| Xinjiang is the natural disasters of the multiple areas, especially because in geographicallocation, the perennial suffer all kinds of natural disasters, the effects of the production topeople’s life brought the big losses. Xinjiang as a big province of agricultural production, andagricultural production and to a great extent by natural disasters, the influence of naturaldisasters on how to reduce the damage of the xinjiang agricultural production becameinfluence economic development of important problems in xinjiang. Currently make up forthe lost except the government’s relief funds method, mainly still rely on xinjiang agriculturalinsurance. The government and the insurance industry produces major natural disasters in theface of pressure also with natural disasters, frequency and scale increased. Due to naturaldisasters occurred frequently, all kinds of agricultural insurance products through thestubbornly high also. And in recent years, with the market economy is gradually reform,insurance competition pressure is more and more big, the government gives all policy helpgradually was also reduced. Therefore, how to solve the shortage of funds, agriculturalinsurance effective demand not available in the is the purpose of this study.This paper lessons from the American financial derivatives insurance connectionsecurities, also called the securitization of catastrophe risk, it will be of the insurance marketrisk scattered to the capital market, capital market from a a great deal of money, expandinsurance to accept insurance capacity, effectively improve the insurance to resist the abilityof the risk, at the same time, so the government can get rid of "finally the underwriter"awkward situation. The securitization of catastrophe risk a variety of products, includingcatastrophe options, catastrophe futures, catastrophe exchange and the catastrophe bonds.And one of the catastrophe bonds because of its own compared with other catastropheproducts advantages, is being widely used to catastrophe risk management. This article fromnow on, and combining of the practice of China’s capital market, considering the bonds inChina in the form of higher level of acceptance, xinjiang agricultural disaster risk andcatastrophe bonds, combined with the design and calculation of the present agriculturaldisaster bonds issued in xinjiang, the scale and level of interest rates apply.This article first introduces the securitization of catastrophe risk of the basic concepts and principles, this paper introduces the securitization of different products, especially theunique catastrophe bonds and the mode of operation of the attribute, second to xinjiangagricultural disaster and catastrophe bonds may do the combination of made the analysis, itputs forward the government debt issued agricultural natural disasters form bonds to avoidthe catastrophe bonds in China in the operation of the various restrictions, and the operationmechanism made some Suggestions. Finally, based on the60years of happened in xinjiangagricultural natural disasters data, to its loss distribution, by fitting the application inagricultural disaster bond issue size, with actual data as the foundation, according to thecapital asset pricing model to calculate the xinjiang issue different types of agriculturaldisaster bond interest rate and feasible price. |
