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Mary Weiss

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. J. David Cummins & Mary A. Weiss, 2013. "Systemic Risk and Regulation of the U.S. Insurance Industry," NFI Policy Briefs 2013-PB-02, Indiana State University, Scott College of Business, Networks Financial Institute.

    Cited by:

    1. Chang, Carolyn W. & Li, Xiaodan & Lin, Edward M.H. & Yu, Min-Teh, 2018. "Systemic risk, interconnectedness, and non-core activities in Taiwan insurance industry," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 273-284.
    2. Bierth, Christopher & Irresberger, Felix & Weiß, Gregor N.F., 2015. "Systemic risk of insurers around the globe," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 232-245.
    3. Thomas F. Coleman & Alex LaPlante & Alexey Rubtsov, 2018. "Analysis of the SRISK measure and its application to the Canadian banking and insurance industries," Annals of Finance, Springer, vol. 14(4), pages 547-570, November.
    4. Mathias Mandla Manguzvane & John Weirstrass Muteba Mwamba, 2020. "GAS Copula models on who’s systemically important in South Africa: Banks or Insurers?," Empirical Economics, Springer, vol. 59(4), pages 1573-1604, October.
    5. Michelle L. Barnes, 2016. "Did life insurers benefit from TARP or regulatory forbearance during the financial crisis of 2008–2009?," Working Papers 16-24, Federal Reserve Bank of Boston.
    6. Clemente, Gian Paolo & Cornaro, Alessandra, 2022. "A multilayer approach for systemic risk in the insurance sector," Chaos, Solitons & Fractals, Elsevier, vol. 162(C).
    7. Anna Denkowska & Stanisław Wanat, 2020. "A Tail Dependence-Based MST and Their Topological Indicators in Modeling Systemic Risk in the European Insurance Sector," Risks, MDPI, vol. 8(2), pages 1-22, April.
    8. Bernal, Oscar & Gnabo, Jean-Yves & Guilmin, Grégory, 2014. "Assessing the contribution of banks, insurance and other financial services to systemic risk," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 270-287.

  2. Jiang Cheng & Mary A. Weiss, 2011. "The Regulatory Effect of Risk-Based Capital in Property-Liability Insurance," NFI Working Papers 2011-WP-20, Indiana State University, Scott College of Business, Networks Financial Institute.

    Cited by:

    1. Tatom, John, 2011. "A report to the Federal Insurance Office," MPRA Paper 34621, University Library of Munich, Germany.

  3. Jiang Cheng & Mary A. Weiss, 2011. "The Role of RBC, Hurricane Exposure, Bond Portfolio Duration, and Macroeconomic and Industry-wide Factors in Property-Liability Insolvency Prediction," NFI Working Papers 2011-WP-17, Indiana State University, Scott College of Business, Networks Financial Institute.

    Cited by:

    1. Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2023. "Contingent factors of the coinsurance function of internal capital markets: Evidence from the US nonlife insurance industry," The North American Journal of Economics and Finance, Elsevier, vol. 66(C).
    2. Eling, Martin & Jia, Ruo, 2018. "Business failure, efficiency, and volatility: Evidence from the European insurance industry," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 58-76.
    3. Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2021. "Group firms’ access to internal capital markets: The contingent roles of group resources and affiliates’ financial weakness," Economic Modelling, Elsevier, vol. 96(C), pages 135-156.
    4. Ben Ammar, Semir & Braun, Alexander & Eling, Martin, 2015. "Alternative Risk Transfer and Insurance-Linked Securities: Trends, Challenges and New Market Opportunities," I.VW HSG Schriftenreihe, University of St.Gallen, Institute of Insurance Economics (I.VW-HSG), volume 56, number 56.
    5. Olivier de Bandt & George Overton, 2022. "Why do insurers fail? A comparison of life and nonlife insurance companies from an international database," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(4), pages 871-905, December.
    6. Al-Amri, Khalid & David Cummins, J. & Weiss, Mary A., 2021. "Economies of scope, organizational form, and insolvency risk: Evidence from the takaful industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    7. Anggy Renaldo & Unggul Purwohedi & Gatot Nazir Ahmad, 2021. "Determinants of the Risk-Based Capital of Insurance Companies in Indonesia," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 72-77, September.
    8. Eling, Martin & Jia, Ruo & Schaper, Philipp, 2017. "Get the Balance Right: A Simultaneous Equation Model to Analyze Growth, Profitability, and Safety," Working Papers on Finance 1716, University of St. Gallen, School of Finance.
    9. Christian Biener & Martin Eling, 2013. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2012 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(2), pages 219-231, September.
    10. Ignacio Moreno & Purificación Parrado‐Martínez & Antonio Trujillo‐Ponce, 2020. "Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 2965-2994, September.
    11. Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2023. "Risk-sharing function in internal capital markets: Evidence from intragroup reinsurance activities," International Review of Financial Analysis, Elsevier, vol. 87(C).
    12. Abdul Latif Alhassan & Nicholas Biekpe, 2018. "Competition and Risk-Taking Behaviour in the Non-Life Insurance Market in South Africa," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(3), pages 492-519, July.

  4. Cummins, J. David & Weiss, Mary A., 2010. "Systemic Risk and the U.S. Insurance Sector," Working Papers 11-07, University of Pennsylvania, Wharton School, Weiss Center.

    Cited by:

    1. Chang, Carolyn W. & Li, Xiaodan & Lin, Edward M.H. & Yu, Min-Teh, 2018. "Systemic risk, interconnectedness, and non-core activities in Taiwan insurance industry," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 273-284.
    2. Tang, Qihe & Tong, Zhiwei & Xun, Li, 2022. "Insurance risk analysis of financial networks vulnerable to a shock," European Journal of Operational Research, Elsevier, vol. 301(2), pages 756-771.
    3. Philippe Deprez & Mario V. Wüthrich, 2016. "Macroprudential Insurance Regulation: A Swiss Case Study," Risks, MDPI, vol. 4(4), pages 1-30, December.
    4. Peter Martey Addo, 2015. "Coupling direction of the European Banking and Insurance sectors using inter-system recurrence networks," Post-Print halshs-01169516, HAL.
    5. G. Hauton & J.-C. Héam, 2014. "How to Measure Interconnectedness between Banks, Insurers and Financial Conglomerates?," Débats économiques et financiers 15, Banque de France.
    6. Bierth, Christopher & Irresberger, Felix & Weiß, Gregor N.F., 2015. "Systemic risk of insurers around the globe," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 232-245.
    7. Girardi, Giulio & Hanley, Kathleen W. & Nikolova, Stanislava & Pelizzon, Loriana & Sherman, Mila Getmansky, 2021. "Portfolio similarity and asset liquidation in the insurance industry," Journal of Financial Economics, Elsevier, vol. 142(1), pages 69-96.
    8. Farmer, J. Doyne & Heinrich, Torsten & Sabuco, Juan, 2019. "A simulation of the insurance industry: The problem of risk model homogeneity," INET Oxford Working Papers 2019-12, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    9. Kubitza, Christian & Regele, Fabian, 2017. "Persistence of insurance activities and financial stability," ICIR Working Paper Series 30/17, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    10. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    11. Anna Paulson & Richard Rosen, 2016. "The Life Insurance Industry and Systemic Risk: A Bond Market Perspective," Annual Review of Financial Economics, Annual Reviews, vol. 8(1), pages 155-174, October.
    12. Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Consolidation and systemic risk in the international insurance industry," Journal of Financial Stability, Elsevier, vol. 18(C), pages 187-202.
    13. Liu Yang & Qing Zhou & Min Zhu, 2021. "De‐risking through equity holdings: Bank and insurer behavior under capital requirements," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(9-10), pages 1889-1917, October.
    14. María Rodríguez-Moreno & Sergio Mayordomo & Juan Ignacio Peña, 2012. "Derivatives Holdings and Systemic Risk in the U.S. Banking Sector," Faculty Working Papers 21/12, School of Economics and Business Administration, University of Navarra.
    15. Ben Ammar, Semir & Eling, Martin & Milidonis, Andreas, 2018. "The cross-section of expected stock returns in the property/liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 292-321.
    16. Bostandzic, Denefa & Weiß, Gregor N.F., 2018. "Why do some banks contribute more to global systemic risk?," Journal of Financial Intermediation, Elsevier, vol. 35(PA), pages 17-40.
    17. Fabiana Gómez & Jorge Ponce, 2018. "Systemic risk and insurance regulation," Documentos de trabajo 2018003, Banco Central del Uruguay.
    18. Marion Dupire & Christian Haddad & Regine Slagmulder, 2022. "The Importance of Board Risk Oversight in Times of Crisis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(3), pages 319-365, June.
    19. Irresberger, Felix & Bierth, Christopher & Weiß, Gregor N.F., 2017. "Size is everything: Explaining SIFI designations," Review of Financial Economics, Elsevier, vol. 32(C), pages 7-19.
    20. Ghulam, Yaseen & Doering, Jana, 2018. "Spillover effects among financial institutions within Germany and the United Kingdom," Research in International Business and Finance, Elsevier, vol. 44(C), pages 49-63.
    21. Peter Martey Addo, 2015. "Coupling direction of the European Banking and Insurance sectors using inter-system recurrence networks," Documents de travail du Centre d'Economie de la Sorbonne 15051, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    22. Ellis, Scott & Sharma, Satish & Brzeszczyński, Janusz, 2022. "Systemic risk measures and regulatory challenges," Journal of Financial Stability, Elsevier, vol. 61(C).
    23. Hauton Gaël & Héam Jean-Cyprien, 2016. "How to measure interconnectedness between banks, insurers and financial conglomerates," Statistics & Risk Modeling, De Gruyter, vol. 33(3-4), pages 95-116, December.
    24. Bijlsma, Melle & Vermeulen, Robert, 2016. "Insurance companies’ trading behaviour during the European sovereign debt crisis: Flight home or flight to quality?," Journal of Financial Stability, Elsevier, vol. 27(C), pages 137-154.
    25. Dungey, Mardi & Harvey, John & Volkov, Vladimir, 2017. "The changing international network of sovereign debt and financial institutions," Working Papers 2017-04, University of Tasmania, Tasmanian School of Business and Economics.
    26. Diallo, Boubacar & Al-Mansour, Abdullah, 2017. "Shadow banking, insurance and financial sector stability," Research in International Business and Finance, Elsevier, vol. 42(C), pages 224-232.
    27. Elia Berdin & Matteo Sottocornola, 2015. "Assessing Systemic Risk of the European Insurance Industry," EIOPA Financial Stability Report - Thematic Articles 6, EIOPA, Risks and Financial Stability Department.
    28. Garcia-Jorcano, Laura & Sanchis-Marco, Lidia, 2021. "Systemic-systematic risk in financial system: A dynamic ranking based on expectiles," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 330-365.
    29. Berdin, Elia & Sottocornola, Matteo, 2015. "Insurance activities and systemic risk," SAFE Working Paper Series 121, Leibniz Institute for Financial Research SAFE.
    30. Chen-Ying Lee, 2020. "The Impact of Product Diversification on Risk-taking Behavior in Property and Liability Insurance Firms," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(3), pages 1-9.
    31. Alberto Dreassi & Stefano Miani & Andrea Paltrinieri & Alex Sclip, 2018. "Bank-Insurance Risk Spillovers: Evidence from Europe," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(1), pages 72-96, January.
    32. Biener, Christian & Eling, Martin & Jia, Ruo, 2017. "The structure of the global reinsurance market: An analysis of efficiency, scale, and scope," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 213-229.
    33. Martin Eling & Ruo Jia, 2017. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2014 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 20(1), pages 63-77, March.
    34. Guochen Pan & Jingyan Guo & Qiaoling Jing, 2016. "The Relationship between Insurance Industry and Banking Sector in China: Asymmetric Granger Causality Test," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 114-127, June.
    35. Office of Financial Research (ed.), 2016. "2016 Financial Stability Report," Reports, Office of Financial Research, US Department of the Treasury, number 16-3.
    36. Kubitza, Christian & Gründl, Helmut, 2016. "Systemic risk: Time-lags and persistence," ICIR Working Paper Series 20/16, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    37. Anna Denkowska & Stanisław Wanat, 2020. "A Tail Dependence-Based MST and Their Topological Indicators in Modeling Systemic Risk in the European Insurance Sector," Risks, MDPI, vol. 8(2), pages 1-22, April.
    38. Berdin, Elia & Sottocornolay, Matteo, 2015. "Insurance activities and systemic risk," ICIR Working Paper Series 19/15, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    39. Ralph S.J. Koijen & Motohiro Yogo, 2017. "Risk of Life Insurers: Recent Trends and Transmission Mechanisms," NBER Working Papers 23365, National Bureau of Economic Research, Inc.
    40. Anna Denkowska & Stanis{l}aw Wanat, 2019. "Linkages and systemic risk in the European insurance sector: Some new evidence based on dynamic spanning trees," Papers 1908.01142, arXiv.org, revised Aug 2019.
    41. Kasinger, Johannes & Pelizzon, Loriana, 2018. "Financial stability in the EU: A case for micro data transparency," SAFE Policy Letters 67, Leibniz Institute for Financial Research SAFE.
    42. Eckert, Christian & Gatzert, Nadine & Heidinger, Dinah, 2020. "Empirically assessing and modeling spillover effects from operational risk events in the insurance industry," Insurance: Mathematics and Economics, Elsevier, vol. 93(C), pages 72-83.
    43. Yong Li & Ziyi Zhang & Tong Niu, 2022. "Two-Way Risk Spillover of Financial and Real Sectors in the Presence of Major Public Emergencies," Sustainability, MDPI, vol. 14(19), pages 1-20, October.
    44. Zulu, Thulani & Manguzvane, Mathias Mandla & Bonga-Bonga, Lumengo, 2023. "Assessing the contribution of South African Insurance Firms to Systemic Risk," MPRA Paper 116815, University Library of Munich, Germany.
    45. Cao, Jianhong & Law, Siong Hook & Samad, Abdul Rahim Abdul & Mohamad, Wan Norhidayah W., 2023. "Internal mechanism analysis of the financial vanishing effect on green growth: Evidence from China," Energy Economics, Elsevier, vol. 120(C).
    46. Fabiana Gómez & Jorge Ponce, 2018. "Systemic Risk and Insurance Regulation †," Risks, MDPI, vol. 6(3), pages 1-12, July.
    47. Chen, Pei-Fen & Lin, Chun-Wei & Lee, Chien-Chiang, 2019. "Financial crises, globalization, and insurer performance: Some international evidence," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 835-856.

  5. Allen N. Berger & J. David Cummins & Mary A. Weiss & Hongmin Zi, 2000. "Conglomeration Versus Strategic Focus: Evidence from the Insurance Industry," Center for Financial Institutions Working Papers 99-29, Wharton School Center for Financial Institutions, University of Pennsylvania.

    Cited by:

