the insurance sector. The downside risk of insurers is explicitly modelled by common and idiosyncratic risk factors. Since … results point to a relatively low insurance sector wide risk. Dependence among insurers is higher than among reinsurers. …

This paper explores the economic issues related to systemically important insurance companies, using an example from … the Great Depression, the National Surety Company. National Surety was a large and diverse insurance company that … policyholders staged a massive run on the company, demanding the return of their unearned premiums. The New York State Insurance …

hedge funds, banks, brokers, and insurance companies based on principal components analysis and Granger-causality tests. We … the finance and insurance industries. These measures can also identify and quantify financial crisis periods, and seem to …, banks, insurance companies, and brokers …

This paper examines the potential for the U.S. insurance industry to cause systemic risk events that spill over to … detailed financial analysis of the insurance industry, its role in the economy, and the interconnectedness of insurers. The … the potential to cause systemic risk, and most global insurance organizations have exposure to derivatives markets. To …

in the demise of AIG in relationship to systemic risks in insurance. The main contribution of this report is the … (AIGFP). The study shows that if it were not for the “non-insurance” activities of the AIGFP under the AIG Holding Company … not an insurance company; AIGFP was not regulated by insurance regulations; AIGFP's credit default swaps were the key …

work. Recently, more emphasis has also been placed on the role of insurance for financial stability analysis. This paper … reviews the current state of system-wide solvency stress tests for insurance based on a comparative review of national … consistent implementation of such exercises. The paper also offers recommendations on improving the current insurance stress …