Life insurance premiums display significant rigidity in the data, on average adjusting once every 3 years by more than 10%. This contrasts with the underlying marginal cost which exhibits considerable volatility due to the movements in interest and mortality rates. We build a dynamic model where...

We examine market, interest rate risk, and interdependencies in returns and return volatilities across three insurer segments within a System-GARCH framework. Three main results are obtained: market risk is greatest for accident amp; health (Aamp;H) insurers, followed by life (Life) and property...

We analyze how the life settlement market - the secondary market for life insurance - may affect consumer welfare in a dynamic equilibrium model of life insurance with one-sided commitment and overconfident policyholders. As in Daily et al. (2008) and Fang and Kung (2010), policyholders may...

Serbian Abstract: У раду се анализирају утицаји структуре тржишта (распореда тржишних удела) и броја друштава за осигурање на степен концентрације (и конкуренције) у...

Serbian Abstract: U radu se analizira koncentracija u sektoru osiguranja i uticaj strukture tržišta (rasporeda tržišnih udela) i broja osiguravajućih društava na stepen koncentracije (i konkurencije) u sektoru osiguranja u Srbiji (bez Kosova i Metohije) u desetogodišnjem periodu od 2011....

In this chapter, we review the development of the insurance industry in China. We provide a comprehensive discussion of its regulatory framework, major insurance segments, market structure, InsurTech, social insurance and the prospects for the future development

This study aims to investigate the use of classic strategic management models for the competition analysis of the Greek insurance industry. In this direction, the application of the macro-environment analysis model, the industry life cycle model and the Porter's five forces model is concisely...

Section 1035 of the current U.S. tax code allows policyholders to exchange their variable annuity policy for a similar product while maintaining tax-deferred status. When the variable annuity contains a long-term guarantee, this "lapse-and-reentry" strategy allows the policyholder to potentially...

This paper investigates the cost efficiency and competitive behaviour of the non-life – or property and casualty – insurance market in the Netherlands over the period 1995-2012. We focus on the 2006 health care reform, where public health care insurance has been included in the non-life...