type="main" xml:lang="en" <title type="main">Abstract</title> <p>The financial crisis and subsequent recession generated sizable operating losses for life insurance companies, yet the consequences were far less significant than for other financial intermediaries. The ability to quickly generate new capital through external...</p>

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...