    1. Dionne, Georges & Desjardins, Denise, 2022. "A re-examination of the U.S. insurance market’s capacity to pay catastrophe losses," Working Papers 22-2, HEC Montreal, Canada Research Chair in Risk Management.
    2. Berger, Allen N. & Hasan, Iftekhar & Zhou, Mingming, 2009. "The effects of focus versus diversification on bank performance: Evidence from Chinese banks," CEI Working Paper Series 2009-09, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    3. Walid Bahloul & Abdelfettah Bouri, 2016. "The Efficiency of the European Non-Life Insurance: CEO Power, Macroeconomic, and Market Characteristics Impact," IJFS, MDPI, vol. 4(1), pages 1-13, March.
    4. Ivan Pavic & Maja Pervan, 2010. "Effects Of Corporate Diversification On Its Performance: The Case Of Croatian Non-Life Insurance Industry," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 19(1), pages 49-66, june.
    5. Gaganis, Chrysovalantis & Pasiouras, Fotios, 2013. "Financial supervision regimes and bank efficiency: International evidence," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5463-5475.
    6. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    7. Wise William, 2020. "The Importance of the Efficiency of Mutual Life Insurers: A Comparison to Stock Life Insurers," Folia Oeconomica Stetinensia, Sciendo, vol. 20(1), pages 474-505, June.
    8. Dimitras, Augustinos I. & Gaganis, Chrysovalantis & Pasiouras, Fotios, 2018. "Financial reporting standards' change and the efficiency measures of EU banks," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 223-233.
    9. Chakraborty Kalyan & Dutta Anirban & Sengupta Partha Pratim, 2012. "Efficiency and Productivity of Indian Life Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 7(1), pages 1-28, December.
    10. Basri Savitha & Subrato Banerjee & Ankitha Shetty, 2019. "Product diversification versus technical efficiency of conglomerate life microinsurance companies: evidence from India," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(3), pages 527-547, July.
    11. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    12. Malikov, Emir & Hartarska, Valentina, 2018. "Endogenous Scope Economies in Microfinance Institutions," MPRA Paper 87450, University Library of Munich, Germany.
    13. Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Consolidation and systemic risk in the international insurance industry," Journal of Financial Stability, Elsevier, vol. 18(C), pages 187-202.
    14. Baharin, Roziana & isa, zaidi, 2018. "Box Cox- Fourier Flexible Functional Forms in Stochastic Metafrontier Analysis: The Cost Efficiency of the Insurance Industry in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 135-144.
    15. J.A. Bikker, 2012. "Performance of the life insurance industry under pressure: efficiency, competition and consolidation," Working Papers 12-19, Utrecht School of Economics.
    16. Shoaib Alam Siddiqui, 2022. "How efficient is Indian health insurance sector: An SBM‐DEA study," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(4), pages 950-962, June.
    17. B. Elango & Yu‐Luen Ma & Nat Pope, 2008. "An Investigation Into the Diversification–Performance Relationship in the U.S. Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(3), pages 567-591, September.
    18. Shim Jeungbo, 2017. "Does Diversification Drive Down Risk-adjusted Returns? A Quantile Regression Approach," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 11(2), pages 1-32, July.
    19. Biener, Christian & Eling, Martin & Wirfs, Jan Hendrik, 2016. "The determinants of efficiency and productivity in the Swiss insurance industry," European Journal of Operational Research, Elsevier, vol. 248(2), pages 703-714.
    20. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    21. Michael K. McShane & Larry A. Cox, 2009. "Issuance Decisions and Strategic Focus: The Case of Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(1), pages 87-108, March.
    22. Thomas R. Berry‐Stölzle & Muhammed Altuntas, 2010. "Feature Article: A Resource‐Based Perspective on Business Strategies of Newly Founded Subsidiaries: The Case of German Pensionsfonds," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(2), pages 173-193, September.
    23. Martin F. Grace & J. Tyler Leverty, 2010. "Political Cost Incentives for Managing the Property‐Liability Insurer Loss Reserve," Journal of Accounting Research, Wiley Blackwell, vol. 48(1), pages 21-49, March.
    24. Patricia Born & Amanda Cook & Tice Sirmans & Charles Yang, 2023. "Are health insurers in multiple lines of business less profitable? An examination of scope economies in health insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 90(1), pages 185-212, March.
    25. Berger, Allen N., 2003. "The efficiency effects of a single market for financial services in Europe," European Journal of Operational Research, Elsevier, vol. 150(3), pages 466-481, November.
    26. Jin Lung Peng & Lih Ru Chen & Jennifer L. Wang & Larry Y. Tzeng, 2017. "Diversification Versus Strategic Focus: Evidence from Insurance Intermediaries in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(3), pages 530-555, July.
    27. Muhammed Altuntas & Gerrit Gößmann, 2016. "The Relationship Between Home Market Performance and Internationalization Decisions: Evidence From German Insurance Groups," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 19(1), pages 37-71, March.
    28. Boudhayan Sen & Jiwoong Shin & K. Sudhir, 2012. "Demand Externalities from Co-Location," Cowles Foundation Discussion Papers 1850, Cowles Foundation for Research in Economics, Yale University.
    29. Allen N. Berger, 2000. "The integration of the financial services industry: where are the efficiencies?," Finance and Economics Discussion Series 2000-36, Board of Governors of the Federal Reserve System (U.S.).
    30. Narjess Boubakri & Georges Dionne & Thouraya Triki, 2006. "Consolidation and Value Creation in the Insurance Industry: the Role of Governance," Cahiers de recherche 0626, CIRPEE.
    31. Patty Duijm & Ilke Van Beveren, 2022. "Product diversification as a performance boosting strategy? Drivers and impact of diversification strategies in the property‐liability insurance industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(3), pages 303-328, September.
    32. Dionne, Georges & Gagné, Robert & Nouira, Abdelhakim, 2007. "Determinants of insurers’ performance in risk pooling, risk management, and financial intermediation activities," Working Papers 07-4, HEC Montreal, Canada Research Chair in Risk Management.
    33. Che, Xin & Liebenberg, Andre P., 2017. "Effects of business diversification on asset risk-taking: Evidence from the U.S. property-liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 122-136.
    34. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    35. Willie Dion Reddic, 2021. "Under pressure: investment behaviour of insurers under different financial and regulatory conditions," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 1-20, January.
    36. Muhammed Altuntas & Thomas R. Berry-Stölzle & J. David Cummins, 2021. "Enterprise risk management and economies of scale and scope: evidence from the German insurance industry," Annals of Operations Research, Springer, vol. 299(1), pages 811-845, April.
    37. Karbhari, Yusuf & Muye, Ibrahim & Hassan, Ahmad Fahmi S. & Elnahass, Marwa, 2018. "Governance mechanisms and efficiency: Evidence from an alternative insurance (Takaful) market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 56(C), pages 71-92.
    38. Chrysovalantis Gaganis & Iftekhar Hasan & Fotios Pasiouras, 2013. "Efficiency and stock returns: evidence from the insurance industry," Journal of Productivity Analysis, Springer, vol. 40(3), pages 429-442, December.
    39. Huang, Wei & Eling, Martin, 2013. "An efficiency comparison of the non-life insurance industry in the BRIC countries," European Journal of Operational Research, Elsevier, vol. 226(3), pages 577-591.
    40. Hartarska, Valentina M. & Zhang, Jingfang & Nadolnyak, Denis A., 2023. "Scope Economies from Rural and Urban Microfinance Services," 2023 Annual Meeting, July 23-25, Washington D.C. 335439, Agricultural and Applied Economics Association.
    41. Paolo Coccorese, 2010. "Information Exchange as a Means of Collusion: The Case of the Italian Car Insurance Market," Journal of Industry, Competition and Trade, Springer, vol. 10(1), pages 55-70, March.
    42. Neale Faith R. & Drake Pamela Peterson & Clark Steven P., 2010. "Diversification in the Financial Services Industry: The Effect of the Financial Modernization Act," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-30, March.
    43. M. Martin Boyer & Elijah Brewer & Willie Reddic, 2019. "The Association between Complexity and Managerial Discretion in the Property and Casualty Insurance Industry," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-33, September.
    44. Chia‐Chun Chiang, 2020. "Does Having an Affiliated Bank Improve Life Insurer Performance in a Turbulent Market?," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(3), pages 627-664, September.
    45. Trigo Gamarra, Lucinda, 2007. "Single- versus multi-channel distribution strategies in the German life insurance market: A cost and profit efficiency analysis," Thuenen-Series of Applied Economic Theory 81, University of Rostock, Institute of Economics.
    46. Al-Amri, Khalid & David Cummins, J. & Weiss, Mary A., 2021. "Economies of scope, organizational form, and insolvency risk: Evidence from the takaful industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    47. Otgontsetseg Erhemjamts & J. Tyler Leverty, 2010. "The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1011-1036, September.
    48. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    49. Thomas R. Berry-Stölzle & Robert E. Hoyt & Sabine Wende, 2013. "Capital Market Development, Competition, Property Rights, and the Value of Insurer Product-Line Diversification: A Cross-Country Analysis," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 423-459, June.
    50. James R. Garven, 2002. "On the Implications of the Internet for Insurance Markets and Institutions," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 5(2), pages 105-116, September.
    51. Barry Sheehan & Christian Humberg & Darren Shannon & Michael Fortmann & Stefan Materne, 2023. "Diversification and Solvency II: the capital effect of portfolio swaps on non-life insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(4), pages 872-905, October.
    52. Dean F. 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.).
    53. Eling, Martin & Luhnen, Michael, 2010. "Efficiency in the international insurance industry: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1497-1509, July.
    54. Jaap Bikker & Adelina Popescu, 2014. "Efficiency and competition in the Dutch non-life insurance industry: Effects of the 2006 health care reform," Working Papers 14-12, Utrecht School of Economics.
    55. Weiss, Mary A. & Choi, Byeongyong Paul, 2008. "State regulation and the structure, conduct, efficiency and performance of US auto insurers," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 134-156, January.
    56. David L. Eckles & Martin Halek, 2010. "Insurer Reserve Error and Executive Compensation," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(2), pages 329-346, June.
    57. Biener, Christian & Eling, Martin & Jia, Ruo, 2017. "The structure of the global reinsurance market: An analysis of efficiency, scale, and scope," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 213-229.
    58. Stephen G. Fier & Andre P. Liebenberg & Ivonne A. Liebenberg, 2017. "Insurer Growth Strategies," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 20(3), pages 309-337, December.
    59. Jarraya, Bilel & Bouri, Abdelfettah, 2013. "Multiobjective optimization for the asset allocation of European nonlife insurance companies," MPRA Paper 53697, University Library of Munich, Germany, revised 2013.
    60. Elyas Elyasiani & Sotiris K. Staikouras & Panagiotis Dontis-Charitos, 2016. "Cross-Industry Product Diversification and Contagion in Risk and Return: The case of Bank-Insurance and Insurance-Bank Takeovers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(3), pages 681-718, September.
    61. Mälkönen, Ville, 2009. "Financial conglomeration and monitoring incentives," Journal of Financial Stability, Elsevier, vol. 5(2), pages 105-123, June.
    62. Carvalho, Pedro & Marques, Rui Cunha, 2014. "Computing economies of vertical integration, economies of scope and economies of scale using partial frontier nonparametric methods," European Journal of Operational Research, Elsevier, vol. 234(1), pages 292-307.
    63. David Cummins, J. & Rubio-Misas, María, 2021. "Country factor behavior for integration improvement of European life insurance markets," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 186-202.
    64. Mu-Sheng Chang & Elyas Elyasiani, 2015. "Do insurance activities enhance the performance of financial services holding companies?," Applied Economics, Taylor & Francis Journals, vol. 47(33), pages 3559-3576, July.
    65. J. Outreville, 2010. "Internationalization, Performance and Volatility: The World Largest Financial Groups," Journal of Financial Services Research, Springer;Western Finance Association, vol. 38(2), pages 115-134, December.
    66. Boot, Arnoud W. A., 2003. "Restructuring in the banking industry withimplications for Europe," EIB Papers 5/2003, European Investment Bank, Economics Department.
    67. Jeungbo Shim, 2011. "Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(3), pages 119-144, June.
    68. Berger, Allen N. & Hasan, Iftekhar & Korhonen, Iikka & Zhou, Mingming, 2010. "Does diversification increase or decrease bank risk and performance? Evidence on diversification and the risk-return tradeoff in banking," BOFIT Discussion Papers 9/2010, Bank of Finland Institute for Emerging Economies (BOFIT).
    69. Valentina Hartarska & Jingfang Zhang & Denis A. Nadolnyak, 2023. "Scope economies from rural and urban microfinance services," Southern Economic Journal, John Wiley & Sons, vol. 89(4), pages 1138-1167, April.
    70. Carbo Valverde, Santiago & Fernandez, Francisco Rodriguez, 2005. "New evidence of scope economies among lending, deposit-taking, loan commitments and mutual fund activities," Journal of Economics and Business, Elsevier, vol. 57(3), pages 187-207.
    71. Adnan Kasman & Evrim Turgutlu, 2011. "Performance of European insurance firms in the single insurance market," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(3), pages 363-378.
    72. Leverty, J. Tyler & Grace, Martin F., 2010. "The robustness of output measures in property-liability insurance efficiency studies," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1510-1524, July.
    73. Bilel Jarraya & Hatem Afi & Anis Omri, 2023. "Analyzing the Profitability and Efficiency in European Non-Life Insurance Industry," Methodology and Computing in Applied Probability, Springer, vol. 25(2), pages 1-25, June.
    74. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    75. J. Cummins & Gregory Nini, 2002. "Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 15-53, February.
    76. Thomas R. Berry-Stölzle & Jianren Xu, 2022. "Local religious beliefs and insurance companies’ risk-taking behaviour," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(2), pages 242-278, April.
    77. Andrew Kuritzkes & Til Schuermann & Scott M. Weiner, 2002. "Risk Measurement, Risk Management and Capital Adequacy in Financial Conglomerates," Center for Financial Institutions Working Papers 03-02, Wharton School Center for Financial Institutions, University of Pennsylvania.
    78. Li‐Ying Huang & Yu‐Luen Ma & Nat Pope, 2012. "Foreign Ownership and Non‐Life Insurer Efficiency in the Japanese Marketplace," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 15(1), pages 57-88, March.
    79. Shim, Jeungbo, 2010. "Capital-based regulation, portfolio risk and capital determination: Empirical evidence from the US property-liability insurers," Journal of Banking & Finance, Elsevier, vol. 34(10), pages 2450-2461, October.
    80. Cummins, J. David & Rubio-Misas, Maria & Zi, Hongmin, 2004. "The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry," Journal of Banking & Finance, Elsevier, vol. 28(12), pages 3113-3150, December.
    81. Lee Soon-Jae & Jung Sechang & Lee Bong-Joo, 2006. "Does Bancassurance Increase the Efficiency of the Financial Industry? A Case for Korea," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 1(2), pages 1-17, February.
    82. Anirban Dutta, 2013. "Impact of Privatization on Productivity: A Non-Parametric Analysis of Indian Insurance Sector," Global Business Review, International Management Institute, vol. 14(2), pages 297-314, June.
    83. Stoyanova, Rayna & Gründl, Helmut, 2013. "Solvency II: A driver for mergers and acquisitions?," ICIR Working Paper Series 13/13, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    84. Khan, Abu & Hassan, M. Kabir & Maroney, Neal & Boujlil, Rhada & Ozkan, Bora, 2020. "Efficiency, diversification, and performance of US banks," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 101-117.
    85. Sebsatiaan Lambalk & Frank Jan de Graaf, 2017. "Explaining the relationship between firm performance and corporate governance of Dutch non-life insurance companies: Dutch mutual and commercial companies compared," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 7(2), pages 197-231, April.
    86. Mamatzakis, E & Koutsomanoli-Filippaki, Anastasia & Pasiouras, Fotios, 2012. "A quantile regression approach to bank efficiency measurement," MPRA Paper 51879, University Library of Munich, Germany.
    87. Estrella, Arturo, 2001. "Mixing and matching: Prospective financial sector mergers and market valuation," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2367-2392, December.
    88. Fenn, Paul & Vencappa, Dev & Diacon, Stephen & Klumpes, Paul & O'Brien, Chris, 2008. "Market structure and the efficiency of European insurance companies: A stochastic frontier analysis," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 86-100, January.
    89. Berry-Stölzle, Thomas R. & Irlbeck, Steven, 2021. "Religiosity and risk taking: Is there a demand-side effect?," Journal of Corporate Finance, Elsevier, vol. 71(C).
    90. Lei Peng & Zhaotong Lian, 2021. "Diversification and efficiency of life insurers in China and India," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(4), pages 710-730, October.
    91. Andre P. Liebenberg & David W. Sommer, 2008. "Effects of Corporate Diversification: Evidence From the Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(4), pages 893-919, December.
    92. M. Martin Boyer & Elicia P. Cowins & Willie D. Reddic, 2020. "Operational risk management and regulatory investment constraints on portfolio allocation: evidence from property and casualty insurers," Journal of Regulatory Economics, Springer, vol. 57(1), pages 20-52, February.
    93. Yin Choo Yap, 2009. "The Effects of Economies of Scale and Diversification on the Cost Structure of the Malaysian Non-life Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 4(1), pages 1-29, November.
    94. Steven Pottier, 2011. "Life insurer efficiency and state regulation: evidence of optimal firm behavior," Journal of Regulatory Economics, Springer, vol. 39(2), pages 169-193, April.

  6. J. David Cummins & Mary A. Weiss & Richard D. Phillips, 1999. "The Incentive Effects of No Fault Automobile Insurance," Center for Financial Institutions Working Papers 99-38, Wharton School Center for Financial Institutions, University of Pennsylvania.

    Cited by:

    1. Lorilee A. Medders & Charles M. Nyce & J. Bradley Karl, 2014. "Market Implications of Public Policy Interventions: The Case of Florida's Property Insurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(2), pages 183-214, September.
    2. Zabinski, Zenon & Black, Bernard S., 2022. "The deterrent effect of tort law: Evidence from medical malpractice reform," Journal of Health Economics, Elsevier, vol. 84(C).
    3. Eric A. Helland & Alexander Tabarrok, 2012. "Product Liability and Moral Hazard: Evidence from General Aviation," Journal of Law and Economics, University of Chicago Press, vol. 55(3), pages 593-630.
    4. Alma Cohen & Rajeev Dehejia, 2003. "The Effect of Automobile Insurance and Accident Liability Laws in Traffic Fatalities," NBER Working Papers 9602, National Bureau of Economic Research, Inc.
    5. Jonathan Yoder, 2005. "Liability, Regulation, and Endogenous Risk: Incidence and Severity of Escaped Prescribed Fires in the United States," Working Papers 2005-8, School of Economic Sciences, Washington State University.
    6. Vereeck, Lode & Vrolix, Klara, 2007. "The social willingness to comply with the law: The effect of social attitudes on traffic fatalities," International Review of Law and Economics, Elsevier, vol. 27(4), pages 385-408, December.
    7. Georges Dionnne & Pierre-Carl Michaud & Jean Pinquet, 2012. "A Review of Recent Theoretical and Empirical Analyses of Asymmetric Information in Road Safety and Automobile Insurance," Cahiers de recherche 1204, CIRPEE.
    8. Paul Heaton, 2017. "How Does Tort Law Affect Consumer Auto Insurance Costs?," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(2), pages 691-715, June.
    9. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    10. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    11. Neri, Marcelo Côrtes, 2007. "The state of the youth: prisons, drugs and car crashes," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 661, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    12. Bronwyn Howell & Judy Kavanagh & Lisa Marriott, 2002. "No-Fault Public Liability Insurance: Evidence from New Zealand," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 9(2), pages 135-149.
    13. Daniel P. Kessler & Daniel L. Rubinfeld, 2004. "Empirical Study of the Civil Justice System," NBER Working Papers 10825, National Bureau of Economic Research, Inc.
    14. Joan T. Schmit & Jia‐Hsing Yeh, 2003. "An Economic Analysis of Auto Compensation Systems: Choice Experiences From New Jersey and Pennsylvania," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(4), pages 601-628, December.
    15. Steven Shavell, 2005. "Liability for Accidents," NBER Working Papers 11781, National Bureau of Economic Research, Inc.
    16. Pavel A. Yakovlev & Christina M. Orr-Magulick, 2018. "On the road again: traffic fatalities and auto insurance minimums," Public Sector Economics, Institute of Public Finance, vol. 42(1), pages 45-65.
    17. Fenn, Paul & Gray, Alastair & Rickman, Neil, 2007. "Liability, insurance and medical practice," Journal of Health Economics, Elsevier, vol. 26(5), pages 1057-1070, September.
    18. Mary A. Weiss & Sharon Tennyson & Laureen Regan, 2010. "The Effects of Regulated Premium Subsidies on Insurance Costs: An Empirical Analysis of Automobile Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 597-624, September.

  7. J. David Cummins & Sharon Tennyson & Mary A. Weiss, 1998. "Consolidation and Efficiency in the U.S. Life Insurance Industry," Center for Financial Institutions Working Papers 98-08, Wharton School Center for Financial Institutions, University of Pennsylvania.

