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Scale Economies and Performance in the French Insurance Industry

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Author Info

  • F Fecher
  • S Perelman
  • P Pestieau

    (Department of Economics, University of Li�ge)

Abstract

The purpose of this paper is to provide for both life and non life insurance a measurement of economies of scale and an assessment of productive performance of French companies. We use a translog cost function to check the presence of scale economies and a parametric approach to construct our yardstick of productive efficiency. Our panel data covers 84 life and 243 non life companies for the period 1984–89. The main findings indicate both the existence of increasing returns to scale and a wide dispersion in the rates of inefficiency across companies. Those two results are shown to be closely linked to a number of characteristics of the companies studied, particularly their institutional form.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal The Geneva Papers on Risk and Insurance.

Volume (Year): 16 (1991)
Issue (Month): 3 (July)
Pages: 315-326

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Handle: RePEc:pal:gpprii:v:16:y:1991:i:3:p:315-326

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Cited by:
  1. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Finance and Economics Discussion Series 2002-47, Board of Governors of the Federal Reserve System (U.S.).
  2. Amel, Dean & Barnes, Colleen & Panetta, Fabio & Salleo, Carmelo, 2004. "Consolidation and efficiency in the financial sector: A review of the international evidence," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2493-2519, October.
  3. Jaap Bikker & Michiel van Leuvensteijn, 2005. "An Exploration into Competition and Efficiency in the Dutch Life Insurance Industry," DNB Working Papers 047, Netherlands Central Bank, Research Department.
  4. Jacob Bikker, 2012. "Performance of the life insurance industry under pressure: efficiency, competition and consolidation," DNB Working Papers 357, Netherlands Central Bank, Research Department.
  5. J.A. Bikker & J. Gorter, 2008. "Performance of the Dutch non-life insurance industry: competition, efficiency and focus," Working Papers 08-01, Utrecht School of Economics.
  6. Hanweck, Gerald A. & Hogan, Arthur M. B., 1996. "The structure of the property/casualty insurance industry," Journal of Economics and Business, Elsevier, vol. 48(2), pages 141-155, May.
  7. Dean Amel & Colleen Barnes & Fabio Panetta & Carmelo Salleo, 2002. "Consolidation and efficiency in the financial sector: a review of the international evidence," Temi di discussione (Economic working papers) 464, Bank of Italy, Economic Research and International Relations Area.
  8. Michiel Bijlsma & Machiel van Dijk & Marc Pomp & Cora Zonderland, 2005. "Competition in markets for life insurance," CPB Document 96, CPB Netherlands Bureau for Economic Policy Analysis.

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