This paper investigates systemic risk in the insurance industry. We first analyze the systemic contribution of the … insurance industry vis-à-vis other industries by applying 3 measures, namely the linear Granger causality test, conditional … Europe over the last 14 years. We then analyze the determinants of the systemic risk contribution within the insurance …

solvency of the main euro area insurance sectors. We model the balance sheet of an insurance company encompassing both life and … non-life business and we calibrate it using country level data to make it representative of the major euro area insurance … a sustained period of low interest rates particularly in those markets which are largely exposed to reinvestment risks …

solvency of the main euro area insurance sectors. We model the balance sheet of an insurance company encompassing both life and … non-life business and we calibrate it using country level data to make it representative of the major euro area insurance … a sustained period of low interest rates particularly in those markets which are largely exposed to reinvestment risks …

in the banking industry. Especially life insurance companies could serve as CoCo bond holders as they are already the … insurance and study the effects of various types of bonds such as non-convertible bonds, write-down bonds and CoCos on banks … standard model as well as under an internal model that ex-ante anticipates additional risks due to possible conversion of the …

the bank and insurance sector by changing the funding patterns of banks as well as the investment strategies of life … insurance companies. Especially for life insurance companies, the current low interest rate environment poses a key risk since … declining returns on investments jeopardize the guaranteed return on life insurance contracts, a core component of traditional …

policy intervention on the insurance industry. We first analyze the impact on the stock performances of 166 (re)insurers from …