Antrittsvorlesung

The inaugural lecture explores the evolving role of insurers and reinsurers in the financial system and the real economy. It examines how insurers, as asset managers, institutional investors, and risk managers, create interconnections with other financial markets. Over the past three decades, the (re-)insurance industry has undergone significant transformation, becoming more integrated into the financial system. Insurers now participate in derivatives markets, provide financial guarantees, and manage catastrophic risks through cat bonds and insurance-linked securities. The lecture demonstrates how these developments enhance the sector's risk-bearing capacity, while also introducing new risks and complexities, which are explored through real-world examples.

Anastasia Kartasheva is an Associate Professor at the University of St.Gallen’s School of Finance, Director at the Institute of International Economics and Applied Economic Research, and a Faculty Member at the Swiss Finance Institute. Her research focuses on financial economics of insurance, banking, regulation, and systemic risk. She previously worked at the Bank for International Settlements (BIS), contributing to BIS-based committees of the Basel Committee, Financial Stability Board, and IAIS. Before joining St.Gallen, Anastasia was an Assistant Professor at the Wharton School, University of Pennsylvania. She holds a PhD from the University of Toulouse and degrees from the New Economic School and Lomonosov Moscow State University.