巨災債券架構發展的趨勢

The Tendency of Great Disaster Bond Framework Development

全球氣候極端的變化，世界各地同時間有的地區乾旱與澇水情況發生、2008年初，中國近50年一遇的雨雪冰凍災害波及21個省區市；農作物受災面積超過2億畝絕收面積超過3000萬畝、2011年紐西蘭和日本發生7級至9級的大地震，巨災債券這個市場愈加重要，然巨災債券的架構應設定明確的定義令人滿意的競爭需求及投資人、評等機構、監理機構和發行人的渴望，而有新的發展方向。本文就針對台灣的產物保險公司的再保險費發行巨災債券的可行性，就發行人和投資人將進入市場並改善債券的架構做探討，藉此可以降低台灣的產物保險公司的再保險成本與活化之資金運用。

Global climate changes extremely all over the word, some area suffers from droughty and the occurrence of flood in others simultaneously. In early 2008, the disaster f one week-long heavy freezing rain and snow in China strongly affected 21 provincial capital area cities; the damage of crops area involved 200,000,000 acres, while the fallow land covered 30,000,000 acres. In 2011, New Zealand and Japan suffered from the serious earthquakes of seven magnitudes to mine magnitudes. Therefore, the market of great disaster bond is even more important. However, the framework of great disaster bonds should establish the explicit definition-to satisfy the competitive demands, and the desires of the investors, the evaluation and supervision institutes, as the issuers-to have new direction for future development. This article aims to explore and discuss the new issuers and investors who are willing to enter the market and improve the bond framework as well.