There is a well - known saying in america : " securitize your dream . " aimed against the changes of international insurance industry , through the analysis of the characters and the enlarging trend of the catastrophe risk , this paper preliminarily considers on the securitization of catastrophe insurance both in theory and practices , on the basis of the discuss of the existing limitations of the traditional reinsurance towards the risk - scatter of the catastrophe insurance , using the international idea of the advanced insurance innovation and risk property - manage for reference 美国有句名言： “证券化你的梦” 。本文针对国际保险业经营环境的变化，通过对巨灾风险的特性及其不断扩大趋势的分析，在论述传统再保险对巨灾保险的风险分散所存在的局限的基础上，借鉴国际上先进的保险创新与风险理财理念，对巨灾保险证券化进行了理论与实践方面的初步探讨。
The preface of this paper introduce the increasing new risks which provides the playground to catastrophe insurance securitization . chapter 1 describes the development and theoretical resource of catastrophe insurance securitization . chapter 2 states the increasing catastrophe risks and the challenges to traditional reinsurance , as well as the effects that produced by catastrophe insurance securitization . chapter 3 , the main part of this paper , mainly discusses the several insurance derivatives . the main part discusses the several insurance derivatives produced by the securitization of catastrophe insurance : and etc , including the constructures operation advantages and disadvantages and the key factors of the dealing success 本文的绪论部分介绍了新兴风险的不断涌现及其对巨灾保险证券化所提供的背景；第一章介绍了保险证券化的发展及其理论基础；第二章论述了巨灾风险不断扩大的趋势下巨灾风险对传统再保险所提出的挑战和巨灾保险证券化对传统再保险的影响；其主体部分即第三章主要论述了巨灾保险证券化所产生的几种保险衍生型产品：巨灾债券、巨灾期权、气候期货与期权以及其他几种衍生型产品，包括其结构、运作、优缺点及其交易成功的关键因素等方面。
