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Increasing the Competitiveness of Reinsurance Companies through Corporate Social Responsibility Practices

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Author Info

  • Iamandi Irina-Eugenia

    ()
    (Bucharest Academy of Economic Studies, Faculty of International Business and Economics)

  • Constantin Laura-Gabriela

    ()
    (Bucharest Academy of Economic Studies, Faculty of International Business and Economics)

Abstract

The 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 Info

Article 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)
Pages: 598-603

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Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:598-603

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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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Related research

Keywords: Corporate Social Responsibility (CSR); Reinsurance Companies; Socially Responsible Investments (SRI); Insurance-Linked Securities (ILS); Catastrophe (CAT) Bonds;

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