-ante leverage and insurance decisions are associated with aggregate demand externalities. The competitive equilibrium allocation is … constrained inefficient. Welfare can be improved by ex-ante macroprudential policies such as debt limits and mandatory insurance …

Sustainability, transparency, capital structure of insurance companies, dividend policy, signal theory, risk perception …

influences the equity position and investment strategy of a shareholder-value-maximising insurance company. Intuitively, a higher …

This paper compares the shareholder-value-maximizing capital structure and pricing policy of insurance groups against … instruments. We show that using these instruments enables the group to offer insurance with less default risk and at lower … group building being beneficial for shareholders but detrimental for policyholders. -- Insurance groups ; insurer default …