    Cited by:

    1. Trigo Gamarra, Lucinda, 2008. "The effects of liberalization and deregulation on the performance of financial institutions: The case of the German life insurance market," Thuenen-Series of Applied Economic Theory 93, University of Rostock, Institute of Economics.
    2. Dionne, Georges & Desjardins, Denise, 2022. "A re-examination of the U.S. insurance market’s capacity to pay catastrophe losses," Working Papers 22-2, HEC Montreal, Canada Research Chair in Risk Management.
    3. Gonzalo Rodríguez‐Pérez & John Slof & Magda Solà & Margarita Torrent & Immaculada Vilardell, 2011. "Assessing the Impact of Fair‐Value Accounting on Financial Statement Analysis: A Data Envelopment Analysis Approach," Abacus, Accounting Foundation, University of Sydney, vol. 47(1), pages 61-84, March.
    4. McShane, Michael K. & Cox, Larry A. & Butler, Richard J., 2010. "Regulatory competition and forbearance: Evidence from the life insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(3), pages 522-532, March.
    5. Choi, Sungho & Francis, Bill B. & Hasan, Iftekhar, 2010. "Cross-border bank M&As and risk: evidence from the bond market," Bank of Finland Research Discussion Papers 4/2010, Bank of Finland.
    6. Chakraborty Kalyan & Dutta Anirban & Sengupta Partha Pratim, 2012. "Efficiency and Productivity of Indian Life Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 7(1), pages 1-28, December.
    7. Ihsan Isik & Ugur Meleke & Ebru Isik, 2002. "Liberalization, Ownership and Productivity in Turkish Banking," Working Papers 0218, Economic Research Forum, revised 20 Jun 2002.
    8. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    9. Chiang Ku Fan, 2012. "Compare bancassurance sales with an insurer's own team in Taiwan," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 13(3/4), pages 274-293.
    10. Tao Zhang & Larry A. Cox & Robert A. Van Ness, 2009. "Adverse Selection and the Opaqueness of Insurers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(2), pages 295-321, June.
    11. María Victoria Uribe‐Bohorquez & Jennifer Martínez‐Ferrero & Isabel‐María García‐Sánchez, 2019. "Women on boards and efficiency in a business‐orientated environment," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(1), pages 82-96, January.
    12. Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Consolidation and systemic risk in the international insurance industry," Journal of Financial Stability, Elsevier, vol. 18(C), pages 187-202.
    13. S Lozano & G Villa, 2010. "DEA-based pre-merger planning tool," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 61(10), pages 1485-1497, October.
    14. Berger, Allen N. & Cummins, J. David & Weiss, Mary A. & Zi, Hongmin, 2000. "Conglomeration versus Strategic Focus: Evidence from the Insurance Industry," Journal of Financial Intermediation, Elsevier, vol. 9(4), pages 323-362, October.
    15. Biener, Christian & Eling, Martin & Wirfs, Jan Hendrik, 2016. "The determinants of efficiency and productivity in the Swiss insurance industry," European Journal of Operational Research, Elsevier, vol. 248(2), pages 703-714.
    16. Suvvari Anandarao & S. Raja Sethu Durai & Phanindra Goyari, 2019. "Efficiency Decomposition in two-stage Data Envelopment Analysis: An application to Life Insurance companies in India," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(2), pages 271-285, June.
    17. Simar, Leopold & Wilson, Paul, 2018. "Technical, Allocative and Overall Efficiency: Inference and Hypothesis Testing," LIDAM Discussion Papers ISBA 2018018, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
    18. Lotfi Ben Jedidia & Imed Medhioub, 2015. "The Efficiency of Saudi Arabia Insurance Companies," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 5(3), pages 237-248.
    19. Kjell Sümegi & Peter Haiss, 2006. "The Relationship of Insurance and Economic Growth - a Theoretical and Empirical Analysis," EcoMod2006 272100091, EcoMod.
    20. Eling, Martin & Jia, Ruo, 2018. "Business failure, efficiency, and volatility: Evidence from the European insurance industry," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 58-76.
    21. Milton Nektarios & Panos Xenos & George Nektarios & Kostas Poulakis & Michalis Chouzouris, 2015. "Efficiency Analysis of Lloyd’s Syndicates: A Comparison of DEA and SFA Approaches," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(1-2), pages 27-46, January-M.
    22. Biresh K. Sahoo & Kaoru Tone, 2022. "Evaluating the potential efficiency gains from optimal industry configuration: A case of life insurance industry of India," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3996-4009, December.
    23. Berger, Allen N., 2003. "The efficiency effects of a single market for financial services in Europe," European Journal of Operational Research, Elsevier, vol. 150(3), pages 466-481, November.
    24. Xiaoqing Chen & Kristiaan Kerstens & Mike Tsionas, 2023. "Does Productivity Change at All in Swedish District Courts? Empirical Analysis Focusing on Horizontal Mergers," Working Papers 2023-EQM-03, IESEG School of Management.
    25. Jin Lung Peng & Lih Ru Chen & Jennifer L. Wang & Larry Y. Tzeng, 2017. "Diversification Versus Strategic Focus: Evidence from Insurance Intermediaries in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(3), pages 530-555, July.
    26. Bingzheng Chen & Michael R. Powers & Joseph Qiu, 2009. "Life‐insurance Efficiency in China: A Comparison of Foreign and Domestic Firms," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(6), pages 43-63, November.
    27. Allen N. Berger, 2000. "The integration of the financial services industry: where are the efficiencies?," Finance and Economics Discussion Series 2000-36, Board of Governors of the Federal Reserve System (U.S.).
    28. Narjess Boubakri & Georges Dionne & Thouraya Triki, 2006. "Consolidation and Value Creation in the Insurance Industry: the Role of Governance," Cahiers de recherche 0626, CIRPEE.
    29. Brito, Duarte & Pereira, Pedro & Ramalho, Joaquim J.S., 2013. "Mergers, coordinated effects and efficiency in the Portuguese non-life insurance industry," International Journal of Industrial Organization, Elsevier, vol. 31(5), pages 554-568.
    30. Kwoka, John & Pollitt, Michael, 2010. "Do mergers improve efficiency? Evidence from restructuring the US electric power sector," International Journal of Industrial Organization, Elsevier, vol. 28(6), pages 645-656, November.
    31. Karim, M.Z.A. & Jhantasana, Ch., 2005. "Efficiency and Profitability in Thailand’s Life Insurance Industry: A Cost Frontier Function and Hausman test, 1997-2002," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 2(4), pages 19-36.
    32. Kuan-Chen Chen & Chung-I Lin, 2020. "Studies on the Determinants of Efficiency in Taiwanese Life Insurance Industry - Application of Bootstrapped Truncated Model," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(1), pages 1-4.
    33. Mohammad Nourani & Qian Long Kweh & Irene Wei Kiong Ting & Wen-Min Lu & Anna Strutt, 2022. "Evaluating traditional, dynamic and network business models: an efficiency-based study of Chinese insurance companies," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 905-943, October.
    34. Vivian Jeng & Gene C Lai, 2008. "The Impact of Deregulation on Efficiency: An Analysis of Life Insurance Industry in Taiwan From 1981 to 2004," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(2), pages 349-375, September.
    35. Trigo Gamarra, Lucinda, 2007. "Single- versus multi-channel distribution strategies in the German life insurance market: A cost and profit efficiency analysis," Thuenen-Series of Applied Economic Theory 81, University of Rostock, Institute of Economics.
    36. Alireza Hirad, 2014. "Designation and Explanation of Performance Evaluation Model Metals Producers Companies in Iran Stock Exchange with an Approach to Data Envelopment Analysis," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(4), pages 44-59, October.
    37. Otgontsetseg Erhemjamts & J. Tyler Leverty, 2010. "The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1011-1036, September.
    38. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    39. Khan, Atiquzzafar & Noreen, Uzma, 2014. "Efficiency Measure of Insurance v/s Tak ful Firms Using DEA Approach: A Case of Pakistan," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 139-158.
    40. Barry Sheehan & Christian Humberg & Darren Shannon & Michael Fortmann & Stefan Materne, 2023. "Diversification and Solvency II: the capital effect of portfolio swaps on non-life insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(4), pages 872-905, October.
    41. Dean F. 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.).
    42. Chen-Ying Lee, 2020. "The Impact of Product Diversification on Risk-taking Behavior in Property and Liability Insurance Firms," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(3), pages 1-9.
    43. Shoaib Alam Siddiqui & Ali Shaddady, 2023. "How Profit Efficient is Indian Life Insurance Industry: A DEA Study," SAGE Open, , vol. 13(4), pages 21582440231, December.
    44. Eling, Martin & Luhnen, Michael, 2010. "Efficiency in the international insurance industry: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1497-1509, July.
    45. Sebouh Aintablian & Gordon S. Roberts, 2005. "Market Response to Announcements of Mergers of Canadian Financial Institutions," Multinational Finance Journal, Multinational Finance Journal, vol. 9(1-2), pages 72-98, March-Jun.
    46. Benjamin Lorent, 2010. "The Link between Insurance and Banking Sectors: An International Cross-Section Analysis of Life Insurance Demand," Working Papers CEB 10-040, ULB -- Universite Libre de Bruxelles.
    47. Simonyan, Karen, 2014. "What determines takeover premia: An empirical analysis," Journal of Economics and Business, Elsevier, vol. 75(C), pages 93-125.
    48. Yu‐Luen Ma & Nat Pope & Xiaoying Xie, 2014. "Contingent Commissions, Insurance Intermediaries, and Insurer Performance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(1), pages 61-81, March.
    49. Biener, Christian & Eling, Martin & Jia, Ruo, 2017. "The structure of the global reinsurance market: An analysis of efficiency, scale, and scope," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 213-229.
    50. Matthias Köhler, 2009. "Transparency of Regulation and Cross-Border Bank Mergers Analysis of Interest Rate Differentials across the Monetary Union," International Journal of Central Banking, International Journal of Central Banking, vol. 5(1), pages 39-73, March.
    51. Kwaku Ohene-Asare & Jones Kofi Anyimadu Asare & Charles Turkson, 2019. "Dynamic cost productivity and economies of scale of Ghanaian insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(1), pages 148-177, January.
    52. Allen N. Berger & Rebecca Demsetz & Philip E. Strahan, 1998. "The consolidation of the financial services industry: causes, consequences, and the implications for the future," Staff Reports 55, Federal Reserve Bank of New York.
    53. Xiaoqing Chen & Kristiaan Kerstens & Qingyuan Zhu, 2021. "Exploring Horizontal Mergers in Swedish District Courts Using Convex and Nonconvex Technologies: Usefulness of a Conservative Approach," Working Papers 2021-EQM-05, IESEG School of Management.
    54. Huang, Tai-Hsin & Lin, Chung-I & Wu, Ruei-Cian, 2019. "Assessing the marketing and investment efficiency of Taiwan’s life insurance firms under network structures," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 132-147.
    55. J. David Cummins & María Rubio-Misas, 2022. "Integration and convergence in efficiency and technology gap of European life insurance markets," Annals of Operations Research, Springer, vol. 315(1), pages 93-119, August.
    56. Elyas Elyasiani & Sotiris K. Staikouras & Panagiotis Dontis-Charitos, 2016. "Cross-Industry Product Diversification and Contagion in Risk and Return: The case of Bank-Insurance and Insurance-Bank Takeovers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(3), pages 681-718, September.
    57. Dionne, Georges & Fenou, Akouété & Mnasri, Mohamed, 2023. "Consolidation of the US property and casualty insurance industry: Is climate risk a causal factor for mergers and acquisitions?," Working Papers 23-1, HEC Montreal, Canada Research Chair in Risk Management.
    58. Jeungbo Shim, 2017. "An Investigation Of Market Concentration And Financial Stability In Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(2), pages 567-597, June.
    59. Jeungbo Shim, 2011. "Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(3), pages 119-144, June.
    60. Cummins, J. David & Xie, Xiaoying, 2008. "Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 30-55, January.
    61. Omar Masood & Bruno Sergi, 2011. "China’s banking system, market structure, and competitive conditions," Frontiers of Economics in China, Springer;Higher Education Press, vol. 6(1), pages 22-35, March.
    62. Milton Nektarios, 2010. "A Growth Theory for the Insurance Industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(1), pages 45-60, March.
    63. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    64. J. Cummins & Gregory Nini, 2002. "Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 15-53, February.
    65. Bok Baik & Joon Chae & Sunhwa Choi & David B. Farber, 2013. "Changes in Operational Efficiency and Firm Performance: A Frontier Analysis Approach," Contemporary Accounting Research, John Wiley & Sons, vol. 30(3), pages 996-1026, September.
    66. Anirban Dutta, 2013. "Impact of Privatization on Productivity: A Non-Parametric Analysis of Indian Insurance Sector," Global Business Review, International Management Institute, vol. 14(2), pages 297-314, June.
    67. Uribe-Bohorquez, María-Victoria & Martínez-Ferrero, Jennifer & García-Sánchez, Isabel-María, 2018. "Board independence and firm performance: The moderating effect of institutional context," Journal of Business Research, Elsevier, vol. 88(C), pages 28-43.
    68. Simar, Léopold & Wilson, Paul W., 2020. "Technical, allocative and overall efficiency: Estimation and inference," European Journal of Operational Research, Elsevier, vol. 282(3), pages 1164-1176.
    69. Kaffash, Sepideh & Azizi, Roza & Huang, Ying & Zhu, Joe, 2020. "A survey of data envelopment analysis applications in the insurance industry 1993–2018," European Journal of Operational Research, Elsevier, vol. 284(3), pages 801-813.
    70. Peter C. Carstensen, 2018. "Merger Guidelines and the Limits of Our Understanding," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 53(3), pages 477-506, November.
    71. Stoyanova, Rayna & Gründl, Helmut, 2013. "Solvency II: A driver for mergers and acquisitions?," ICIR Working Paper Series 13/13, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    72. Zélia Serrasqueiro & Paulo Maçãs Nunes, 2008. "Performance and size: empirical evidence from Portuguese SMEs," Small Business Economics, Springer, vol. 31(2), pages 195-217, August.
    73. Jill Bisco & Kathleen McCullough, 2017. "Retained Asset Accounts and Creditor Reactions to an A.M. Best Change," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 20(3), pages 277-307, December.
    74. Yao, Shujie & Han, Zhongwei & Feng, Genfu, 2007. "On technical efficiency of China's insurance industry after WTO accession," China Economic Review, Elsevier, vol. 18(1), pages 66-86.
    75. Xie, Xiaoying, 2010. "Are publicly held firms less efficient? Evidence from the US property-liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1549-1563, July.
    76. Dionne, Georges & Fenou, Akouété & Mnasri, Mohamed, 2024. "Insurers’ M&A in the United States during the 1990-2022 period: Is the Fed monetary policy a causal factor," Working Papers 24-2, HEC Montreal, Canada Research Chair in Risk Management.
    77. Tai-Hsin Huang & Yi-Chun Lin & Kuo-Jui Huang & Yu-Wei Liao, 2022. "Comparing Cost Efficiency Between Financial and Non-financial Holding Banks and Insurers in Taiwan Under the Framework of Copula Methods and Metafrontier," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(4), pages 735-766, December.
    78. Pang-Ru Chang & Jin-Lung Peng & Chiang Ku Fan, 2011. "A Comparison of Bancassurance and Traditional Insurer Sales Channels," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 36(1), pages 76-93, January.
    79. Neale, Faith R. & Peterson, Pamela P., 2005. "The effect of the Gramm-Leach-Bliley Act on the insurance industry," Journal of Economics and Business, Elsevier, vol. 57(4), pages 317-338.
    80. Vincent Y. Chang, 2019. "Does reinsurance purchasing enhance insurers’ competitiveness? Evidence from the U.S. property–liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(4), pages 595-623, October.
    81. Sen Subir, 2020. "Analysis of Cost Efficiency of Indian Life Insurers: A comparison of Quantity vs Value based DEA Approach," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 14(1), pages 1-25, January.
    82. Chiaramonte, Laura & Dreassi, Alberto & Piserà, Stefano & Khan, Ashraf, 2023. "Mergers and acquisitions in the financial industry: A bibliometric review and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).
    83. Steven Pottier, 2011. "Life insurer efficiency and state regulation: evidence of optimal firm behavior," Journal of Regulatory Economics, Springer, vol. 39(2), pages 169-193, April.
    84. Kramarić Tomislava Pavić & Miletić Marko, 2019. "The Boone Indicator as Determinant of Croatian Insurance Market Soundness," South East European Journal of Economics and Business, Sciendo, vol. 14(2), pages 1-12, December.
    85. Huong Dang, 2014. "A Competing Risks Dynamic Hazard Approach to Investigate the Insolvency Outcomes of Property-Casualty Insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 39(1), pages 42-76, January.
    86. Anirban Dutta & Partha Pratim Sengupta, 2011. "Efficiency Measurement of Indian Life Insurance Industry in Post-Reforms Era," Global Business Review, International Management Institute, vol. 12(3), pages 415-430, October.
    87. Kimberly C. Gleason & Ike Mathur & Roy A. Wiggins, III, 2003. "Evidence on Value Creation in the Financial Services Industries through the Use of Joint Ventures and Strategic Alliances," The Financial Review, Eastern Finance Association, vol. 38(2), pages 213-234, May.

  8. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1998. "Organizational Form and Efficiency: An Analysis of Stock and Mutual Property-Liability Insurers," Center for Financial Institutions Working Papers 97-02, Wharton School Center for Financial Institutions, University of Pennsylvania.

    Cited by:

    1. Hao, James C.J. & Chou, Lin-Yhi, 2005. "The estimation of efficiency for life insurance industry: The case in Taiwan," Journal of Asian Economics, Elsevier, vol. 16(5), pages 847-860, October.
    2. Gonzalo Rodríguez‐Pérez & John Slof & Magda Solà & Margarita Torrent & Immaculada Vilardell, 2011. "Assessing the Impact of Fair‐Value Accounting on Financial Statement Analysis: A Data Envelopment Analysis Approach," Abacus, Accounting Foundation, University of Sydney, vol. 47(1), pages 61-84, March.
    3. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
    4. Sufian, Fadzlan, 2011. "Banks total factor productivity change in a developing economy: Does ownership and origins matter?," Journal of Asian Economics, Elsevier, vol. 22(1), pages 84-98, February.
    5. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    6. 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.
    7. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    8. Bernhard Mahlberg & Thomas Url, 2000. "The Transition to the Single Market in the German Insurance Industry," WIFO Working Papers 131, WIFO.
    9. J. David Cummins & Maria Rubio-Misas, 2001. "Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry," Center for Financial Institutions Working Papers 02-01, Wharton School Center for Financial Institutions, University of Pennsylvania.
    10. J.Cook & S.Deakin & A.Hughes, 2001. "Mutuality and Corporate Governance: The Evolution of UK Building Societies Following Deregulation," Working Papers wp205, Centre for Business Research, University of Cambridge.
    11. Robert W. Klein & Paul R. Kleindorfer, 1999. "The Supply of Catastrophe Insurance Under Regulatory Constraints," Center for Financial Institutions Working Papers 99-25, Wharton School Center for Financial Institutions, University of Pennsylvania.
    12. J. Cummins & Gregory Nini, 2002. "Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 15-53, February.

  9. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.

    Cited by:

    1. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2008. "The Costs and Benefits of Reinsurance," Cahiers de recherche 08-04, HEC Montréal, Institut d'économie appliquée.
    2. Shuji Yao & Zhongwei Han & Dan Luo, 2010. "Performance of the Chinese Insurance Industry under Economic Reforms," Books, Edward Elgar Publishing, number 12788.
    3. Swati Chauhan, 2021. "Social and Financial Efficiency: A Study of Indian Microfinance Institutions," IIM Kozhikode Society & Management Review, , vol. 10(1), pages 31-43, January.
    4. J. David Cummins & Hongmin Zi, 1997. "Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry," Center for Financial Institutions Working Papers 97-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
    5. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    6. 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.
    7. Shi, Peng & Frees, Edward W., 2010. "Long-tail longitudinal modeling of insurance company expenses," Insurance: Mathematics and Economics, Elsevier, vol. 47(3), pages 303-314, December.
    8. Imed Limam, 2001. "A Comparative Study of GCC Banks Technical Efficiency," Working Papers 0119, Economic Research Forum, revised 07 May 2001.
    9. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    10. Cecilia Dassatti & Rodrigo Lluberas, 2020. "The costs of annuitising: are retirees fairly charged?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(3), pages 535-557, July.
    11. Chrysovalantis Gaganis & Iftekhar Hasan & Fotios Pasiouras, 2013. "Efficiency and stock returns: evidence from the insurance industry," Journal of Productivity Analysis, Springer, vol. 40(3), pages 429-442, December.
    12. Nai Chiek Aik & Taufiq Hassan & Shamsher Mohamad, 2015. "Do Malaysian Horizontal Mergers and Acquisitions Create Value?," Global Business Review, International Management Institute, vol. 16(5_suppl), pages 15-27, October.
    13. Imed Limam, "undated". "Measuring Technical Efficiency of Kuwait Banks," API-Working Paper Series 0101, Arab Planning Institute - Kuwait, Information Center.
    14. Bernhard Mahlberg & Thomas Url, 2000. "The Transition to the Single Market in the German Insurance Industry," WIFO Working Papers 131, WIFO.
    15. Cecilia Dassatti & Rodrigo Lluberas, 2016. "The costs of annuitizing," Documentos de trabajo 2016004, Banco Central del Uruguay.
    16. Idries M. Al-Jarrah & Khalid S. Al-Abdulqader & Shawkat Hammoudeh, 2017. "Cost-efficiency and financial and geographical characteristics of banking sectors in the MENA countries," Applied Economics, Taylor & Francis Journals, vol. 49(35), pages 3523-3537, July.
    17. Khan, Atiquzzafar & Noreen, Uzma, 2014. "Efficiency Measure of Insurance v/s Tak ful Firms Using DEA Approach: A Case of Pakistan," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 139-158.
    18. Fitzpatrick, Trevor & McQuinn, Kieran, 2004. "Cost Efficiency in UK and Irish Credit Institutions," Research Technical Papers 3/RT/04, Central Bank of Ireland.
    19. Weiss, Mary A. & Choi, Byeongyong Paul, 2008. "State regulation and the structure, conduct, efficiency and performance of US auto insurers," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 134-156, January.
    20. Allen N. Berger & Rebecca Demsetz & Philip E. Strahan, 1998. "The consolidation of the financial services industry: causes, consequences, and the implications for the future," Staff Reports 55, Federal Reserve Bank of New York.
    21. Cummins, J. David & Xie, Xiaoying, 2008. "Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 30-55, January.
    22. Trevor Fitzpatrick & Kieran McQuinn, 2005. "Labour Cost Efficiency in UK and Irish Credit Institutions," The Economic and Social Review, Economic and Social Studies, vol. 36(1), pages 45-66.
    23. Cummins, J. David & Rubio-Misas, Maria & Zi, Hongmin, 2004. "The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry," Journal of Banking & Finance, Elsevier, vol. 28(12), pages 3113-3150, December.
    24. Giesecke, James A. & Horridge, J. Mark & Scaramucci, José A., 2008. "Brazilian structural adjustment to rapid growth in fuel ethanol demand," Conference papers 331670, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    25. Mahlberg Bernhard, 2000. "Technischer Fortschritt und Produktivitätsveränderungen in der deutschen Versicherungswirtschaft / Efficiency Progress and Productivity Change in Germany Insurance Industry," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 220(5), pages 565-591, October.
    26. Gustavo Ferro & Carlos A. Romero, 2011. "Comparación de medidas de cambio de productividad. Las aproximaciones de Malmquist y Luenberger en una aplicación al mercado de seguros," Working Papers hal-00597946, HAL.

