The current study uses the German Socio Economic Panel to examine how the financial crisis of 2008-2010 impacted individuals' risk attitude. We find substantial changes in risk attitudes associated with the financial crisis which supports countercyclical risk aversion. We find that managers who...

Market risks account for an integral part of life insurers' risk profiles. This paper explores the market risk sensitivities of insurers in two large life insurance markets, namely the U.S. and Europe. Based on panel regression models and daily market data from 2012 to 2018, we analyze the...