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Pension fund efficiency: the impact of scale, governance and plan design

Bikker, Jacob; Dreu, Jan de - de Nederlandsche Bank - 2006

Administrative and investment costs per participant appear to vary widely across pension funds. These costs are important because they reduce the rate of return on the investments of pension funds and consequently raise the cost of retirement security. This paper examines the impact of...

Persistent link: https://www.econbiz.de/10005021847

Is there an optimal pension fund size? A scale-economy analysis of administrative and investment costs

Bikker, Jacob - de Nederlandsche Bank - 2013

This paper investigates scale economies and the optimal scale of pension funds, estimating different cost functions with varying assumptions about the shape of the underlying average cost function: Ushaped versus monotonically declining. Using unique data for Dutch pension funds over 1992-2009,...

Persistent link: https://www.econbiz.de/10010752367

Reinsurers as financial intermediaries in the market for catastrophic risk

Lewis, John - de Nederlandsche Bank - 2010

In a world of perfect markets, primary insurers could hedge catastrophic risks using financial instruments. In practice however, most primary insurers deal with catastrophic risk by the use of a financial intermediary - a reinsurer. This paper uses insights gained from the institutional...

Persistent link: https://www.econbiz.de/10010757590

An Empirical assessment of reinsurance risk

Lelyveld, Iman van; Liedorp, Franka; Kampman, Manuel - de Nederlandsche Bank - 2009

We analyse the effect of failing reinsurance cover on the stability of Dutch insurers. As insurers often reinsure … on reinsurance exposures, we perform a scenario analysis to measure contagion risks. Based on current exposures, we find … no evidence of systemic risk in the Netherlands, even if multiple reinsurance companies fail simultaneously. Next, we …

Persistent link: https://www.econbiz.de/10005101813