The integration of European services markets and the associated deregulation measures open up formerly segmented markets to competition from the Single Market. The purpose of this study is to propose a method of measuring the effects of liberalization on technical efficiency, the existence of...

The financial and the insurance markets are increasingly penetrating each other, accounting for the fact that insurers are more and more often seen as major institutional investors of capital markets. The capital market offers a range of new opportunities, although it is not devoid of faults,...

We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from diversification within large banks and financial...

In this paper, we develop an analytical framework for conducting forward-looking assessments of profitability and 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...

Our study analyses the extent of integration of the EU market for life and non-life insurance. The main integration indicator used is the market share (premium based) of foreign companies in domestic markets. For the calculation of this indicator, three different kinds of foreign presence are...

The Single Market project of the European Commission was supposed to foster productivity growth in the financial service industry. We assess its consequences on productivity development in the German insurance industry, one of the largest insurance markets within the European Union, by applying...

This paper uses high frequency market value data on credit default swap spreads and intra-day stock prices to measure systemic risk in the insurance sector. Using the systemic risk measure, we examine the inter-connectedness between banks and insurers with Granger causality tests. Based on...

The paper examines the dynamics of insurance companies quantity in Ukraine, Russia and CEA member states for the period of 2001-2008 as well as the tendency of national insurance market changes. Moreover, it analyzes the largest foreign groups represented in equity of the Ukrainian insurance...

In this paper, we develop an analytical framework for conducting forward-looking assessments of profitability and 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...