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Financing constraints and risk management : evidence from micro-level insurance data
Bustos, Emil; Engist, Oliver; Martinsson, Gustav; … - 2022
unique information on firm level commercial insurance purchases, we find that financing constraints lead to higher insurance … spending. We adopt a regression discontinuity design and show that financially constrained firms spend 5-14% more on insurance …
Persistent link: https://www.econbiz.de/10013490619
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Determinants of financial performance of insurance companies : empirical evidence using Kenyan data
Morara, Kamanda; Sibindi, Athenia Bongani - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-13
The drivers of financial success of the insurance industry are of interest to several players in any economy including …; most of which look at narrow elements that determine insurance companies’ performance. This article sought to explore the … components contributing to the financial performance of insurance firms. We employed a sample consisting of 37 general insurers …
Persistent link: https://www.econbiz.de/10012798319
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Analysing the determinants of credit risk for General Insurance firms in the UK
Caporale, Guglielmo Maria; Cerrato, Mario; Zhang, Xuan - 2016
insurance firms. The implications of these findings for regulators of GI firms under the coming Solvency II are discussed. …This paper estimates a reduced-form model to assess the credit risk of General Insurance (GI) non-life firms in the UK …
Persistent link: https://www.econbiz.de/10011497884
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A pandemic business interruption insurance
Louaas, Alexis; Picard, Pierre - 2020
We analyze how pandemic business interruption coverage can be put in place by building on capitalization mechanisms. The pandemic risk cannot be mutualized since it affects simultaneously a large number of businesses, and furthermore, it has a systemic nature because it goes along with a severe...
Persistent link: https://www.econbiz.de/10012387545
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Market or clan : a comparative study of risk sharing institutional evolution in China and Europe
Zhu, Wenge - In: International studies of economics 19 (2024) 2, pp. 293-327
-sharing institutional evolution. Particularly, through a comparative study of marine insurance development in China and Europe, we address a …
Persistent link: https://www.econbiz.de/10015063916
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Asset-liability management with ultra-low interest rates
Grossman, Richard S.; Molyneux, Philip; Lambert, Frederic; … - Conference on Asset-Liability Management with Ultra-Low …; … - 2015
On 11 March 2015, SUERF jointly organised a conference with the Oesterreichische Nationalbank and the Austrian Society for Bank Research (Bankwissenschaftliche Gesellschaft - BWG). The present SUERF Study 2015/2 includes a selection of papers based on the authors' contributions to the Vienna...
Persistent link: https://www.econbiz.de/10011413495
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Investment Commonality across Insurance Companies : Fire Sale Risk and Corporate Yield Spreads
Nanda, Vikram K. - 2018
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 …
Persistent link: https://www.econbiz.de/10012936328
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Rethinking the Use of Credit Ratings in Capital Regulations : Evidence from the Insurance Industry
Hanley, Kathleen Weiss - 2020
We analyze an initiative by insurance regulators to reform capital regulations for mortgage-backed securities (MBS) by …
Persistent link: https://www.econbiz.de/10012856865
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Investment activities of Polish insurance companies before and after Solvency II
Szaniewski, Daniel - In: Foundations of Management : the journal of Warsaw … 13 (2021) 1, pp. 229-242
Insurance companies operate in a turbulent, constantly changing environment. The insurance market plays an important … conducting insurance activities - including new legal regulations - and has to counter global challenges, such as the crisis …. The article indicates the legal basis of the restrictions applicable to insurance companies in relation to their …
Persistent link: https://www.econbiz.de/10012805592
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Investment commonality across insurance companies : fire sale risk and corporate yield spreads
Nanda, Vikram; Wu, Wei; Zhou, Xing - 2017
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 …
Persistent link: https://www.econbiz.de/10011710064