Accurate simulations of the global radiative impact of anthropogenic emissions must employ a tropospheric chemistry model that predicts realistic distributions of aerosols of all types. The need for ...such a comprehensive yet computationally efficient tropospheric chemistry model is addressed in this research via systematic development of the various sub-models/mechanisms representing the gas-, aerosol-, and cloud-phase chemistries. The gas-phase model encompasses three tropospheric chemical regimes--background and urban, continental rural, and remote marine. The background and urban gas-phase mechanism is based on the paradigm of the Carbon Bond approach, modified for global-scale applications. The rural gas-phase chemistry includes highly condensed isoprene and $\alpha$-pinene reactions. The isoprene photooxidation scheme is adapted for the present model from an available mechanism in the literature, while an $\alpha$-pinene photooxidation mechanism, capable of predicting secondary organic aerosol formation, is developed for the first time from the available kinetic and product formation data. The remote marine gas-phase chemistry includes a highly condensed dimethylsulfide (DMS) photooxidation mechanism, based on a comprehensive scheme available in the literature. The proposed DMS mechanism can successfully explain the observed latitudinal variation in the ratios of methanesulfonic acid to non-sea-salt sulfate concentrations. A highly efficient dynamic aerosol growth model is developed for condensing inorganic gases. Algorithms are presented for calculating equilibrium surface concentrations over dry and wet multicomponent aerosols containing sulfate, nitrate, chloride, ammonium, and sodium. This alternative model is capable of predictions as accurate for completely dissolved aerosols, and more accurate for completely dry aerosols than some of the similar models available in the literature. For cloud processes, gas to liquid mass-transfer limitations to aqueous-phase reactions within cloud droplets are examined for all absorbing species by using the two-film model coupled with a comprehensive gas and aqueous-phase reaction mechanisms. Results indicate appreciable limitations only for the OH, HO$\sb2$, and NO$\sb3$ radicals. Subsequently, an accurate highly condensed aqueous-phase mechanism is derived for global-scale applications.
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Edward Morris, CFA ...
J.P. Morgan Equities Research Reports,
06/2016
Report
We hosted our third European Insurance Conference in London, which brought together insurance companies and key industry players such as rating agencies, IASB, IMF, ABI, and JPM traders, to get a 360 ...degree perspective on current developments in the sector. Our key takeaways were around 1) Solven...
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Edward Morris, CFA ...
J.P. Morgan Equities Research Reports,
04/2016
Report
We have updated our regular publication on the balance sheet exposures of the European insurers post the FY15 results season. Credit exposure: Credit deterioration is by far the Insurance sector's ...biggest risk, in our view, and as credit spreads widen, we expect an increasing focus on the cre...
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Edward Morris, CFA ...
J.P. Morgan Equities Research Reports,
11/2015
Report
We have updated our regular publication on the balance sheet exposures of the European insurers post the 3Q15 results season. Over the past couple of quarters, the key concerns building up regarding ...the insurers balance sheets are: 1) exposure related to oil and energy; and 2) exposure to Eme...
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Edward Morris, CFA ...
J.P. Morgan Equities Research Reports,
09/2015
Report
We have updated our regular publication on the balance sheet exposures of the European insurers post the 2Q15 results season. Over the past couple of quarters, the key concerns building up over ...insurers' balance sheets are 1) exposure related to oil and energy; and 2) exposure to emerging mar...
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Edward Morris, CFA ...
J.P. Morgan Equities Research Reports,
04/2015
Report
We have updated our regular publication on the balance sheet exposures of the European insurers post the FY14 results season. The gross exposure of insurance companies to Italian government bonds was ...around €157bn at FY14 whereas exposure to Spanish government bonds remained at around €68bn a...
European Insurance Ashik Musaddi, CFA; Michael Huttner, CFA; Andreas van Embden ...
J.P. Morgan Equities Research Reports,
11/2014
Report
We have updated our regular publication on the balance sheet exposures of the European insurers post the 3Q14 results season. The gross exposure of insurance companies to Italian government bonds was ...around €152bn at 3Q14 whereas exposure to Spanish government bonds remained at around €60bn a...