  10. Allen N. Berger & J. David Cummins & Mary A. Weiss, 1995. "The coexistence of multiple distribution systems for financial services: the case of property-liability insurance," Finance and Economics Discussion Series 95-22, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Hasan, Iftekhar & Lozano-Vivas, Ana, 2002. "Organizational Form and Expense Preference: Spanish Experience," Bulletin of Economic Research, Wiley Blackwell, vol. 54(2), pages 135-150, April.
    2. Martina Eckardt & Solvig Räthke‐Döppner, 2010. "The Quality of Insurance Intermediary Services—Empirical Evidence for Germany," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 667-701, September.
    3. Chang Vincent Y. & Wang Jennifer L. & Tzeng Larry Y., 2010. "A Reexamination of the Relationship between Organizational Forms and Distribution Channels in the U.S. Property Liability Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 4(2), pages 1-26, July.
    4. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1998. "Organizational form and efficiency: an analysis of stock and mutual property-liability insurers," Working Papers 98-19, Federal Reserve Bank of Philadelphia.
    5. Allen Berger & Robert DeYoung, 2001. "The Effects of Geographic Expansion on Bank Efficiency," Journal of Financial Services Research, Springer;Western Finance Association, vol. 19(2), pages 163-184, April.
    6. Shuji Yao & Zhongwei Han & Dan Luo, 2010. "Performance of the Chinese Insurance Industry under Economic Reforms," Books, Edward Elgar Publishing, number 12788.
    7. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    8. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
    9. Thomas R. Berry-Stölzle & David L. Eckles, 2019. "It’s about building a book of business: incentives of insurance salespersons from future renewals," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(4), pages 702-731, October.
    10. L. Lee Colquitt & Kathleen A. McCullough & David W. Sommer, 2011. "An Analysis of Contingent Commission Use by Property–Liability Insurers," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 14(2), pages 157-171, September.
    11. Maciejczak, Mariusz, 2015. "Will the institution of coexistence be re-defined by TTIP?," GMCC-15: Seventh GMCC, November 17-20, 2015, Amsterdam, the Netherlands 211478, International Conference on Coexistence between Genetically Modified (GM) and non-GM based Agricultural Supply Chains (GMCC).
    12. Chakraborty Kalyan & Dutta Anirban & Sengupta Partha Pratim, 2012. "Efficiency and Productivity of Indian Life Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 7(1), pages 1-28, December.
    13. Damian Ward, 2003. "Can Independent Distribution Function as a Mode of Corporate Governance?: An Examination of the UK Life Insurance Market," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 7(4), pages 361-384, December.
    14. Parente, Ronaldo & Choi, Byeongyong Paul & Slangen, Arjen H.L. & Ketkar, Sonia, 2010. "Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States," Journal of International Management, Elsevier, vol. 16(3), pages 275-287, September.
    15. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    16. Baharin, Roziana & isa, zaidi, 2018. "Box Cox- Fourier Flexible Functional Forms in Stochastic Metafrontier Analysis: The Cost Efficiency of the Insurance Industry in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 135-144.
    17. Jalal D. Akhavein & Allen N. Berger & David B. Humphrey, 1996. "The Effects of Megamergers on Efficiency and Prices: Evidence from a Bank Profit Function," Center for Financial Institutions Working Papers 96-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
    18. Martin Eling & Martin Lehmann & Philipp Schaper, 2022. "Optimal labor and capital utilization by financial firms: evidence from the German property and casualty insurance industry," Journal of Business Economics, Springer, vol. 92(5), pages 853-897, July.
    19. B. Elango & Yu‐Luen Ma & Nat Pope, 2008. "An Investigation Into the Diversification–Performance Relationship in the U.S. Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(3), pages 567-591, September.
    20. Berger, Allen N. & Cummins, J. David & Weiss, Mary A. & Zi, Hongmin, 2000. "Conglomeration versus Strategic Focus: Evidence from the Insurance Industry," Journal of Financial Intermediation, Elsevier, vol. 9(4), pages 323-362, October.
    21. Arabmaldar, A. & Sahoo, B.K. & Ghiyasi, M., 2023. "A generalized robust data envelopment analysis model based on directional distance function," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 138962, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    22. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    23. Allen N. Berger & Loretta J. Mester, 1997. "Inside the black box: what explains differences in the efficiencies of financial institutions?," Working Papers 97-1, Federal Reserve Bank of Philadelphia.
    24. Lucia Spotorno & Ornella Moro, 2020. "Do bank-affiliated P&C insurers perform better? An empirical investigation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(2), pages 225-255, April.
    25. Milton Nektarios & Panos Xenos & George Nektarios & Kostas Poulakis & Michalis Chouzouris, 2015. "Efficiency Analysis of Lloyd’s Syndicates: A Comparison of DEA and SFA Approaches," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(1-2), pages 27-46, January-M.
    26. Biresh K. Sahoo & Kaoru Tone, 2022. "Evaluating the potential efficiency gains from optimal industry configuration: A case of life insurance industry of India," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3996-4009, December.
    27. Jin Lung Peng & Lih Ru Chen & Jennifer L. Wang & Larry Y. Tzeng, 2017. "Diversification Versus Strategic Focus: Evidence from Insurance Intermediaries in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(3), pages 530-555, July.
    28. Trigo Gamarra, Lucinda, 2007. "Does the product quality hypothesis hold true? Service quality differences between independent and exclusive insurance agents," Thuenen-Series of Applied Economic Theory 76, University of Rostock, Institute of Economics.
    29. Udo Klotzki & Nadine Gatzert & Bjoern Muenstermann, 2017. "The Cost of Life Distribution in Europe," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(2), pages 296-322, April.
    30. Allen N. Berger, 2000. "The integration of the financial services industry: where are the efficiencies?," Finance and Economics Discussion Series 2000-36, Board of Governors of the Federal Reserve System (U.S.).
    31. Patricia Born & M. Martin Boyer, 2011. "Claims‐Made and Reported Policies and Insurer Profitability in Medical Malpractice," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(1), pages 139-162, March.
    32. Venezia, Itzhak & Galai, Dan & Shapira, Zur, 1999. "Exclusive vs. independent agents: a separating equilibrium approach," Journal of Economic Behavior & Organization, Elsevier, vol. 40(4), pages 443-456, December.
    33. Dionne, Georges & Gagné, Robert & Nouira, Abdelhakim, 2007. "Determinants of insurers’ performance in risk pooling, risk management, and financial intermediation activities," Working Papers 07-4, HEC Montreal, Canada Research Chair in Risk Management.
    34. Norma & Saad & M. Shabri Abd. Majid & Salina Kassim & Zarinah Hamid & Rosylin Mohd. Yusof, 2010. "A comparative analysis of the performance of conventional and Islamic unit trust companies in Malaysia," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 6(1), pages 24-47, February.
    35. Vivas, Ana Lozano, 1997. "Profit efficiency for Spanish savings banks," European Journal of Operational Research, Elsevier, vol. 98(2), pages 381-394, April.
    36. Shi, Peng & Frees, Edward W., 2010. "Long-tail longitudinal modeling of insurance company expenses," Insurance: Mathematics and Economics, Elsevier, vol. 47(3), pages 303-314, December.
    37. Altunbas, Y. & Chakravarty, S. P., 2001. "Frontier cost functions and bank efficiency," Economics Letters, Elsevier, vol. 72(2), pages 233-240, August.
    38. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    39. Annette Hofmann & Julia K. Neumann & David Pooser, 2018. "Plea for Uniform Regulation and Challenges of Implementing the New Insurance Distribution Directive," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(4), pages 740-769, October.
    40. Jeungbo Shim, 2023. "Are mergers and acquisitions beneficial to consumers? Evidence from the property‐liability insurance industry," The Financial Review, Eastern Finance Association, vol. 58(3), pages 629-652, August.
    41. Damian Ward & Igor Filatotchev, 2010. "Principal-principal-agency relationships and the role of external governance," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(4), pages 249-261.
    42. Trigo Gamarra, Lucinda, 2007. "Single- versus multi-channel distribution strategies in the German life insurance market: A cost and profit efficiency analysis," Thuenen-Series of Applied Economic Theory 81, University of Rostock, Institute of Economics.
    43. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    44. Robert Puelz, 2010. "Technology's Effect on Property–Casualty Insurance Operations," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(1), pages 85-109, March.
    45. J. David Cummins & Maria Rubio-Misas, 2001. "Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry," Center for Financial Institutions Working Papers 02-01, Wharton School Center for Financial Institutions, University of Pennsylvania.
    46. Dean F. 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.).
    47. Elango, B., 2009. "Minimizing effects of 'liability of foreignness': Response strategies of foreign firms in the United States," Journal of World Business, Elsevier, vol. 44(1), pages 51-62, January.
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    50. Weiss, Mary A. & Choi, Byeongyong Paul, 2008. "State regulation and the structure, conduct, efficiency and performance of US auto insurers," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 134-156, January.
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    57. Olivia S. Mitchell, "undated". "Administrative Costs in Public and Private Retirement Systems," Pension Research Council Working Papers 96-4, Wharton School Pension Research Council, University of Pennsylvania.
    58. Jeungbo Shim, 2011. "Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(3), pages 119-144, June.
    59. Ankitha Shetty & Savitha Basri, 2020. "Assessing the Technical Efficiency of Traditional and Corporate Agents in Indian Life Insurance Industry: Slack-based Data Envelopment Analysis Approach," Global Business Review, International Management Institute, vol. 21(2), pages 490-506, April.
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    64. Mitchell Berlin, 2001. "\\"We control the vertical\\": three theories of the firm," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 13-22.
    65. Bilel Jarraya & Hatem Afi & Anis Omri, 2023. "Analyzing the Profitability and Efficiency in European Non-Life Insurance Industry," Methodology and Computing in Applied Probability, Springer, vol. 25(2), pages 1-25, June.
    66. Saowaros Yaisawarng & Preecha Asavadachanukorn & Suthathip Yaisawarng, 2014. "Efficiency and productivity in the Thai non-life insurance industry," Journal of Productivity Analysis, Springer, vol. 41(2), pages 291-306, April.
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    69. J. Cummins & Gregory Nini, 2002. "Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 15-53, February.
    70. Li‐Ying Huang & Yu‐Luen Ma & Nat Pope, 2012. "Foreign Ownership and Non‐Life Insurer Efficiency in the Japanese Marketplace," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 15(1), pages 57-88, March.
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Articles

  1. Hua Chen & Wen-Yen Hsu & Mary A. Weiss, 2015. "The Pension Option in Labor Insurance and Its Effect on Household Saving and Consumption: Evidence From Taiwan," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 82(4), pages 947-975, December.

    Cited by:

    1. Lei He & Shuyi Zhou & Zilan Liu, 2020. "How is aggregate household consumption affected jointly by longevity, pension, and aging? Theory and evidence," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(4), pages 499-512, December.
    2. Marco Magnani, 2020. "Precautionary retirement and precautionary saving," Journal of Economics, Springer, vol. 129(1), pages 49-77, January.
    3. Lei He & Shuyi Zhou & Zilan Liu, 0. "How is aggregate household consumption affected jointly by longevity, pension, and aging? Theory and evidence," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 0, pages 1-14.
    4. Tzu-Ting Yang, 2016. "The Effect of Workplace Pensions on Household Saving: Evidence from a Natural Experiment in Taiwan," IEAS Working Paper : academic research 16-A013, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    5. Margareta Vania Putri & Catur Sugiyanto, 2023. "The Retirement Consumption Puzzle Effect in Indonesia: Evidence from IFLS 4 and 5," Gadjah Mada Economics Working Paper Series 202303004, Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada.

  2. J David Cummins & Paul Klumpes & Mary A Weiss, 2015. "Mergers and Acquisitions in the Global Insurance Industry: Valuation Effects," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 40(3), pages 444-473, July.

    Cited by:

    1. Thomas Url, 2015. "Surge in Single Premium Payments Secured Stable Revenues for Private Insurance Business in 2014," WIFO Bulletin, WIFO, vol. 20(25), pages 282-291, December.
    2. Thomas Url, 2015. "Einmalerläge sichern der Privatversicherungswirtschaft 2014 stabiles Prämienaufkommen," WIFO Monatsberichte (monthly reports), WIFO, vol. 88(9), pages 695-705, September.
    3. Jin Lung Peng & Lih Ru Chen & Jennifer L. Wang & Larry Y. Tzeng, 2017. "Diversification Versus Strategic Focus: Evidence from Insurance Intermediaries in Taiwan," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(3), pages 530-555, July.
    4. Dionne, Georges & Fenou, Akouété & Mnasri, Mohamed, 2023. "Consolidation of the US property and casualty insurance industry: Is climate risk a causal factor for mergers and acquisitions?," Working Papers 23-1, HEC Montreal, Canada Research Chair in Risk Management.
    5. Cummins, J. David & Rubio-Misas, María & Vencappa, Dev, 2017. "Competition, efficiency and soundness in European life insurance markets," Journal of Financial Stability, Elsevier, vol. 28(C), pages 66-78.
    6. Chiaramonte, Laura & Dreassi, Alberto & Piserà, Stefano & Khan, Ashraf, 2023. "Mergers and acquisitions in the financial industry: A bibliometric review and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).

  3. J. David Cummins & Mary A. Weiss, 2014. "Systemic Risk and The U.S. Insurance Sector," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 81(3), pages 489-528, September.
    See citations under working paper version above.
  4. Hua Chen & J. David Cummins & Krupa S. Viswanathan & Mary A. Weiss, 2014. "Systemic Risk and the Interconnectedness Between Banks and Insurers: An Econometric Analysis," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 81(3), pages 623-652, September.

    Cited by:

