risk. This paper focuses on the transmission of sovereign risk to insurance companies as some of the largest institutional … investors in the sovereign bond market. We use a firm level panel dataset that covers large insurance companies, banks and non … reflected in current insurance regulation (incl. upcoming Solvency II in Europe). …

We develop a model in which investment risk drives the demand for CDS insurance. The model shows the efficiency of CDS … contracting over the state of the economy. It shows that CDS overinsurance (insurance in excess of renegotiation surpluses) is …

correlation in their assets (health, wealth, wisdom, i.e. skills), causing them to demand a great deal of insurance coverage …. Insurers on the other hand eschew positively correlated risks. It can be shown that insurance contributes to a reduction of … insurance. Analyzing deviations from trend in aggregate insurance payments, one finds the following for the United States and …

We conduct a comprehensive asset pricing analysis for the U.S. property/liability insurance industry using monthly data … the returns of property/liability insurance stocks in a satisfactory way. We adapt the model proposed by Adrian, Friedman …, and Muir (2015) for financial institutions and define an insurance-specific five-factor asset pricing model (INS5), which …

assesses the relevance of these conflicting incentives for Dutch pension funds and insurance firms over the period 1995 … insurers, indicating that risk management incentives dominate in the Dutch insurance industry. Risk shifting incentives …

assesses the relevance of these conflicting incentives for Dutch pension funds and insurance firms over the period 1995 … insurers, indicating that risk management incentives dominate in the Dutch insurance industry. Risk shifting incentives …

We present a model for P/L insurance companies based on Asset-Liability-Management (ALM). We show analytically for …

requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on … insurance industry. These requirements have influenced the asset allocation issue in insurance industry. This section is …

Insurance companies often follow highly correlated investment strategies. As major investors in corporate bonds, their … following a rating downgrade. Reflective of fire-sale risk, clustering of insurance companies in a bond has significant … bond yield spreads is more evident for bonds held to a greater extent by capital-constrained insurance companies, those …