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In the US there's basically a 110% chance that whatever insurance policy you took has become a part of some derivative contract with swaps or whatever. And eve
by vikramkr 6y ago
In the US there's basically a 110% chance that whatever insurance policy you took has become a part of some derivative contract with swaps or whatever.
And everyone financially engineers insurance if they have anything resembling a free market.
Reinsurance in denmark: https://www.lexology.com/library/detail.aspx?g=654d1fd4-cffc-4a72-8a5c-d89d7c7f8529 https://www.lexology.com/library/detail.aspx?g=654d1fd4-cffc...
First result for Denmark insurance swaps: https://books.google.com/books?id=XsbFBgAAQBAJ&pg=PA34&lpg=PA34&dq=denmark+insurance+swaps&source=bl&ots=nAmPyCE-hm&sig=ACfU3U3wm1-o99wz4ltQ8gByXF7XRKylag&hl=en&sa=X&ved=2ahUKEwivzoyCgoTqAhV4SDABHWuyD1wQ6AEwAHoECAUQAQ#v=onepage&q=denmark%20insurance%20swaps&f=false https://books.google.com/books?id=XsbFBgAAQBAJ&pg=PA34&lpg=P...
- ISL 6y agoEven the "110%" number is apt to be correct, as someone has probably sold one of those derivatives short.
- vikramkr 6y agoGood point - I meant that as hyperbole but if you want to start counting shorts and swaps on swaps and swaps on shorts and shorts on swaps and reinsurance and swaps on reinsurance and so and and so forth, well, that gets really big really fast. Let's just say there was a reason we were so worried about AIG going under during the previous financial crisis.