Increasing the Competitiveness of Reinsurance Companies through Corporate Social Responsibility Practices
AbstractThe present paper aims to highlight the role of sustainable solutions for increasing the competitiveness of the reinsurance companies in the current economic and social context. The paper is structured into five parts: an introduction about present role of CSR as a factor promoting the competiti-veness of the responsible companies; a brief presentation of CSR in the insurance sector; an empirical evaluation of the CSR of Munich Re and Swiss Re, the reinsurance leaders; an analysis of the products – mainly, insurance-linked securities – of reinsurance companies for increasing their sustainability involvement, followed by a presentation of the customized products of Munich Re and Swiss for complying with the most recent economic and social needs; conclusions and recommendations. The main conclusion of the study is that incorporating sustainability solutions and CSR practices into day-to-day insurance products could lead to an essential increase in competitiveness for the insurance and reinsurance companies.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): XI (2011)
Issue (Month): 2 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
More information through EDIRC
Corporate Social Responsibility (CSR); Reinsurance Companies; Socially Responsible Investments (SRI); Insurance-Linked Securities (ILS); Catastrophe (CAT) Bonds;
Find related papers by JEL classification:
- M14 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
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