    1. Eling, Martin & Pankoke, David, 2012. "Systemic Risk in the Insurance Sector – What Do We Know?," Working Papers on Finance 1222, University of St. Gallen, School of Finance.
    2. Chang, Carolyn W. & Li, Xiaodan & Lin, Edward M.H. & Yu, Min-Teh, 2018. "Systemic risk, interconnectedness, and non-core activities in Taiwan insurance industry," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 273-284.
    3. P. Giudici & A. Spelta, 2016. "Graphical Network Models for International Financial Flows," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 34(1), pages 128-138, January.
    4. Fenghua Wen & Jihong Xiao & Chuangxia Huang & Xiaohua Xia, 2018. "Interaction between oil and US dollar exchange rate: nonlinear causality, time-varying influence and structural breaks in volatility," Applied Economics, Taylor & Francis Journals, vol. 50(3), pages 319-334, January.
    5. Philippe Deprez & Mario V. Wüthrich, 2016. "Macroprudential Insurance Regulation: A Swiss Case Study," Risks, MDPI, vol. 4(4), pages 1-30, December.
    6. J. David Cummins & Mary A. Weiss, 2013. "Systemic Risk and Regulation of the U.S. Insurance Industry," NFI Policy Briefs 2013-PB-02, Indiana State University, Scott College of Business, Networks Financial Institute.
    7. Bierth, Christopher & Irresberger, Felix & Weiß, Gregor N.F., 2015. "Systemic risk of insurers around the globe," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 232-245.
    8. Zhang, Ping & Yin, Shiqi & Sha, Yezhou, 2023. "Global systemic risk dynamic network connectedness during the COVID-19: Evidence from nonlinear Granger causality," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 85(C).
    9. Ilham Haouas & Naceur Kheraief & Arusha Cooray & Syed Jawad Hussain Shahzad, 2019. "Time-Varying Casual Nexuses Between Remittances and Financial Development in Some MENA Countries," Working Papers 1294, Economic Research Forum, revised 2019.
    10. Felix Irresberger & Christopher Bierth & Gregor N.F. Weiß, 2017. "Size is everything: Explaining SIFI designations," Review of Financial Economics, John Wiley & Sons, vol. 32(1), pages 7-19, January.
    11. Christian Thimann, 2014. "How Insurers Differ from Banks: A Primer on Systemic Regulation," Working Papers halshs-01074933, HAL.
    12. Christian Biener & Martin Eling & Shailee Pradhan, 2015. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 18(1), pages 129-141, March.
    13. Kubitza, Christian & Regele, Fabian, 2017. "Persistence of insurance activities and financial stability," ICIR Working Paper Series 30/17, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    14. Anna Paulson & Richard Rosen, 2016. "The Life Insurance Industry and Systemic Risk: A Bond Market Perspective," Annual Review of Financial Economics, Annual Reviews, vol. 8(1), pages 155-174, October.
    15. Akcay, Mustafa & Elyasiani, Elyas, 2021. "The link between the federal funds rate and banking system distress: An empirical investigation," Journal of Macroeconomics, Elsevier, vol. 67(C).
    16. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    17. Mühlnickel, Janina & Weiß, Gregor N.F., 2015. "Consolidation and systemic risk in the international insurance industry," Journal of Financial Stability, Elsevier, vol. 18(C), pages 187-202.
    18. Pourkhanali, Armin & Kim, Jong-Min & Tafakori, Laleh & Fard, Farzad Alavi, 2016. "Measuring systemic risk using vine-copula," Economic Modelling, Elsevier, vol. 53(C), pages 63-74.
    19. Felix Irresberger & Fee Elisabeth König & Gregor N. F. Weiß, 2017. "Crisis Sentiment in the U.S. Insurance Sector," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(4), pages 1295-1330, December.
    20. Pierre-Emmanuel Darpeix, 2015. "Systemic risk and insurance," Working Papers halshs-01227969, HAL.
    21. Marion Dupire & Christian Haddad & Regine Slagmulder, 2022. "The Importance of Board Risk Oversight in Times of Crisis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(3), pages 319-365, June.
    22. Irresberger, Felix & Bierth, Christopher & Weiß, Gregor N.F., 2017. "Size is everything: Explaining SIFI designations," Review of Financial Economics, Elsevier, vol. 32(C), pages 7-19.
    23. Ghulam, Yaseen & Doering, Jana, 2018. "Spillover effects among financial institutions within Germany and the United Kingdom," Research in International Business and Finance, Elsevier, vol. 44(C), pages 49-63.
    24. Kanno, Masayasu, 2016. "The network structure and systemic risk in the global non-life insurance market," Insurance: Mathematics and Economics, Elsevier, vol. 67(C), pages 38-53.
    25. Düll, Robert & König, Felix & Ohls, Jana, 2017. "On the exposure of insurance companies to sovereign risk—Portfolio investments and market forces," Journal of Financial Stability, Elsevier, vol. 31(C), pages 93-106.
    26. Guoxiang Xu & Wangfeng Gao, 2019. "Financial Risk Contagion in Stock Markets: Causality and Measurement Aspects," Sustainability, MDPI, vol. 11(5), pages 1-20, March.
    27. Dungey, Mardi & Harvey, John & Volkov, Vladimir, 2017. "The changing international network of sovereign debt and financial institutions," Working Papers 2017-04, University of Tasmania, Tasmanian School of Business and Economics.
    28. Diallo, Boubacar & Al-Mansour, Abdullah, 2017. "Shadow banking, insurance and financial sector stability," Research in International Business and Finance, Elsevier, vol. 42(C), pages 224-232.
    29. Elia Berdin & Matteo Sottocornola, 2015. "Assessing Systemic Risk of the European Insurance Industry," EIOPA Financial Stability Report - Thematic Articles 6, EIOPA, Risks and Financial Stability Department.
    30. O. de Bandt & J.-C. Héam & C. Labonne & S. Tavolaro, 2013. "Measuring Systemic Risk in a Post-Crisis World," Débats économiques et financiers 6, Banque de France.
    31. Martin Eling & David Antonius Pankoke, 2016. "Systemic Risk in the Insurance Sector: A Review and Directions for Future Research," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 19(2), pages 249-284, September.
    32. Vaclav Broz & Evzen Kocenda, 2019. "Mortgage-Related Bank Penalties and Systemic Risk Among U.S. Banks," Working Papers IES 2019/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Sep 2019.
    33. M. Bernardi & L. Petrella, 2014. "Interconnected risk contributions: an heavy-tail approach to analyse US financial sectors," Papers 1401.6408, arXiv.org, revised Apr 2014.
    34. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2015. "Zukunftsfähigkeit in den Mittelpunkt. Jahresgutachten 2015/16 [Focus on Future Viability. Annual Report 2015/16]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201516.
    35. Berdin, Elia & Sottocornola, Matteo, 2015. "Insurance activities and systemic risk," SAFE Working Paper Series 121, Leibniz Institute for Financial Research SAFE.
    36. Ivan Alves & Jeroen Brinkhoff & Stanislav Georgiev & Jean-Cyprien Héam & Iulia Moldovan & Marco Scotto di Carlo, 2015. "Network analysis of the EU insurance sector," ESRB Occasional Paper Series 07, European Systemic Risk Board.
    37. Alberto Dreassi & Stefano Miani & Andrea Paltrinieri & Alex Sclip, 2018. "Bank-Insurance Risk Spillovers: Evidence from Europe," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(1), pages 72-96, January.
    38. Cincinelli, Peter & Pellini, Elisabetta & Urga, Giovanni, 2022. "Systemic risk in the Chinese financial system: A panel Granger causality analysis," International Review of Financial Analysis, Elsevier, vol. 82(C).
    39. Stan Hurn & Peter C. B. Phillips & Shu-Ping Shi, 2016. ""Change Detection and the Causal Impact of the Yield Curve," Cowles Foundation Discussion Papers 2058, Cowles Foundation for Research in Economics, Yale University.
    40. Franch, Fabio & Nocciola, Luca & Vouldis, Angelos, 2022. "Temporal networks in the analysis of financial contagion," Working Paper Series 2667, European Central Bank.
    41. Pankoke, David, 2014. "Sophisticated vs. Simple Systemic Risk Measures," Working Papers on Finance 1422, University of St. Gallen, School of Finance.
    42. Martin Eling & Ruo Jia, 2017. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2014 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 20(1), pages 63-77, March.
    43. Brechmann, Eike C. & Hendrich, Katharina & Czado, Claudia, 2013. "Conditional copula simulation for systemic risk stress testing," Insurance: Mathematics and Economics, Elsevier, vol. 53(3), pages 722-732.
    44. Vergote, Olivier, 2016. "Credit risk spillover between financials and sovereigns in the euro area during 2007-2015," Working Paper Series 1898, European Central Bank.
    45. Lee, Chien-Chiang & Lin, Chun-Wei & Zeng, Jhih-Hong, 2016. "Financial liberalization, insurance market, and the likelihood of financial crises," Journal of International Money and Finance, Elsevier, vol. 62(C), pages 25-51.
    46. Kubitza, Christian & Gründl, Helmut, 2016. "Systemic risk: Time-lags and persistence," ICIR Working Paper Series 20/16, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    47. Denkowska Anna & Wanat Stanisław, 2021. "A dynamic MST-deltaCoVaR model of systemic risk in the European insurance sector," Statistics in Transition New Series, Polish Statistical Association, vol. 22(2), pages 173-188, June.
    48. Anna Denkowska & Stanisław Wanat, 2020. "A Tail Dependence-Based MST and Their Topological Indicators in Modeling Systemic Risk in the European Insurance Sector," Risks, MDPI, vol. 8(2), pages 1-22, April.
    49. Greg Niehaus & Jannes Rauch & Sabine Wende, 2019. "Regulation and the connectedness of insurers to the banking sector: International evidence," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(4), pages 393-420, December.
    50. Berdin, Elia & Sottocornolay, Matteo, 2015. "Insurance activities and systemic risk," ICIR Working Paper Series 19/15, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    51. Anna Denkowska & Stanis{l}aw Wanat, 2019. "Linkages and systemic risk in the European insurance sector: Some new evidence based on dynamic spanning trees," Papers 1908.01142, arXiv.org, revised Aug 2019.
    52. Mathias Mandla Manguzvane & Sibusiso Blessing Ngobese, 2023. "A Component Expected Shortfall Approach to Systemic Risk: An Application in the South African Financial Industry," IJFS, MDPI, vol. 11(4), pages 1-14, December.
    53. Weiß, Gregor N.F. & Mühlnickel, Janina, 2014. "Why do some insurers become systemically relevant?," Journal of Financial Stability, Elsevier, vol. 13(C), pages 95-117.
    54. Irresberger, Felix & Weiß, Gregor N.F. & Gabrysch, Janet & Gabrysch, Sandra, 2018. "Liquidity tail risk and credit default swap spreads," European Journal of Operational Research, Elsevier, vol. 269(3), pages 1137-1153.
    55. Pierre-Emmanuel Darpeix, 2015. "Systemic risk and insurance," PSE Working Papers halshs-01227969, HAL.
    56. Yu-Sin Chang, 2018. "Systemic Risk and the Dependence Structures," Papers 1809.03425, arXiv.org.
    57. Niedrig, Tobias, 2015. "Optimal asset allocation for interconnected life insurers in the low interest rate environment under solvency regulation," SAFE Working Paper Series 97, Leibniz Institute for Financial Research SAFE.
    58. Grochola, Nicolaus & Browne, Mark Joseph & Gründl, Helmut & Schlütter, Sebastian, 2021. "Exploring the market risk profiles of U.S. and European life insurers," ICIR Working Paper Series 39/21, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    59. Mardi Dungey & Eric Renault, 2018. "Identifying contagion," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 33(2), pages 227-250, March.
    60. Kleinow, Jacob & Moreira, Fernando & Strobl, Sascha & Vähämaa, Sami, 2017. "Measuring systemic risk: A comparison of alternative market-based approaches," Finance Research Letters, Elsevier, vol. 21(C), pages 40-46.
    61. Tristan Jourde, 2022. "The rising interconnectedness of the insurance sector," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(2), pages 397-425, June.
    62. Lorenzo Danieli & Petr Jakubik, 2018. "Early warning system for the European Insurance Sector," EIOPA Financial Stability Report - Thematic Articles 13, EIOPA, Risks and Financial Stability Department.
    63. Zhu, Bo & Lin, Renda & Liu, Jiahao, 2020. "Magnitude and persistence of extreme risk spillovers in the global energy market: A high-dimensional left-tail interdependence perspective," Energy Economics, Elsevier, vol. 89(C).
    64. Eckert, Christian & Gatzert, Nadine & Heidinger, Dinah, 2020. "Empirically assessing and modeling spillover effects from operational risk events in the insurance industry," Insurance: Mathematics and Economics, Elsevier, vol. 93(C), pages 72-83.
    65. Wenying Yao & Mardi Dungey & Vitali Alexeev, 2020. "Modelling Financial Contagion Using High Frequency Data," The Economic Record, The Economic Society of Australia, vol. 96(314), pages 314-330, September.
    66. Regele, Fabian & Gründl, Helmut, 2021. "Asset concentration risk and insurance solvency regulation," ICIR Working Paper Series 40/21, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).
    67. Paola Cerchiello & Paolo Giudici, 2014. "Conditional graphical models for systemic risk measurement," DEM Working Papers Series 087, University of Pavia, Department of Economics and Management.
    68. Chia‐Chun Chiang & Greg Niehaus, 2020. "Correlated Trading by Life Insurers and Its Impact on Bond Prices," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(3), pages 597-625, September.
    69. Chen, Pei-Fen & Lin, Chun-Wei & Lee, Chien-Chiang, 2019. "Financial crises, globalization, and insurer performance: Some international evidence," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 835-856.
    70. Reichel, Lukas & Schmeiser, Hato & Schreiber, Florian, 2021. "Sometimes more, sometimes less: Prudence and the diversification of risky insurance coverage," European Journal of Operational Research, Elsevier, vol. 292(2), pages 770-783.

  5. Piotr Manikowski & Mary A Weiss, 2013. "The Satellite Insurance Market and Underwriting Cycles," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 38(2), pages 148-182, September.

    Cited by:

    1. Christian Biener & Martin Eling & Shailee Pradhan, 2015. "Recent Research Developments Affecting Nonlife Insurance—The CAS Risk Premium Project 2013 Update," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 18(1), pages 129-141, March.

  6. Jiang Cheng & Mary A Weiss, 2013. "Risk-Based Capital and Firm Risk Taking in Property-Liability Insurance," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 38(2), pages 274-307, April.

    Cited by:

    1. Cynthia Van Hulle & Hans Degryse & Kristien Smedts, 2017. "Risk-sharing benefits and the capital structure of insurance companies," Working Papers Department of Accountancy, Finance and Insurance (AFI), Leuven 571404, KU Leuven, Faculty of Economics and Business (FEB), Department of Accountancy, Finance and Insurance (AFI), Leuven.
    2. Liu, Shuyan & Jia, Ruo & Zhao, Yulong & Sun, Qixiang, 2019. "Global consistent or market-oriented? A quantitative assessment of RBC standards, solvency II, and C-ROSS," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
    3. Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2021. "Group firms’ access to internal capital markets: The contingent roles of group resources and affiliates’ financial weakness," Economic Modelling, Elsevier, vol. 96(C), pages 135-156.
    4. Ching-Yuan Hsiao & Yung-Ming Shiu, 2019. "The effects of business mix on internal and external reinsurance usage," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(4), pages 624-652, October.
    5. Chen-Ying Lee, 2020. "The Impact of Product Diversification on Risk-taking Behavior in Property and Liability Insurance Firms," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(3), pages 1-9.
    6. Rubio-Misas, María, 2020. "Ownership structure and financial stability: Evidence from Takaful and conventional insurance firms," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
    7. Nora Gavira-Durón & Daniel Mayorga-Serna & Alberto Bagatella-Osorio, 2022. "The financial impact of the implementation of Solvency II on the Mexican insurance sector," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(2), pages 349-374, April.
    8. Ignacio Moreno & Purificación Parrado‐Martínez & Antonio Trujillo‐Ponce, 2020. "Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 2965-2994, September.

  7. Jiang Cheng & Mary A. Weiss, 2012. "Capital Structure in the Property-Liability Insurance Industry: Tests of the Tradeoff and Pecking Order Theories," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 35(1), pages 1-43.

    Cited by:

    1. Fier, Stephen G. & McCullough, Kathleen A. & Carson, James M., 2013. "Internal capital markets and the partial adjustment of leverage," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 1029-1039.
    2. Chia-Ling Ho & Gene Lai & Sangyong Han & Licheng Jin, 2022. "Organisational structure, corporate governance and reinsurance decisions in the U.S. property-liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 737-784, October.
    3. Muhammed Altuntas & James Garven & Jannes Rauch, 2018. "On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 211-242, September.
    4. Hsiao, Ching-Yuan & Shiu, Yung-Ming, 2021. "Group firms’ access to internal capital markets: The contingent roles of group resources and affiliates’ financial weakness," Economic Modelling, Elsevier, vol. 96(C), pages 135-156.
    5. Hung, Jessica & Chang, Vincent Y. L., 2018. "The analysis of capital structure for propertyliability insurers: A quantile regression approach," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(4), pages 829-850, August.
    6. Altuntas, Muhammed & Berry-Stölzle, Thomas R. & Wende, Sabine, 2015. "Does one size fit all? Determinants of insurer capital structure around the globe," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 251-271.
    7. Thomas R. Berry-Stölzle & Meghan Irene Esson, 2024. "Capital issuances and premium growth in the property–liability insurance industry: evidence from the financial crisis and COVID-19 recession," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 49(1), pages 1-25, January.
    8. Ning Wang & Yiling Deng, 2016. "Market responses to loss shocks and insurers' post-catastrophe performance in the US property-casualty insurance market," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 11(3), pages 231-246.
    9. Catherine Bruneau & Nadia Sghaier, 2014. "Cyclicity in the French Property," Working Papers 2014-47, Department of Research, Ipag Business School.
    10. Vincent Y. Chang, 2019. "Does reinsurance purchasing enhance insurers’ competitiveness? Evidence from the U.S. property–liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(4), pages 595-623, October.

  8. Jiang Cheng & Mary A. Weiss, 2012. "The Role of RBC, Hurricane Exposure, Bond Portfolio Duration, and Macroeconomic and Industry-wide Factors in Property–Liability Insolvency Prediction," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 79(3), pages 723-750, September.
    See citations under working paper version above.
  9. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.

    Cited by:

    1. Dafydd Mali & Hyoung-Joo Lim, 2022. "Does relative (absolute) efficiency affect capital costs?," Annals of Operations Research, Springer, vol. 315(2), pages 1037-1060, August.
    2. Xun Liu & Xiaoliang Yu & Simon Gao, 2019. "A quantitative study of financing efficiency of low‐carbon companies: A three‐stage data envelopment analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 28(5), pages 858-871, July.
    3. Alfred A. Haug & Vincent C. Blackburn, 2013. "Efficiency Aspects of Government Secondary School Finances in New South Wales: Results from a Two-Stage Double-Bootstrap DEA at the School Level," Working Papers 1316, University of Otago, Department of Economics, revised Nov 2013.
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    41. Al-Amri, Khalid & David Cummins, J. & Weiss, Mary A., 2021. "Economies of scope, organizational form, and insolvency risk: Evidence from the takaful industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    42. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    43. Amelia Bilbao-Terol & Mar Arenas-Parra & Raquel Quiroga-García & Celia Bilbao-Terol, 2022. "An extended best–worst multiple reference point method: application in the assessment of non-life insurance companies," Operational Research, Springer, vol. 22(5), pages 5323-5362, November.
    44. Barry Sheehan & Christian Humberg & Darren Shannon & Michael Fortmann & Stefan Materne, 2023. "Diversification and Solvency II: the capital effect of portfolio swaps on non-life insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(4), pages 872-905, October.
    45. Qiao-Ming Lim & Hui-Shan Lee & Wai-Mun Har, 2021. "Efficiency, productivity and competitiveness of the Malaysian insurance sector: an analysis of risk-based capital regulation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(1), pages 146-172, January.
    46. Dafydd Mali & Hyoung‐joo Lim, 2021. "Do Relatively More Efficient Firms Demand Additional Audit Effort (Hours)?," Australian Accounting Review, CPA Australia, vol. 31(2), pages 108-127, June.
    47. Shoaib Alam Siddiqui & Ali Shaddady, 2023. "How Profit Efficient is Indian Life Insurance Industry: A DEA Study," SAGE Open, , vol. 13(4), pages 21582440231, December.
    48. Jaap Bikker & Adelina Popescu, 2014. "Efficiency and competition in the Dutch non-life insurance industry: Effects of the 2006 health care reform," Working Papers 14-12, Utrecht School of Economics.
    49. Muhammad Jam e Kausar Ali Asghar & Abdul Zahid Khan & Hafiz Ghufran Ali Khan, 2018. "Takaful, Insurer type and Efficiency: An Application of Parametric Approach," Global Regional Review, Humanity Only, vol. 3(1), pages 234-252, June.
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    52. Tone, Kaoru & Kweh, Qian Long & Lu, Wen-Min & Ting, Irene Wei Kiong, 2019. "Modeling investments in the dynamic network performance of insurance companies," Omega, Elsevier, vol. 88(C), pages 237-247.
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    55. Agostino, Mariarosaria & Nifo, Annamaria & Trivieri, Francesco & Vecchione, Gaetano, 2016. "Total factor productivity heterogeneity: channelling the impact of institutions," MPRA Paper 72759, University Library of Munich, Germany.
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    59. Jeungbo Shim, 2011. "Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(3), pages 119-144, June.
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    68. Simar, Léopold & Wilson, Paul W., 2020. "Technical, allocative and overall efficiency: Estimation and inference," European Journal of Operational Research, Elsevier, vol. 282(3), pages 1164-1176.
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  10. Mary A. Weiss & Sharon Tennyson & Laureen Regan, 2010. "The Effects of Regulated Premium Subsidies on Insurance Costs: An Empirical Analysis of Automobile Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 597-624, September.

