supervisory data set, this paper investigates competition and efficiency in the Dutch life insurance market by estimating unused … economies decrease but substantial differences between small and large insurers remain. A direct measure of competition confirms … competition from banks, the so-called investment policy crisis or the credit crisis, apart from lower returns in 2008 …

The lack of available prices in the Dutch life insurance industry makes competition an elusive concept that defies … direct observation. Therefore, this paper investigates competition by analysing several factors which may affect the … Xinefficiency, since severe competition would force firms to exploit available scale economies and to reduce X-inefficiencies. Both …