Risk magazine - Vol 15 / No 7

Insurers embrace risk systems

Insurance companies have been slower than banks to adopt advanced risk modelling techniques and technologies. But regulatory changes and business exigencies are spurring them to adopt a new generation of risk and capital management systems

The evolving art of pricing cliquets

Cliquet options are widely traded and embedded in many retail structured products. But they are hard to value and some dealers claim their rivals are mis-pricing them. Navroz Patel reports on the debate and some initiatives that may help

A crisis of identity

Recent news stories have highlighted a controversy over identification of the specific reference entity in certain credit derivatives contracts. Troubling as this is, it reflects a more pervasive lack of discipline among financial institutions. In this…

An aggressive agenda

Dresdner’s chief risk officer, Heinrich Linz, is masterminding a credit revolution at the German bank.

Getting the deal done

Falling equity valuations have made funding a merger or acquisition with stock difficult. Equity derivatives dealers are devising and updating hedges to ensure deals get done despite the bear market. Rob Dwyer examines the latest techniques

Job moves

QUOTE OF THE MONTH: - “Chairman Harvey Pitt [of the US Securities and Exchange Commission] and I are in close contact, and I sometimes hope that every conversation I have with him will be the last on the single-stock futures issue” James Newsome,…

Esops: time to hedge?

With share prices depressed, now seems a good time for companies with large employee stock option plans to hedge them. Why aren’t corporate treasurers acting?

Q1 scapegoats: energy and weather

Risk’s second quarterly round-up of corporate risk disclosures provides some evidence that companies are becoming more forthcoming. But losses on hedgeable exposures, especially energy and weather, continued to plague many

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