    Cited by:

    1. Lee, Chien-Chiang & Lin, Chun-Wei, 2016. "Globalization, political institutions, financial liberalization, and performance of the insurance industry," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 244-266.
    2. Dominique-Ferreira, Sérgio, 2017. "How important is the strategic order of product attribute presentation in the non-life insurance market?," Journal of Retailing and Consumer Services, Elsevier, vol. 34(C), pages 138-144.
    3. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    4. Georges Dionne & Kili Wang, 2013. "Does insurance fraud in automobile theft insurance fluctuate with the business cycle?," Journal of Risk and Uncertainty, Springer, vol. 47(1), pages 67-92, August.
    5. Biener, Christian & Eling, Martin & Schmit, Joan T., 2014. "Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development," World Development, Elsevier, vol. 58(C), pages 21-40.
    6. Thomas Dudek & Eric R. Ulm & Ilan Noy, 2021. "Demand for Multi-Year Catastrophe Insurance Contracts: Experimental Evidence for Mitigating the Insurance Gap," CESifo Working Paper Series 9442, CESifo.
    7. Yarmukhamedov, Sherzod, 2013. "Empirical analysis of moral hazard: a study of a vehicle insurance tax reform," Working papers in Transport Economics 2013:14, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    8. Georges Dionnne & Pierre-Carl Michaud & Jean Pinquet, 2012. "A Review of Recent Theoretical and Empirical Analyses of Asymmetric Information in Road Safety and Automobile Insurance," Cahiers de recherche 1204, CIRPEE.
    9. Georges Dionne & Kili C. Wang, 2011. "Does Opportunistic Fraud in Automobile theft Insurance Fluctuate with the Business Cycle ?," Cahiers de recherche 1121, CIRPEE.
    10. Martin Eling & David Pankoke, 2016. "Costs and Benefits of Financial Regulation: An Empirical Assessment for Insurance Companies," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(4), pages 529-554, October.
    11. Hui Shan Lee & Shyue Chuan Chong & Shen Yap & Bik Kai Sia & Ying Xi Chen, 2021. "Does Economic Freedom in Host Countries Lead to Increased Non-Life Insurance Development?," SAGE Open, , vol. 11(4), pages 21582440211, October.
    12. Joshua D. Woodard & Jing Yi, 2020. "Estimation of Insurance Deductible Demand Under Endogenous Premium Rates," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(2), pages 477-500, June.
    13. James M. Carson & Kathleen A. McCullough & David M. Pooser, 2013. "Deciding Whether to Invest in Mitigation Measures: Evidence From Florida," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 309-327, June.
    14. Sharon Tennyson, 2010. "Rethinking Consumer Protection Regulation in Insurance Markets," NFI Policy Briefs 2010-PB-07, Indiana State University, Scott College of Business, Networks Financial Institute.
    15. Mauricio Cáceres & Kenneth P. Jameson, 2015. "The effects on insurance costs of restricting undocumented immigrants' access to driver licenses," Southern Economic Journal, John Wiley & Sons, vol. 81(4), pages 907-927, April.
    16. Yu Yan & Michael Faure, 2021. "Government interventions in microinsurance: evidence from China," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 440-467, July.
    17. Levon Barseghyan & Francesca Molinari & Darcy Steeg Morris & Joshua C. Teitelbaum, 2020. "The Cost of Legal Restrictions on Experience Rating," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 17(1), pages 38-70, March.
    18. Sharon Tennyson, 2010. "Incentive Effects of Community Rating in Insurance Markets: Evidence from Massachusetts Automobile Insurance," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 35(1), pages 19-46, June.
    19. Schlütter, Sebastian, 2011. "Capital requirements or pricing constraints? An economic analysis of measures for insurance regulation," ICIR Working Paper Series 03/11, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR).

  11. J. David Cummins & Mary A. Weiss, 2009. "Convergence of Insurance and Financial Markets: Hybrid and Securitized Risk‐Transfer Solutions," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(3), pages 493-545, September.

    Cited by:

    1. Eling, Martin & Pankoke, David, 2012. "Systemic Risk in the Insurance Sector – What Do We Know?," Working Papers on Finance 1222, University of St. Gallen, School of Finance.
    2. Dionne, Georges & Desjardins, Denise, 2022. "A re-examination of the U.S. insurance market’s capacity to pay catastrophe losses," Working Papers 22-2, HEC Montreal, Canada Research Chair in Risk Management.
    3. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2008. "The Costs and Benefits of Reinsurance," Cahiers de recherche 08-04, HEC Montréal, Institut d'économie appliquée.
    4. Beer, Simone & Braun, Alexander & Marugg, Andrin, 2019. "Pricing industry loss warranties in a Lévy–Frailty framework," Insurance: Mathematics and Economics, Elsevier, vol. 89(C), pages 171-181.
    5. Simplice Anutechia Asongu, 2014. "Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa," AAYE Policy Research Working Paper Series 14_016, Association of African Young Economists, revised Sep 2014.
    6. Galeotti, Marcello & Gürtler, Marc & Winkelvos, Christine, 2009. "Accuracy of premium calculation models for CAT bonds: An empirical analysis," Working Papers IF29V4, Technische Universität Braunschweig, Institute of Finance.
    7. Massimo Mariani & Paola Amoruso, 2016. "The Effectiveness of Catastrophe Bonds in Portfolio Diversification," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1760-1767.
    8. Götze, Tobias & Gürtler, Marc, 2020. "Risk transfer and moral hazard: An examination on the market for insurance-linked securities," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 758-777.
    9. Ben Ammar, Semir & Eling, Martin & Milidonis, Andreas, 2015. "Asset Pricing of Financial Insitutions: The Cross-Section of Expected Stock Returns in the Property/Liability Insurance Industry," Working Papers on Finance 1516, University of St. Gallen, School of Finance.
    10. Götze, Tobias & Gürtler, Marc, 2020. "Hard markets, hard times: On the inefficiency of the CAT bond market," Journal of Corporate Finance, Elsevier, vol. 62(C).
    11. Villegas, Andrés M. & Medaglia, Andrés L. & Zuluaga, Luis F., 2012. "Computing bounds on the expected payoff of Alternative Risk Transfer products," Insurance: Mathematics and Economics, Elsevier, vol. 51(2), pages 271-281.
    12. Pauline BARRIEU & Henri LOUBERGE, 2011. "Reinsurance and securitisation of life insurance risk: the impact of regulatory constraints," Swiss Finance Institute Research Paper Series 11-57, Swiss Finance Institute.
    13. Daniel KOMADEL & Ludovit PINDA & Katarina SAKALOVA, 2018. "Securitization in crop insurance with soil classification," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(3), pages 131-140.
    14. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    15. Constantin Laura-Gabriela & Cernat-Gruici Bogdan & Iamandi Irina-Eugenia, 2014. "Investigating Financial Innovation And European Capital Markets. The Case Of Catastrophe Bonds And Listed Reinsurance Companies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 6-15, December.
    16. Gheorghe MOROÅžAN, 2015. "INTEGRATION OF ROMANIAN INSURANCES MARKET IN EU Abstract : One of the most important phenomena of the last decade has been the convergence of the financial services industry, especially the capital an," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 4(Special I), pages 1-35, august.
    17. Qi-Wen Wang & Jian-Jun Shu, 2017. "Financial option insurance," Papers 1708.02180, arXiv.org.
    18. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    19. Elyas Elyasiani & Elena Kalotychou & Sotiris Staikouras & Gang Zhao, 2015. "Return and Volatility Spillover among Banks and Insurers: Evidence from Pre-Crisis and Crisis Periods," Journal of Financial Services Research, Springer;Western Finance Association, vol. 48(1), pages 21-52, August.
    20. Tobias Götze & Marc Gürtler & Eileen Witowski, 2020. "Improving CAT bond pricing models via machine learning," Journal of Asset Management, Palgrave Macmillan, vol. 21(5), pages 428-446, September.
    21. Giuricich, Mario Nicoló & Burnecki, Krzysztof, 2019. "Modelling of left-truncated heavy-tailed data with application to catastrophe bond pricing," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 525(C), pages 498-513.
    22. Jakob Eberl & Darko Jus, 2012. "Evaluating policies to attain the optimal exposure to nuclear risk," RSCAS Working Papers 2012/50, European University Institute.
    23. Eckhard Platen & David Taylor, 2016. "Loading Pricing of Catastrophe Bonds and Other Long-Dated, Insurance-Type Contracts," Research Paper Series 379, Quantitative Finance Research Centre, University of Technology, Sydney.
    24. Peter Carayannopoulos & Olga Kanj & M. Fabricio Perez, 2022. "Pricing dynamics in the market for catastrophe bonds," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(1), pages 172-202, January.
    25. Pierre-Emmanuel Darpeix, 2015. "Systemic risk and insurance," Working Papers halshs-01227969, HAL.
    26. Faias, José Afonso & Guedes, José, 2020. "The diffusion of complex securities: The case of CAT bonds," Insurance: Mathematics and Economics, Elsevier, vol. 90(C), pages 46-57.
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    28. Burnecki, Krzysztof & Giuricich, Mario Nicoló & Palmowski, Zbigniew, 2019. "Valuation of contingent convertible catastrophe bonds — The case for equity conversion," Insurance: Mathematics and Economics, Elsevier, vol. 88(C), pages 238-254.
    29. Lemoyne de Forges, Sabine & Bibas, Ruben & Hallegatte, Stephane, 2011. "A dynamic model of extreme risk coverage : resilience and efficiency in the global reinsurance market," Policy Research Working Paper Series 5807, The World Bank.
    30. Ma Jiyue & Huang Fei & Bruhn Aaron, 2021. "Estimating China’s Future Life Insurance Market," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 15(1), pages 1-16, January.
    31. Patricia H. Born & Barbara Klimaszewski-Blettner, 2013. "Should I Stay or Should I Go? The Impact of Natural Disasters and Regulation on U.S. Property Insurers’ Supply Decisions," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(1), pages 1-36, March.
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    34. Gürtler, M. & Hibbeln, M. & Winkelvos, C., 2012. "The impact of the financial crisis and natural catastrophes on CAT bonds," Working Papers IF40V1, Technische Universität Braunschweig, Institute of Finance.
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    49. Gatzert, Nadine & Kellner, Ralf, 2011. "The influence of non-linear dependencies on the basis risk of industry loss warranties," Insurance: Mathematics and Economics, Elsevier, vol. 49(1), pages 132-144, July.
    50. Zhao, Yang & Yu, Min-Teh, 2020. "Predicting catastrophe risk: Evidence from catastrophe bond markets," Journal of Banking & Finance, Elsevier, vol. 121(C).
    51. Benjamin L. Collier, 2020. "Strengthening Local Credit Markets Through Lender‐Level Index Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(2), pages 319-349, June.
    52. Sandrine Spaeter, 2021. "How to Reconcile Pandemic Business Interruption Risk With Insurance Coverage," Working Papers of BETA 2021-18, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    53. Dixon Domfeh & Arpita Chatterjee & Matthew Dixon, 2022. "A Unified Bayesian Framework for Pricing Catastrophe Bond Derivatives," Papers 2205.04520, arXiv.org.
    54. David L. Dicks & James R. Garven, 2022. "Asymmetric information and insurance cycles," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 89(2), pages 449-474, June.
    55. Wu, Yang-Che, 2020. "Equilibrium in natural catastrophe insurance market under disaster-resistant technologies, financial innovations and government interventions," Insurance: Mathematics and Economics, Elsevier, vol. 95(C), pages 116-128.
    56. Biener, Christian & Eling, Martin & Jia, Ruo, 2017. "The structure of the global reinsurance market: An analysis of efficiency, scale, and scope," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 213-229.
    57. Lai, Van Son & Parcollet, Mathieu & Lamond, Bernard F., 2014. "The valuation of catastrophe bonds with exposure to currency exchange risk," International Review of Financial Analysis, Elsevier, vol. 33(C), pages 243-252.
    58. Riza Andrian Ibrahim & Sukono & Herlina Napitupulu & Rose Irnawaty Ibrahim, 2024. "Earthquake Bond Pricing Model Involving the Inconstant Event Intensity and Maximum Strength," Mathematics, MDPI, vol. 12(6), pages 1-21, March.
    59. Zhu, Wenge, 2011. "Ambiguity aversion and an intertemporal equilibrium model of catastrophe-linked securities pricing," Insurance: Mathematics and Economics, Elsevier, vol. 49(1), pages 38-46, July.
    60. Wolfgang Härdle & Brenda López Cabrera, 2007. "Calibrating CAT bonds for Mexican earthquakes," SFB 649 Discussion Papers SFB649DP2007-037, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    61. Jing Ai & Patrick L. Brockett & Tianyang Wang, 2017. "Optimal Enterprise Risk Management and Decision Making With Shared and Dependent Risks," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(4), pages 1127-1169, December.
    62. Simplice A, Asongu, 2012. "African Financial Development Dynamics: Big Time Convergence," MPRA Paper 36053, University Library of Munich, Germany.
    63. Bonnie G. Buchanan, 2016. "Securitization: A Financing Vehicle for All Seasons?," Journal of Business Ethics, Springer, vol. 138(3), pages 559-577, October.
    64. Denis-Alexandre Trottier & Van Son Lai, 2017. "Reinsurance or CAT Bond? How to Optimally Combine Both," Working Papers 2017-003, Department of Research, Ipag Business School.
    65. Rui Figueiredo & Mario L.V. Martina & David B. Stephenson & Benjamin D. Youngman, 2018. "A Probabilistic Paradigm for the Parametric Insurance of Natural Hazards," Risk Analysis, John Wiley & Sons, vol. 38(11), pages 2400-2414, November.
    66. Pierre-Emmanuel Darpeix, 2015. "Systemic risk and insurance," PSE Working Papers halshs-01227969, HAL.
    67. Laura-Gabriela CONSTANTIN, 2014. "Catastrophe Bonds. From Structure to Strategy – A Cluster Analysis at European Level," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 17(2), pages 304-317, December.
    68. Jing Liu & Huan Zhang, 2017. "Asymptotic Estimates for the One-Year Ruin Probability under Risky Investments," Risks, MDPI, vol. 5(2), pages 1-11, May.
    69. Ben Ammar, Semir, 2016. "Pricing of Catastrophe Risk and the Implied Volatility Smile," Working Papers on Finance 1617, University of St. Gallen, School of Finance.
    70. Hagendorff, Bjoern & Hagendorff, Jens & Keasey, Kevin & Gonzalez, Angelica, 2014. "The risk implications of insurance securitization: The case of catastrophe bonds," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 387-402.
    71. Apostolos Kiohos & Maria Paspati, 2021. "Alternative to Insurance Risk Transfer: Creating a catastrophe bond for Romanian earthquakes," Bulletin of Applied Economics, Risk Market Journals, vol. 8(1), pages 1-17.
    72. Beaulieu, Marie-Claude & Dufour, Jean-Marie & Khalaf, Lynda & Melin, Olena, 2023. "Identification-robust beta pricing, spanning, mimicking portfolios, and the benchmark neutrality of catastrophe bonds," Journal of Econometrics, Elsevier, vol. 236(1).
    73. Monika Wieczorek-Kosmala, 2019. "The Concept of Risk Capital and Its Application in Non-Financial Companies: A Sustainable Dimension," Sustainability, MDPI, vol. 11(3), pages 1-20, February.
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    83. Marc Gürtler & Martin Hibbeln & Christine Winkelvos, 2016. "The Impact of the Financial Crisis and Natural Catastrophes on CAT Bonds," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(3), pages 579-612, September.
    84. Marcello Galeotti & Marc Gürtler & Christine Winkelvos, 2013. "Accuracy of Premium Calculation Models for CAT Bonds—An Empirical Analysis," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 401-421, June.
    85. Sukono & Riza Andrian Ibrahim & Moch Panji Agung Saputra & Yuyun Hidayat & Hafizan Juahir & Igif Gimin Prihanto & Nurfadhlina Binti Abdul Halim, 2022. "Modeling Multiple-Event Catastrophe Bond Prices Involving the Trigger Event Correlation, Interest, and Inflation Rates," Mathematics, MDPI, vol. 10(24), pages 1-18, December.
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  12. Mary A. Weiss & Joseph Qiu, 2008. "The Journal of Risk and Insurance: A 75‐Year Historical Perspective," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(2), pages 253-274, June.

    Cited by:

    1. Alicia Mas-Tur & Nikunja Mohan Modak & José M. Merigó & Norat Roig-Tierno & Massimiliano Geraci & Vittorio Capecchi, 2019. "Half a century of Quality & Quantity: a bibliometric review," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(2), pages 981-1020, March.
    2. Dionne, Georges, 2013. "Risk management: History, definition and critique," Working Papers 13-2, HEC Montreal, Canada Research Chair in Risk Management.
    3. Modak, Nikunja M. & Merigó, José M. & Weber, Richard & Manzor, Felipe & Ortúzar, Juan de Dios, 2019. "Fifty years of Transportation Research journals: A bibliometric overview," Transportation Research Part A: Policy and Practice, Elsevier, vol. 120(C), pages 188-223.
    4. Sigifredo Laengle & Nikunja Mohan Modak & Jose M. Merigo & Gustavo Zurita, 2018. "Twenty-Five Years of Group Decision and Negotiation: A Bibliometric Overview," Group Decision and Negotiation, Springer, vol. 27(4), pages 505-542, August.

  13. Weiss, Mary A. & Choi, Byeongyong Paul, 2008. "State regulation and the structure, conduct, efficiency and performance of US auto insurers," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 134-156, January.

    Cited by:

    1. Trigo Gamarra, Lucinda, 2008. "The effects of liberalization and deregulation on the performance of financial institutions: The case of the German life insurance market," Thuenen-Series of Applied Economic Theory 93, University of Rostock, Institute of Economics.
    2. Mahlberg, Bernhard & Url, Thomas, 2010. "Single Market effects on productivity in the German insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1540-1548, July.
    3. Walid Bahloul & Abdelfettah Bouri, 2016. "The Efficiency of the European Non-Life Insurance: CEO Power, Macroeconomic, and Market Characteristics Impact," IJFS, MDPI, vol. 4(1), pages 1-13, March.
    4. McShane, Michael K. & Cox, Larry A. & Butler, Richard J., 2010. "Regulatory competition and forbearance: Evidence from the life insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(3), pages 522-532, March.
    5. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    6. Bojan Srbinoski & Klime Poposki & Gorazd Čibej, 2021. "An empirical investigation of determinants of life insurers’ performance: Evidence from selected countries in Central, Eastern, and Southeastern Europe (CESEE)," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(3), pages 293-310, September.
    7. Parente, Ronaldo & Choi, Byeongyong Paul & Slangen, Arjen H.L. & Ketkar, Sonia, 2010. "Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States," Journal of International Management, Elsevier, vol. 16(3), pages 275-287, September.
    8. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    9. Philipp Steinbrunner, 2023. "I want a quiet life! On productivity and competition in the Central European energy sector," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(2), pages 403-428, April.
    10. Chrysovalantis Gaganis & Iftekhar Hasan & Fotios Pasiouras, 2013. "Efficiency and stock returns: evidence from the insurance industry," Journal of Productivity Analysis, Springer, vol. 40(3), pages 429-442, December.
    11. Wei Zheng & Yi Yao & Peng Shi & Yinglu Deng & Hao Zheng, 2022. "Deregulation, competition, and consumer choice of insurer: Evidence from liberalization reform in China’s automobile insurance market," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 47(1), pages 158-200, March.
    12. Courtney B. Baggett & Cassandra R. Cole & George Crowley & E. Tice Sirmans, 2020. "Spillover effects of increased health insurance enrollment on workers’ compensation insurance," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 23(1), pages 53-74, March.
    13. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    14. Gaganis, Chrysovalantis & Liu, Liuling & Pasiouras, Fotios, 2015. "Regulations, profitability, and risk-adjusted returns of European insurers: An empirical investigation," Journal of Financial Stability, Elsevier, vol. 18(C), pages 55-77.
    15. Davide Lanfranchi & Laura Grassi, 2021. "Translating technological innovation into efficiency: the case of US public P&C insurance companies," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(4), pages 565-585, December.
    16. Eling, Martin & Luhnen, Michael, 2010. "Efficiency in the international insurance industry: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1497-1509, July.
    17. Eling, Martin & Jia, Ruo & Schaper, Philipp, 2017. "Get the Balance Right: A Simultaneous Equation Model to Analyze Growth, Profitability, and Safety," Working Papers on Finance 1716, University of St. Gallen, School of Finance.
    18. Biener, Christian & Eling, Martin & Jia, Ruo, 2017. "The structure of the global reinsurance market: An analysis of efficiency, scale, and scope," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 213-229.
    19. Leverty, J. Tyler & Grace, Martin F., 2010. "The robustness of output measures in property-liability insurance efficiency studies," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1510-1524, July.
    20. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    21. Alshammari, Ahmad Alrazni & Syed Jaafar Alhabshi, Syed Musa bin & Saiti, Buerhan, 2019. "The impact of competition on cost efficiency of insurance and takaful sectors: Evidence from GCC markets based on the Stochastic Frontier Analysis," Research in International Business and Finance, Elsevier, vol. 47(C), pages 410-427.
    22. Camino-Mogro, Segundo & Armijos-Bravo, Grace & Cornejo-Marcos, Gino, 2019. "Competition in the insurance industry in Ecuador: An econometric analysis in life and non-life markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 291-302.
    23. Cummins, J. David & Rubio-Misas, María & Vencappa, Dev, 2017. "Competition, efficiency and soundness in European life insurance markets," Journal of Financial Stability, Elsevier, vol. 28(C), pages 66-78.
    24. Subrato Banerjee & Basri Savitha, 2021. "Competition reduces profitability: the case of the Indian life microinsurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 383-398, July.
    25. Lartey, Theophilus & James, Gregory A. & Danso, Albert & Boateng, Agyenim, 2023. "Interbank market structure, bank conduct, and performance: Evidence from the UK," Journal of Economic Behavior & Organization, Elsevier, vol. 210(C), pages 1-25.
    26. Pavić Kramarić Tomislava & Miletić Marko & Kožul Blaževski Renata, 2019. "Financial Stability of Insurance Companies in Selected CEE Countries," Business Systems Research, Sciendo, vol. 10(2), pages 163-178, September.
    27. Byeongyong Paul Choi, 2010. "The U.S. Property and Liability Insurance Industry: Firm Growth, Size, and Age," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(2), pages 207-224, September.
    28. Kramarić Tomislava Pavić & Miletić Marko, 2019. "The Boone Indicator as Determinant of Croatian Insurance Market Soundness," South East European Journal of Economics and Business, Sciendo, vol. 14(2), pages 1-12, December.
    29. Mary A. Weiss & Sharon Tennyson & Laureen Regan, 2010. "The Effects of Regulated Premium Subsidies on Insurance Costs: An Empirical Analysis of Automobile Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 597-624, September.

