Risk 2002 USA: Convergence opportunities growing

Growing product crossovers between the insurance sector and the derivatives markets have provided a range of attractive risk transfer opportunities, according to participants in a panel discussion on convergence at Risk’s 8th annual US congress in Boston this morning.

While the panel, moderated by Andrew Palmer, head of credit derivatives marketing at JP Morgan Chase, did not exactly agree on the definition of "convergence", they agreed that risk transfer volumes are growing steadily.

Matthew Cooleen, president of Chubb Financial Solutions, said the convergence process is being driven by insurance companies seeking to diversify their portfolio of investments. "Insurance companies are now arguably the largest buyer of synthetic products, and it is not too

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