In this paper, we examine liquidation strategies and asset allocation decisions for property and casualty insurance companies for different insurance product lines. We propose a cash-flow based liquidation model of an insurance company and analyze selling strategies for a portfolio with liquid...

As financial markets become more global, the question arises whether any country specific considerations are still relevant for insurance companies' capital structure. This research examines this questions with firm-level data across a broad range of countries including those in developing...

Enterprise Risk Management (ERM) is the approach of managing all risks faced by a firm in an integrated, holistic fashion. This research analyzes factors that influence a firm's decision to start an ERM program. We argue that top management's decision to adopt ERM is influenced by managerial...