In the paper we present a securitized bond set in the macrocosm of sustainable fi-nance. The product is generated by a securitization scheme that involves three actors: firms, issuing insurance contracts to protect the health of workers; insurers; investors, betting on the good health management of workers. The product is a derivative linked to an underlying representing the trend of the pandemic, specifically the present COVID-19 number of infected persons compared to its expected value. Aim of the paper is to frame the product in specific categories recognized within the ESG criteria. In particular, two specific categories are identified within the Principles Responsible Investments, which integrate the bond within the ESG products. Moreover, from an insurance point of view, the product can be considered within the most innovative asset categorization for impact finance, recent for the insurance sector. This area en-compasses a limited number of recently developed tools aimed to sustainability and impact.

Socio-economic challenges at the time of COVID-19: the proactive role of the insurance industry

E. Di Lorenzo;E. Scognamiglio;R. Tizzano
2022

Abstract

In the paper we present a securitized bond set in the macrocosm of sustainable fi-nance. The product is generated by a securitization scheme that involves three actors: firms, issuing insurance contracts to protect the health of workers; insurers; investors, betting on the good health management of workers. The product is a derivative linked to an underlying representing the trend of the pandemic, specifically the present COVID-19 number of infected persons compared to its expected value. Aim of the paper is to frame the product in specific categories recognized within the ESG criteria. In particular, two specific categories are identified within the Principles Responsible Investments, which integrate the bond within the ESG products. Moreover, from an insurance point of view, the product can be considered within the most innovative asset categorization for impact finance, recent for the insurance sector. This area en-compasses a limited number of recently developed tools aimed to sustainability and impact.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11588/883365
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