 

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*-&*  -3%  *8 securitization / = 6  7'*** % Catastrophe bond 8/** ) 

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120% MCB 150% ('**2 $"B (-'(  ( /3 , *  ('**2 $"B

   “Mortality Catastrophe Bonds As a Risk Mitigation Tool” by Ronald L. Klein, Reinsurance News May 2006

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PLeAse sOLve ThiS sECreT

“Ahn Tae Song”

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