Hal W. Pedersen

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We examine the pricing of catastrophe risk bonds. Catastrophe risk cannot be hedged by traditional securities and thus the pricing of catastrophe risk bonds must be examined in an incomplete markets setting and therefore entails special difficulties in the pricing methodology. We present techniques for pricing these bonds and discuss this theory in the(More)
This paper explains securitization of insurance risk by describing its essential components and its economic rationale. We use examples and describe recent securitization transactions. We explore the key ideas without abstract mathematics. Insurance-based securitizations improve opportunities for all investors. Relative to traditional reinsurance,(More)
UNLABELLED The effect of smoking on breastfeeding was studied in 252 mothers with insulin-dependent diabetes mellitus (IDDM) giving birth in the period 1985-1995 and of whom 31% were classified as White group B, 16% group C, 37% group D and 16% group F or R. As part of a centralized regimen a detailed smoking history was taken during pregnancy. Forty-six(More)
A prospective investigation of 52 children with infantile spasms was carried out employing computed tomography. Normal conditions were demonstrated in 21 (40%). Among the 31 children with pathological computed tomografic findings, dilatation of the ventricular system and/or subarachnoid space was found in nine cases (17%), congenital malformations in ten(More)