目前,美国保险市场中出现了一种保险证券(Insurance Security),这一新业务的出现,将传统意义上的风险管理带入了一个新境界。保险证券是一种创新金融工具,是将保险业务与证券市场有机联系起来的产物。保险证券的持有者是证券发行机构的股东或债主,有权享受证券的回报,亦可在市场中转让证券。与其他证券不同的是,保险证券是 At present, there is a kind of Insurance Security in the American insurance market. The advent of this new business brings the risk management in the traditional sense into a new realm. Insurance is an innovative financial instrument, which is the product of the organic connection between insurance business and securities market. Holders of insurance securities are the shareholders or creditors of the securities issuer, entitled to the return of the securities, and to the transfer of securities in the market. Unlike other securities, insurance securities are