  14. Mary A. Weiss, 2007. "Underwriting Cycles: A Synthesis and Further Directions," Journal of Insurance Issues, Western Risk and Insurance Association, vol. 30(1), pages 31-46.

    Cited by:

    1. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2008. "The Costs and Benefits of Reinsurance," Cahiers de recherche 08-04, HEC Montréal, Institut d'économie appliquée.
    2. Chia-Ling Ho & Gene Lai & Sangyong Han & Licheng Jin, 2022. "Organisational structure, corporate governance and reinsurance decisions in the U.S. property-liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 737-784, October.
    3. John A. Major, 2019. "Methodological Considerations in the Statistical Modeling of Catastrophe Bond Prices," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(1), pages 39-56, March.
    4. Eling, Martin & Jia, Ruo, 2018. "Business failure, efficiency, and volatility: Evidence from the European insurance industry," International Review of Financial Analysis, Elsevier, vol. 59(C), pages 58-76.
    5. Iqbal Owadally & Feng Zhou & Douglas Wright, 2018. "The Insurance Industry as a Complex Social System: Competition, Cycles and Crises," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 21(4), pages 1-2.
    6. Cynthia Van Hulle & Hans Degryse & Kristien Smedts, 2017. "Risk-sharing benefits and the capital structure of insurance companies," Working Papers Department of Accountancy, Finance and Insurance (AFI), Leuven 571404, KU Leuven, Faculty of Economics and Business (FEB), Department of Accountancy, Finance and Insurance (AFI), Leuven.
    7. Lemoyne de Forges, Sabine & Bibas, Ruben & Hallegatte, Stephane, 2011. "A dynamic model of extreme risk coverage : resilience and efficiency in the global reinsurance market," Policy Research Working Paper Series 5807, The World Bank.
    8. Julien Hardelin & Sabine Lemoyne de Forges, 2009. "Raising capital in an insurance oligopoly market," Working Papers hal-00417573, HAL.
    9. Heni Boubaker & Nadia Sghaier, 2014. "How Do the Interest Rate and the Inflation Rate Affect the Non-Life Insurance Premiums ?," Working Papers 2014-282, Department of Research, Ipag Business School.
    10. Christophe Dutang & Hansjoerg Albrecher & Stéphane Loisel, 2013. "Competition among non-life insurers under solvency constraints: A game-theoretic approach," Post-Print hal-01616156, HAL.
    11. Feng Frank Y. & Powers Michael R., 2019. "Ordinary and Markov-Switching Autoregressive Models for Firm-Level Underwriting Data," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 13(2), pages 1-16, July.
    12. Tarasov, Arthur, 2013. "Impact of interest rates on the decision to insure in agricultural production," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 115(1), pages 1-7, February.

  15. Byeongyong Paul Choi & Mary A. Weiss, 2005. "An Empirical Investigation of Market Structure, Efficiency, and Performance in Property‐Liability Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 72(4), pages 635-673, December.

    Cited by:

    1. Walid Bahloul & Abdelfettah Bouri, 2016. "The Efficiency of the European Non-Life Insurance: CEO Power, Macroeconomic, and Market Characteristics Impact," IJFS, MDPI, vol. 4(1), pages 1-13, March.
    2. Oetzel, Jennifer M. & Banerjee, Sudeshna Ghosh, 2008. "A case of the tortoise versus the hare? Deregulation process, timing, and firm performance in emerging markets," International Business Review, Elsevier, vol. 17(1), pages 54-77, February.
    3. Götze, Tobias & Gürtler, Marc, 2020. "Risk transfer and moral hazard: An examination on the market for insurance-linked securities," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 758-777.
    4. Shaik, Saleem & Allen, Albert J. & Edwards, Seanicaa & Harris, James, 2009. "Market Structure Conduct Performance Hypothesis Revisited Using Stochastic Frontier Efficiency Analysis," Agribusiness & Applied Economics Report 55121, North Dakota State University, Department of Agribusiness and Applied Economics.
    5. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    6. Bojan Srbinoski & Klime Poposki & Gorazd Čibej, 2021. "An empirical investigation of determinants of life insurers’ performance: Evidence from selected countries in Central, Eastern, and Southeastern Europe (CESEE)," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(3), pages 293-310, September.
    7. Derrick W. H. Fung & Charles C. Yang & Jason J. H. Yeh, 2024. "The market price to embedded value gap: an analysis of European life insurers," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 69-96, January.
    8. Arup Barua & Alexandra Ioanid, 2021. "Synergistic Competitive Advantage - The Modern Appeal of RBV and IO Theory in the Mergers and Acquisitions," Bulgarian Economic Papers bep-2021-06, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Jul 2021.
    9. Shiu, Yung-Ming, 2020. "How does reinsurance and derivatives usage affect financial performance? Evidence from the UK non-life insurance industry," Economic Modelling, Elsevier, vol. 88(C), pages 376-385.
    10. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    11. Killins, Robert N., 2020. "Firm-specific, industry-specific and macroeconomic factors of life insurers’ profitability: Evidence from Canada," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    12. Nat Pope & Yu‐Luen Ma, 2008. "The Market Structure–Performance Relationship in the International Insurance Sector," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(4), pages 947-966, December.
    13. B. Elango & Yu‐Luen Ma & Nat Pope, 2008. "An Investigation Into the Diversification–Performance Relationship in the U.S. Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(3), pages 567-591, September.
    14. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    15. Slawomir Bukowski & Marzanna Lament, 2021. "Market Structure and Financial Effectiveness of Life Insurance Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 502-514.
    16. Michael K. McShane & Larry A. Cox, 2009. "Issuance Decisions and Strategic Focus: The Case of Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(1), pages 87-108, March.
    17. E. ERNAWATI & Raja MASBAR & M. Shabri Abd. MAJID & Abd. JAMAL, 2021. "Production And Marketing Efficiency Of Patchouli Oil Industry In Indonesia," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 135-148, June.
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    29. Xiaoying Xie & Charles Lee & Martin Eling, 2020. "Cyber insurance offering and performance: an analysis of the U.S. cyber insurance market," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(4), pages 690-736, October.
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    31. Elango, B., 2009. "Minimizing effects of 'liability of foreignness': Response strategies of foreign firms in the United States," Journal of World Business, Elsevier, vol. 44(1), pages 51-62, January.
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    36. Eling, Martin & Jia, Ruo & Schaper, Philipp, 2017. "Get the Balance Right: A Simultaneous Equation Model to Analyze Growth, Profitability, and Safety," Working Papers on Finance 1716, University of St. Gallen, School of Finance.
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    41. Saowaros Yaisawarng & Preecha Asavadachanukorn & Suthathip Yaisawarng, 2014. "Efficiency and productivity in the Thai non-life insurance industry," Journal of Productivity Analysis, Springer, vol. 41(2), pages 291-306, April.
    42. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    43. Jacob A. Bikker, 2017. "Competition and Scale Economy Effects of the Dutch 2006 Health-Care Insurance Reform," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(1), pages 53-78, January.
    44. Alshammari, Ahmad Alrazni & Syed Jaafar Alhabshi, Syed Musa bin & Saiti, Buerhan, 2019. "The impact of competition on cost efficiency of insurance and takaful sectors: Evidence from GCC markets based on the Stochastic Frontier Analysis," Research in International Business and Finance, Elsevier, vol. 47(C), pages 410-427.
    45. Chen-Ying Lee, 2014. "The effects of firm specific factors and macroeconomics on profitability of property-liability insurance industry in Taiwan," Journal of Business & Management (COES&RJ-JBM), , vol. 2(1), pages 221-227, January.
    46. Ram Pratap Sinha, 2017. "Dynamic Performance Benchmarking of Indian General Insurers," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 15(3), pages 543-564, September.
    47. Di Falco, Salvatore & Capitanio, Fabian & Adinolfi, Felice, 2011. "Natural Vs Financial Insurance in the Management of Weather Risk Exposure in the Italian Agriculture," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114325, European Association of Agricultural Economists.
    48. Sebsatiaan Lambalk & Frank Jan de Graaf, 2017. "Explaining the relationship between firm performance and corporate governance of Dutch non-life insurance companies: Dutch mutual and commercial companies compared," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 7(2), pages 197-231, April.
    49. Li-Hua Lai & Ching-Hao Chen & Tung-Cheng Chang, 2018. "The Impact of Macroeconomic Factors on Environmental Loss Ratio: Evidence from Taiwanese Insurance Data," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 21(03), pages 1-13, September.
    50. Ram Pratap Sinha, 2017. "Efficiency-solvency linkage of Indian general insurance companies: a robust non-parametric approach," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(3), pages 353-370, December.
    51. Laurie J. Bates & James I. Hilliard & Rexford E. Santerre, 2012. "Do Health Insurers Possess Market Power?," Southern Economic Journal, John Wiley & Sons, vol. 78(4), pages 1289-1304, April.
    52. Cummins, J. David & Rubio-Misas, María & Vencappa, Dev, 2017. "Competition, efficiency and soundness in European life insurance markets," Journal of Financial Stability, Elsevier, vol. 28(C), pages 66-78.
    53. Fenn, Paul & Vencappa, Dev & Diacon, Stephen & Klumpes, Paul & O'Brien, Chris, 2008. "Market structure and the efficiency of European insurance companies: A stochastic frontier analysis," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 86-100, January.
    54. Subrato Banerjee & Basri Savitha, 2021. "Competition reduces profitability: the case of the Indian life microinsurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 383-398, July.
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  16. Mary A. Weiss & Joon‐Hai Chung, 2004. "U.S. Reinsurance Prices, Financial Quality, and Global Capacity," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 71(3), pages 437-467, September.

    Cited by:

    1. Dionne, Georges & Desjardins, Denise, 2022. "A re-examination of the U.S. insurance market’s capacity to pay catastrophe losses," Working Papers 22-2, HEC Montreal, Canada Research Chair in Risk Management.
    2. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2008. "The Costs and Benefits of Reinsurance," Cahiers de recherche 08-04, HEC Montréal, Institut d'économie appliquée.
    3. Beer, Simone & Braun, Alexander & Marugg, Andrin, 2019. "Pricing industry loss warranties in a Lévy–Frailty framework," Insurance: Mathematics and Economics, Elsevier, vol. 89(C), pages 171-181.
    4. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    5. Mohammad Nourani & Qian Long Kweh & Evelyn Shyamala Devadason & V.G.R. Chandran, 2020. "A decomposition analysis of managerial efficiency for the insurance companies: A data envelopment analysis approach," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(6), pages 885-901, September.
    6. Chia-Ling Ho & Gene Lai & Sangyong Han & Licheng Jin, 2022. "Organisational structure, corporate governance and reinsurance decisions in the U.S. property-liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 737-784, October.
    7. Parente, Ronaldo & Choi, Byeongyong Paul & Slangen, Arjen H.L. & Ketkar, Sonia, 2010. "Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States," Journal of International Management, Elsevier, vol. 16(3), pages 275-287, September.
    8. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    9. Giovanni Millo, 2016. "The Income Elasticity of Nonlife Insurance: A Reassessment," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 83(2), pages 335-362, June.
    10. Lemoyne de Forges, Sabine & Bibas, Ruben & Hallegatte, Stephane, 2011. "A dynamic model of extreme risk coverage : resilience and efficiency in the global reinsurance market," Policy Research Working Paper Series 5807, The World Bank.
    11. Milidonis, Andreas, 2013. "Compensation incentives of credit rating agencies and predictability of changes in bond ratings and financial strength ratings," Journal of Banking & Finance, Elsevier, vol. 37(9), pages 3716-3732.
    12. W. J. W. Botzen & J. C. J. M. Van Den Bergh, 2008. "Insurance Against Climate Change and Flooding in the Netherlands: Present, Future, and Comparison with Other Countries," Risk Analysis, John Wiley & Sons, vol. 28(2), pages 413-426, April.
    13. Julien Hardelin & Sabine Lemoyne de Forges, 2009. "Raising capital in an insurance oligopoly market," Working Papers hal-00417573, HAL.
    14. Patricia H. Born & Barbara Klimaszewski-Blettner, 2013. "Should I Stay or Should I Go? The Impact of Natural Disasters and Regulation on U.S. Property Insurers’ Supply Decisions," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(1), pages 1-36, March.
    15. Mathieu Gatumel & Sabine Lemoyne de Forges, 2013. "Understanding and Monitoring Reinsurance Counterparty Risk," Post-Print hal-00946934, HAL.
    16. Dionne, Georges & Desjardins, Denise, 2017. "Reinsurance Demand and Liquidity Creation," Working Papers 17-3, HEC Montreal, Canada Research Chair in Risk Management.
    17. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    18. Jean-François Outreville, 2014. "The Meaning of Risk? Insights from The Geneva Risk and Insurance Review," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 39(4), pages 768-781, October.
    19. Zou, Bin & Cadenillas, Abel, 2014. "Explicit solutions of optimal consumption, investment and insurance problems with regime switching," Insurance: Mathematics and Economics, Elsevier, vol. 58(C), pages 159-167.
    20. Upreti, Vineet & Adams, Mike, 2015. "The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 206-219.
    21. Desjardins, Denise & Dionne, Georges & Koné, N’Golo, 2022. "Reinsurance demand and liquidity creation: A search for bicausality," Journal of Empirical Finance, Elsevier, vol. 66(C), pages 137-154.
    22. Ning Wang & Yiling Deng, 2016. "Market responses to loss shocks and insurers' post-catastrophe performance in the US property-casualty insurance market," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 11(3), pages 231-246.
    23. Cassandra R. Cole & Kathleen A. McCullough, 2008. "A Comparative Analysis of U.S. Property and Casualty Reinsurers and Insurers," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(1), pages 179-207, March.

  17. Cummins, J David & Phillips, Richard D & Weiss, Mary A, 2001. "The Incentive Effects of No-Fault Automobile Insurance," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 427-464, October.
    See citations under working paper version above.
  18. Berger, Allen N. & Cummins, J. David & Weiss, Mary A. & Zi, Hongmin, 2000. "Conglomeration versus Strategic Focus: Evidence from the Insurance Industry," Journal of Financial Intermediation, Elsevier, vol. 9(4), pages 323-362, October.
    See citations under working paper version above.
  19. Cummins, J. David & Tennyson, Sharon & Weiss, Mary A., 1999. "Consolidation and efficiency in the US life insurance industry," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 325-357, February.
    See citations under working paper version above.
  20. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1999. "Organizational Form and Efficiency: The Coexistence of Stock and Mutual Property-Liability Insurers," Management Science, INFORMS, vol. 45(9), pages 1254-1269, September.

