Refine Search

New Search

Results: 24

(searched for: doi:10.1023/a:1014366800354)
Save to Scifeed
Page of 1
Articles per Page
by
Show export options
  Select all
Chia‐Chun Chiang
Journal of Risk and Insurance, Volume 87, pp 627-664; https://doi.org/10.1111/jori.12286

The publisher has not yet granted permission to display this abstract.
Mike Adams, ,
Published: 31 December 2018
The European Journal of Finance, Volume 25, pp 1012-1031; https://doi.org/10.1080/1351847x.2019.1578676

Abstract:
Drawing on a framework from the organizational economics literature, we utilize a panel data design to examine empirically the effect of motor insurance and liability insurance business on the overall underwriting performance of insurers operating in the United Kingdom’s (UK) property–casualty insurance market. We find that participation in liability insurance contributes positively to underwriting performance, whereas motor insurance is associated with inferior underwriting performance. Additionally, we find that higher reinsurance ratio is associated with better underwriting performance, but reduced profit margins. Our results show that higher leverage too is associated with better underwriting performance. We conclude that our results could have potentially important commercial and/or policy implications.
Published: 5 November 2013
Journal of Risk and Insurance, Volume 82, pp 173-204; https://doi.org/10.1111/j.1539-6975.2013.12018.x

The publisher has not yet granted permission to display this abstract.
Stephen G. Fier, Kathleen A. McCullough, James M. Carson
Published: 1 March 2013
Journal of Banking & Finance, Volume 37, pp 1029-1039; https://doi.org/10.1016/j.jbankfin.2012.11.003

Yu-Luen Ma, Nat Pope, Raymond Yeung
The Geneva Papers on Risk and Insurance - Issues and Practice, Volume 38, pp 43-61; https://doi.org/10.1057/gpp.2012.20

Abstract:
This research examines the relationship shared by a national insurance market's competitive structure and insurer profitability. For these purposes, a market's competitive structure is defined by the level of foreign presence and market concentration. The analysis focuses on the four major non-life insurance markets of Asia: Japan, the People's Republic of China, South Korea and Taiwan. The analysis tests hypotheses derived from the broad body of theory generally referred to as the structure-conduct-performance (SCP) hypothesis. The methodological approach makes a significant improvement over previous related work in that it also includes insurer-level data in additional to market-level control variables. In doing so, this research holds out the potential for consideration in the development of insurer-specific strategies in light of a potential influx of foreign competitors. The key findings of this research include general support for the expectations of the SCP hypothesis that predicts dominant firms in concentrated markets will drive up product price and generate associated higher levels of profit.
Stephen P D'arcy,
The Geneva Papers on Risk and Insurance - Issues and Practice, Volume 37, pp 509-538; https://doi.org/10.1057/gpp.2012.25

Abstract:
Traditional finance studies have found that firm value is maximised at a mid-range level of leverage. This paper empirically tests the effect of leverage on firm value for property-liability insurers. We analysed an international data set of 96 insurers from 1992 to 2006 using two measures for firm value (price-to-earnings and market-to-book) and three measures of leverage (liabilities-to-equity, premiums-to-equity and surplus duration). We found that price-to-earnings at first increases with leverage, as measured by liabilities-to-equity and premiums-to-equity, but decreases past a certain point. Market-to-book exhibited a similar pattern for the premium-to-equity ratio but had a positive relationship with liabilities-to-equity and a negative relationship with surplus duration.
J. David Cummins
Published: 3 January 2012
SSRN Electronic Journal; https://doi.org/10.2139/ssrn.1997467

The publisher has not yet granted permission to display this abstract.
Stephen G. Fier, Kathleen A. McCullough, James M. Carson
Published: 1 January 2011
SSRN Electronic Journal; https://doi.org/10.2139/ssrn.1850488

The publisher has not yet granted permission to display this abstract.
Review of Quantitative Finance and Accounting, Volume 38, pp 25-46; https://doi.org/10.1007/s11156-010-0217-9

Abstract:
Underwriting and investment are two important and related business activities of insurance companies. However, studies on the interrelation between underwriting and investment risks of Property-Liability (P-L) insurance companies are sparse in the literature. Using a sample of US P-L insurers, this article conducts an empirical investigation of how these two risks are associated with each other in the 1994–2000 period (before the September 11th terrorist attack in 2001). Our results, robust to various estimations, suggest that there is no significant relationship between the underwriting and investment risks among our sample firms. Such results based on pre 9–11 event period provide some support for the conjecture of Achleitner et al. (Geneva Pap Risk Insur Issues Pract 27:275–282, 2002) that many insurance companies may have failed to take an integrated approach to risk management. This resulted in a heavy loss due to dual exposures in both underwriting and investment in the 9–11 event. In the aftermath of the recent global financial crisis, risk taking and risk management of financial institutions have received more attention and increasing scrutiny. We believe the current paper provides some useful insights in this vein.
Yuling Wang, James M. Carson
Published: 14 February 2010
SSRN Electronic Journal; https://doi.org/10.2139/ssrn.1558456

The publisher has not yet granted permission to display this abstract.
The Geneva Papers on Risk and Insurance - Issues and Practice, Volume 33, pp 418-439; https://doi.org/10.1057/gpp.2008.20

The publisher has not yet granted permission to display this abstract.
Martin Eling, Hato Schmeiser, Joan T. Schmit
Risk Management and Insurance Review, Volume 10, pp 69-85; https://doi.org/10.1111/j.1540-6296.2007.00106.x

The publisher has not yet granted permission to display this abstract.
Published: 1 September 2006
Journal of Risk and Insurance, Volume 73, pp 359-396; https://doi.org/10.1111/j.1539-6975.2006.00180.x

The publisher has not yet granted permission to display this abstract.
Page of 1
Articles per Page
by
Show export options
  Select all
Back to Top Top