A simple formula for non-discriminatory insurance pricing is introduced. This formula is based on the assumption that … certain individual (discriminatory) policyholder information is not allowed to be used for insurance pricing. The suggested …

We develop a theory that connects insurance premiums, insurance companies’ investment behavior, and equilibrium asset … prices. Consistent with the model's key predictions, we show empirically that (1) insurers with more stable insurance funding … take more investment risk and, therefore, earn higher average investment returns; (2) insurance premiums are lower when …