جواد سهامیان مقدم

one of the most important institutions in the financial market is insurance. It helps people to reduce the risk of life-threatening conditions. Insurance companies, on the other hand, face different risks depending on the issue to insurers. Therefore, these companies are looking for ways to transfer their risk. Disaster reliance insurance is an important tool for insurance companies to protect against very large risks and capital management. Today, catastrophic reinsurance insurance bonds have been considered as an alternative source of financing for reinsurance property and accident insurance.

The first purpose of insurance securities is financing. Today, life insurers are looking for changing some of their insurance policies into securities and increase their stock returns through capital efficiency. The second purpose of converting insurance securities is the main function of the insurance industry, such as risk transfer. Non-life insurance securities are generally issued for this purpose, especially insurance and reinsurance. Therefore, reinsurance prices are one of the key factors in the possibility of issuing these bonds. Studies such as the present study could help policy makers to develop effective policies to use catastrophic accident bonds in order to increase the acceptance capacity of reinsurance.

The research strategy used is the Foundation's Data Theory. The most important methods of data collection in this research are: Gathering information from library resources including: articles, books and the World Wide Web to compile theoretical foundations and background research. The data and information collection of the qualitative statistical population was collected by interviewing insurance industry experts in order to develop a theoretical model.

 The primary purpose of this research is to design a model to increase the acceptance capacity of reliance on insurance securities. In this study, based on the available interviews, finally six general categories (main category), twelve concepts and thirty-two codes extracted in the form of open coding and central coding were obtained in the process of data theory. By conducting interviews and analyzing the data, the researcher gained a deeper insight into the experience of the interviewees. Then, between the identified categories and features in the initial stage of open coding, reciprocating or zigzag movement was performed. The new concepts identified in the new studies were added to the previously identified categories. In necessary cases, some categories were renamed and the connection between different categories and concepts was formed.

The results demonstrated that the causal economic and non-economic conditions as the policy casual conditions cause to grow the capacity of reinsurance acceptance through Catastrophic accidents bonds in the insurance industry and the policy dimensions of increasing the capacity of accepting reinsurance by using Catastrophic accidents bonds have included insurance and exchange dimension. The underlying conditions are included macro and micro, and also the intervening conditions are long-term and short-term. This model of strategy is included a structural and institutional action. Finally, the consequences of the phenomenon of growing the capacity of accepting reinsurance through catastrophic accidents bonds are indirect and direct outcomes. Finally, we provide some suggestions to each of the various stakeholders involved in policy making of growing the capacity of accepting reinsurance through catastrophic accidents bonds.