This paper identifies the risk and risk-adjusted return determinants of US insurers. We find that the significant firm-specific determinants for risk and risk-adjusted return vary slightly for the risk proxy and risk-adjusted return proxy used, and the types of insurers. We find that in general,...

Government subsidization of insurance is commonly employed as a policy tool to incentivize risk management activities, complete missing markets, and facilitate redistribution of wealth. Despite the growth of such programs, characterizing their impacts and uptake using readily available...