According to the different altering method of the cash flow, we divide the catastrophic risk securitization into risk financing and risk transferring and introduce several catastrophic risk securitization instruments: Cat Bonds, Cat Swaps, Cat-Equity puts.
然后根据现金流的改变的方法的不同，将巨灾风险证券化分为巨灾风险融资和巨灾风险转嫁，并详细介绍了现阶段具有代表性的几种的巨灾风险证券化工具：巨灾债券、巨灾互换、巨灾权益卖权。
参考来源 - 巨灾风险的证券化与证券的设计·2,447,543篇论文数据，部分数据来源于NoteExpress
Like cat bonds, they are complex instruments, offering reinsurance by issuing debt to investors.
与cat bond类似，它们也是复杂金融工具，通过发行债券为投资者提供再保险。
There are issuers, investors and SPV in the CAT bonds issuing market. National insurers and enterprises can also apply CAT bonds to managing catastrophe risk.
运用巨灾债券转移、分散巨灾风险显然对我国保险公司、再保险公司及大型企业的风险管理具有明显的借鉴意义。
Abstract: : As a new financial instrument, the risk premium of CAT bond has been much higher than that of traditional bonds with same credit rating since its issue.
摘要：作为一种新型群金融工具，巨灾风险债券自发行以来所附带的风险收益就远高于同等级传统债券的收益。
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