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    1. Augusto Felício, J. & Rodrigues, Ricardo, 2015. "Organizational factors and customers' motivation effect on insurance companies' performance," Journal of Business Research, Elsevier, vol. 68(7), pages 1622-1629.
    2. Chang, Ching-Cheng & Chen, Chi-Chung & Tseng, Wei-Chun & Hu, Wu-Yueh, "undated". "Estimating the Profit Efficiency of Contract and Non-Contract Rice Farms in Taiwan -- A Meta-Frontier and A Cross-Frontier Appraoch Applications," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205445, Agricultural and Applied Economics Association.
    3. Shuji Yao & Zhongwei Han & Dan Luo, 2010. "Performance of the Chinese Insurance Industry under Economic Reforms," Books, Edward Elgar Publishing, number 12788.
    4. Götze, Tobias & Gürtler, Marc, 2020. "Risk transfer and moral hazard: An examination on the market for insurance-linked securities," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 758-777.
    5. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    6. Mohammad Nourani & Qian Long Kweh & Evelyn Shyamala Devadason & V.G.R. Chandran, 2020. "A decomposition analysis of managerial efficiency for the insurance companies: A data envelopment analysis approach," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(6), pages 885-901, September.
    7. Sufian, Fadzlan, 2011. "Banks total factor productivity change in a developing economy: Does ownership and origins matter?," Journal of Asian Economics, Elsevier, vol. 22(1), pages 84-98, February.
    8. Norashikin Ismail & Prof. Dr. Datuk Syed Othman Alhabshi & Prof. Obiyathulla Bacha, 2011. "Organizational Form And Efficiency: The Coexistence Of Family Takaful And Life Insurance In Malaysia," Journal of Global Business and Economics, Global Research Agency, vol. 3(1), pages 122-137, July.
    9. Chakraborty Kalyan & Dutta Anirban & Sengupta Partha Pratim, 2012. "Efficiency and Productivity of Indian Life Insurance Industry," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 7(1), pages 1-28, December.
    10. A. Camanho & R. Dyson, 2006. "Data envelopment analysis and Malmquist indices for measuring group performance," Journal of Productivity Analysis, Springer, vol. 26(1), pages 35-49, August.
    11. Hela Miniaoui & Anissa Chaibi, 2014. "Technical Efficiency of Takaful Industry: A Comparative Study of Malaysia and GCC Countries," Working Papers 2014-55, Department of Research, Ipag Business School.
    12. Peerapong Dhangwatnotai & Sampan Nettayanun, 2018. "Value Investing with Quality in the US Public Insurance Companies," PIER Discussion Papers 93, Puey Ungphakorn Institute for Economic Research.
    13. Biener, Christian & Eling, Martin & Jia, Ruo, 2016. "The Roles of Industry Idiosyncrasy, Cost Efficiency, and Risk in Internationalization: Evidence from the Insurance Industry," Working Papers on Finance 1602, University of St. Gallen, School of Finance.
    14. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    15. Chien-Ming Chen & Magali A. Delmas & Marvin B. Lieberman, 2015. "Production frontier methodologies and efficiency as a performance measure in strategic management research," Strategic Management Journal, Wiley Blackwell, vol. 36(1), pages 19-36, January.
    16. Martin Eling & Martin Lehmann & Philipp Schaper, 2022. "Optimal labor and capital utilization by financial firms: evidence from the German property and casualty insurance industry," Journal of Business Economics, Springer, vol. 92(5), pages 853-897, July.
    17. J.A. Bikker, 2012. "Performance of the life insurance industry under pressure: efficiency, competition and consolidation," Working Papers 12-19, Utrecht School of Economics.
    18. B. Elango & Yu‐Luen Ma & Nat Pope, 2008. "An Investigation Into the Diversification–Performance Relationship in the U.S. Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(3), pages 567-591, September.
    19. Biener, Christian & Eling, Martin & Wirfs, Jan Hendrik, 2016. "The determinants of efficiency and productivity in the Swiss insurance industry," European Journal of Operational Research, Elsevier, vol. 248(2), pages 703-714.
    20. Arabmaldar, A. & Sahoo, B.K. & Ghiyasi, M., 2023. "A generalized robust data envelopment analysis model based on directional distance function," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 138962, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    21. J. David Cummins & Georges Dionne & Robert Gagné & Abdelhakim Nouira, 2006. "Efficiency of Insurance Firms with Endogenous Risk Management and Financial Intermediation Activities," Cahiers de recherche 0616, CIRPEE.
    22. Michael K. McShane & Larry A. Cox, 2009. "Issuance Decisions and Strategic Focus: The Case of Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(1), pages 87-108, March.
    23. Fadzlan Sufian & Fakarudin Kamarudin, 2014. "The impact of ownership structure on bank productivity and efficiency: Evidence from semi-parametric Malmquist Productivity Index," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-27, December.
    24. Hohsuk Noh & Seong J. Yang, 2020. "Comparing Groups of Decision-Making Units in Efficiency Based on Semiparametric Regression," Mathematics, MDPI, vol. 8(2), pages 1-16, February.
    25. Biresh K. Sahoo & Kaoru Tone, 2022. "Evaluating the potential efficiency gains from optimal industry configuration: A case of life insurance industry of India," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3996-4009, December.
    26. Braun, Alexander & Schmeiser, Hato & Rymaszewski, Przemysław, 2015. "Stock vs. mutual insurers: Who should and who does charge more?," European Journal of Operational Research, Elsevier, vol. 242(3), pages 875-889.
    27. Sampan Nettayanun, 2016. "Value Investing: Circle of Competence in the Thai Insurance Industry," PIER Discussion Papers 46, Puey Ungphakorn Institute for Economic Research.
    28. 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.
    29. David M. Pooser & Mark J. Browne, 2018. "The Effects of Customer Satisfaction on Company Profitability: Evidence From the Property and Casualty Insurance Industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 289-308, September.
    30. Martin Desrochers & Klaus P. Fischer, 2005. "The Power of Networks: Integration and Financial Cooperative Performance," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(3), pages 307-354, September.
    31. Dionne, Georges & Gagné, Robert & Nouira, Abdelhakim, 2007. "Determinants of insurers’ performance in risk pooling, risk management, and financial intermediation activities," Working Papers 07-4, HEC Montreal, Canada Research Chair in Risk Management.
    32. Muhammed Altuntas & James Garven & Jannes Rauch, 2018. "On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 211-242, September.
    33. Tomislava Pavic Kramaric & Marko Miletic & Ivan Pavic, 2017. "Profitability Determinants of Insurance Markets in Selected Central and Eastern European Countries," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 6(2), pages 100-123, November.
    34. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    35. James M. Sfiridis & Kenneth N. Daniels, 2004. "The Relative Cost Efficiency of Stock versus Mutual Thrifts: A Bayesian Approach," The Financial Review, Eastern Finance Association, vol. 39(1), pages 153-179, February.
    36. Muhammed Altuntas & Thomas R. Berry-Stölzle & J. David Cummins, 2021. "Enterprise risk management and economies of scale and scope: evidence from the German insurance industry," Annals of Operations Research, Springer, vol. 299(1), pages 811-845, April.
    37. Schmeiser, Hato & Orozco-Garcia, Carolina, 2021. "The merits of pooling claims: Mutual vs. stock insurers," Insurance: Mathematics and Economics, Elsevier, vol. 99(C), pages 92-104.
    38. Huang, Wei & Eling, Martin, 2013. "An efficiency comparison of the non-life insurance industry in the BRIC countries," European Journal of Operational Research, Elsevier, vol. 226(3), pages 577-591.
    39. Bernhard Mahlberg & Thomas Url, 2000. "The Transition to the Single Market in the German Insurance Industry," WIFO Working Papers 131, WIFO.
    40. Vivian Jeng & Gene C Lai, 2008. "The Impact of Deregulation on Efficiency: An Analysis of Life Insurance Industry in Taiwan From 1981 to 2004," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(2), pages 349-375, September.
    41. Reza Sanei & Farhad Hosseinzadeh lotfi & Mohammad Fallah & Farzad Movahedi Sobhani, 2022. "An Estimation of an Acceptable Efficiency Frontier Having an Optimum Resource Management Approach, with a Combination of the DEA-ANN-GA Technique (A Case Study of Branches of an Insurance Company)," Mathematics, MDPI, vol. 10(23), pages 1-21, November.
    42. Trigo Gamarra, Lucinda, 2007. "Single- versus multi-channel distribution strategies in the German life insurance market: A cost and profit efficiency analysis," Thuenen-Series of Applied Economic Theory 81, University of Rostock, Institute of Economics.
    43. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    44. Thomas R. Berry-Stölzle & Robert E. Hoyt & Sabine Wende, 2013. "Capital Market Development, Competition, Property Rights, and the Value of Insurer Product-Line Diversification: A Cross-Country Analysis," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(2), pages 423-459, June.
    45. Frauke von Bieberstein & Jörg Schiller, 2018. "Contract design and insurance fraud: an experimental investigation," Review of Managerial Science, Springer, vol. 12(3), pages 711-736, July.
    46. J. David Cummins & Maria Rubio-Misas, 2001. "Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry," Center for Financial Institutions Working Papers 02-01, Wharton School Center for Financial Institutions, University of Pennsylvania.
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    62. Antti Talonen & Harri Talonen & Jari Stenvall & Iiro Jussila, 2020. "Communicating the economic value of customer ownership in insurance: A qualitative analysis of annual reports," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 23(3), pages 243-267, September.
    63. Fadzlan Sufian & Fakarudin Kamarudin, 2017. "Forced Mergers on Bank Efficiency and Productivity: Evidence from Semi-parametric Malmquist Productivity Index," Global Business Review, International Management Institute, vol. 18(1), pages 19-44, February.
    64. Carlos Pestana Barros & Silvestre Dumbo & Peter Wanke, 2014. "Efficiency Determinants and Capacity Issues in Angolan Insurance Companies," South African Journal of Economics, Economic Society of South Africa, vol. 82(3), pages 455-467, September.
    65. Fadzlan Sufian, 2009. "Antecedents of Total Factor Productivity Change: Empirical Evidence from the Chinese Banking Sector," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 16(1), pages 114-126, May.
    66. Jakša Krišto & Antti Talonen & Hrvoje Pauković, 2021. "Analysis of community‐owned mutual insurers' prospects of development in CEE countries: Outlining research agenda," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(3), pages 243-261, September.
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    71. Saowaros Yaisawarng & Preecha Asavadachanukorn & Suthathip Yaisawarng, 2014. "Efficiency and productivity in the Thai non-life insurance industry," Journal of Productivity Analysis, Springer, vol. 41(2), pages 291-306, April.
    72. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    73. Eva Vriens & Tine De Moor, 2020. "Mutuals on the Move: Exclusion Processes in the Welfare State and the Rediscovery of Mutualism," Social Inclusion, Cogitatio Press, vol. 8(1), pages 225-237.
    74. Wanke, Peter & Barros, Carlos Pestana, 2016. "Efficiency drivers in Brazilian insurance: A two-stage DEA meta frontier-data mining approach," Economic Modelling, Elsevier, vol. 53(C), pages 8-22.
    75. Anirban Dutta, 2013. "Impact of Privatization on Productivity: A Non-Parametric Analysis of Indian Insurance Sector," Global Business Review, International Management Institute, vol. 14(2), pages 297-314, June.
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    79. Sebsatiaan Lambalk & Frank Jan de Graaf, 2017. "Explaining the relationship between firm performance and corporate governance of Dutch non-life insurance companies: Dutch mutual and commercial companies compared," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 7(2), pages 197-231, April.
    80. Jiang Cheng & J. David Cummins & Tzuting Lin, 2021. "Are all mutuals the same? Evidence from CEO turnover in the US property–casualty insurance industry," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(2), pages 175-205, September.
    81. Attiea Marie & Ananth Rao & Hossein Kashani, 2009. "Cost efficiency and value driver analysis of insurers in an emerging economy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(4), pages 265-280.
    82. Zarrin, Mansour & Brunner, Jens O., 2023. "Analyzing the accuracy of variable returns to scale data envelopment analysis models," European Journal of Operational Research, Elsevier, vol. 308(3), pages 1286-1301.
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  21. Berger, Allen N & Cummins, J David & Weiss, Mary A, 1997. "The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance," The Journal of Business, University of Chicago Press, vol. 70(4), pages 515-546, October.
    See citations under working paper version above.
  22. Cummins, J. David & Weiss, Mary A., 1993. "Measuring cost efficiency in the property-liability insurance industry," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 463-481, April.

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    1. Trigo Gamarra, Lucinda, 2008. "The effects of liberalization and deregulation on the performance of financial institutions: The case of the German life insurance market," Thuenen-Series of Applied Economic Theory 93, University of Rostock, Institute of Economics.
    2. Allen N. Berger & David B. Humphrey, 1997. "Efficiency of Financial Institutions: International Survey and Directions for Future Research," Center for Financial Institutions Working Papers 97-05, Wharton School Center for Financial Institutions, University of Pennsylvania.
    3. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1998. "Organizational form and efficiency: an analysis of stock and mutual property-liability insurers," Working Papers 98-19, Federal Reserve Bank of Philadelphia.
    4. Shuji Yao & Zhongwei Han & Dan Luo, 2010. "Performance of the Chinese Insurance Industry under Economic Reforms," Books, Edward Elgar Publishing, number 12788.
    5. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
    6. Bojan Srbinoski & Klime Poposki & Gorazd Čibej, 2021. "An empirical investigation of determinants of life insurers’ performance: Evidence from selected countries in Central, Eastern, and Southeastern Europe (CESEE)," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(3), pages 293-310, September.
    7. Alshammari, Ahmad Alrazni & Alhabshi, Syed Musa & Saiti, Buerhan, 2019. "The impact of oil prices and the financial market on cost efficiency in the insurance and Takaful sectors: Evidence from a stochastic frontier analysis," Economic Systems, Elsevier, vol. 43(3).
    8. Allen N. Berger & J. David Cummins & Mary A. Weiss, 1995. "The coexistence of multiple distribution systems for financial services: the case of property-liability insurance," Finance and Economics Discussion Series 95-22, Board of Governors of the Federal Reserve System (U.S.).
    9. Chiraz FEKI, 2016. "Information asymmetry and technical efficiency: Case of a panel of Tunisian insurance companies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(609), W), pages 299-314, Winter.
    10. Licheng Jin & Gene Lai & Chia-Ling Ho, 2022. "An analysis of post-demutualisation in the property–liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(2), pages 279-320, April.
    11. Kasman Adnan & Turgutlu Evrim, 2008. "Competitive Conditions in the Turkish Non-Life Insurance Industry," Review of Middle East Economics and Finance, De Gruyter, vol. 4(1), pages 81-96, January.
    12. Nils Mahlow & Joël Wagner, 2016. "Evolution of Strategic Levers in Insurance Claims Management: An Industry Survey," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 19(2), pages 197-223, September.
    13. J. David Cummins & Hongmin Zi, 1997. "Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry," Center for Financial Institutions Working Papers 97-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
    14. Felder, Stefan, 1996. "Fire insurance in Germany: A comparison of price-performance between state monopolies and competitive regions," European Economic Review, Elsevier, vol. 40(3-5), pages 1133-1141, April.
    15. Maria Rosa Borges & Milton Nektarios & Carlos Pestana Barros, 2008. "Analysing The Efficiency Of The Greek Life Insurance Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 35-52.
    16. 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.
    17. Mr. Jong-Kun Lee & Mr. Biaggio Bossone, 2002. "In Finance, Size Matters," IMF Working Papers 2002/113, International Monetary Fund.
    18. Peng Shi & Wei Zhang, 2011. "Time-varying X-efficiency: evidence from US property casualty insurers," Applied Economics Letters, Taylor & Francis Journals, vol. 18(3), pages 217-221.
    19. Shi, Peng & Frees, Edward W., 2010. "Long-tail longitudinal modeling of insurance company expenses," Insurance: Mathematics and Economics, Elsevier, vol. 47(3), pages 303-314, December.
    20. Cummins, J. David & Weiss, Mary A. & Xie, Xiaoying & Zi, Hongmin, 2010. "Economies of scope in financial services: A DEA efficiency analysis of the US insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1525-1539, July.
    21. Patricia Born & William M. Gentry & W. Kip Viscusi & Richard J. Zeckhauser, 1995. "Organizational Form and Insurance Company Performance: Stocks versus Mutuals," NBER Working Papers 5246, National Bureau of Economic Research, Inc.
    22. Carow, Kenneth A. & Kane, Edward J., 2002. "Event-study evidence of the value of relaxing long-standing regulatory restraints on banks, 1970-2000," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(3), pages 439-463.
    23. Gina Dokko & Steffanie L. Wilk & Nancy P. Rothbard, 2009. "Unpacking Prior Experience: How Career History Affects Job Performance," Organization Science, INFORMS, vol. 20(1), pages 51-68, February.
    24. Vivian Jeng & Gene C Lai, 2008. "The Impact of Deregulation on Efficiency: An Analysis of Life Insurance Industry in Taiwan From 1981 to 2004," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(2), pages 349-375, September.
    25. Reza Sanei & Farhad Hosseinzadeh lotfi & Mohammad Fallah & Farzad Movahedi Sobhani, 2022. "An Estimation of an Acceptable Efficiency Frontier Having an Optimum Resource Management Approach, with a Combination of the DEA-ANN-GA Technique (A Case Study of Branches of an Insurance Company)," Mathematics, MDPI, vol. 10(23), pages 1-21, November.
    26. Neale Faith R. & Drake Pamela Peterson & Clark Steven P., 2010. "Diversification in the Financial Services Industry: The Effect of the Financial Modernization Act," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-30, March.
    27. Cuesta, Rafael A. & Orea, Luis, 2002. "Mergers and technical efficiency in Spanish savings banks: A stochastic distance function approach," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2231-2247.
    28. María Rubio‐Misas, 2022. "Analysis of insurers' performance using frontier efficiency and productivity methods. The great contributions by David Cummins and Mary Weiss," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 25(4), pages 445-489, December.
    29. Banker, Rajiv D. & Chang, Hsihui & Cunningham, Reba, 2003. "The public accounting industry production function," Journal of Accounting and Economics, Elsevier, vol. 35(2), pages 255-281, June.
    30. J. David Cummins & Maria Rubio-Misas, 2001. "Deregulation, Consolidation, and Efficiency: Evidence From the Spanish Insurance Industry," Center for Financial Institutions Working Papers 02-01, Wharton School Center for Financial Institutions, University of Pennsylvania.
    31. Dean F. 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.).
    32. Ana María Reyna & Hugo J. Fuentes, 2018. "A cost efficiency analysis of the insurance industry in Mexico," Journal of Productivity Analysis, Springer, vol. 49(1), pages 49-64, February.
    33. Fuentes-Castro, Hugo Javier. & Reyna-Bernal, Ana María., 2014. "Comparando con las grandes. Retos para las aseguradoras en reducción de costos," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(19), pages 7-32, segundo s.
    34. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1999. "Organizational Form and Efficiency: The Coexistence of Stock and Mutual Property-Liability Insurers," Management Science, INFORMS, vol. 45(9), pages 1254-1269, September.
    35. Barros, Carlos Pestana & Nektarios, Milton & Assaf, A., 2010. "Efficiency in the Greek insurance industry," European Journal of Operational Research, Elsevier, vol. 205(2), pages 431-436, September.
    36. Philip Hardwick & Michael Adams, 1996. "Claims' estimation in multiproduct life insurance firms: preliminary United Kingdom results," Applied Economics Letters, Taylor & Francis Journals, vol. 3(11), pages 715-718.
    37. 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.
    38. Joaquín Maudos, 1996. "Eficiencia, cambio técnico y productividad en el sector bancario español: una aproximación de frontera estocástica," Investigaciones Economicas, Fundación SEPI, vol. 20(3), pages 339-358, September.
    39. Cummins, J. David & Tennyson, Sharon & Weiss, Mary A., 1999. "Consolidation and efficiency in the US life insurance industry," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 325-357, February.
    40. Carlos Pestana Barros & Silvestre Dumbo & Peter Wanke, 2014. "Efficiency Determinants and Capacity Issues in Angolan Insurance Companies," South African Journal of Economics, Economic Society of South Africa, vol. 82(3), pages 455-467, September.
    41. H Chang & C Galantine & A Thevaranjan, 2009. "Returns to scale pattern and efficient firm size in the public accounting industry: an empirical investigation," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(11), pages 1495-1501, November.
    42. Jeungbo Shim, 2011. "Mergers & Acquisitions, Diversification and Performance in the U.S. Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 39(3), pages 119-144, June.
    43. Michael Powers & Martin Shubik & Shun Yao, 1998. "Insurance market games: Scale effects and public policy," Journal of Economics, Springer, vol. 67(2), pages 109-134, June.
    44. Milton Nektarios, 2010. "A Growth Theory for the Insurance Industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(1), pages 45-60, March.
    45. Jarraya, Bilel & Bouri, Abdelfettah, 2012. "Efficiency concept and investigations in insurance industry: A survey," MPRA Paper 53544, University Library of Munich, Germany, revised 2013.
    46. J. Cummins & Gregory Nini, 2002. "Optimal Capital Utilization by Financial Firms: Evidence from the Property-Liability Insurance Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 21(1), pages 15-53, February.
    47. Alshammari, Ahmad Alrazni & Syed Jaafar Alhabshi, Syed Musa bin & Saiti, Buerhan, 2019. "The impact of competition on cost efficiency of insurance and takaful sectors: Evidence from GCC markets based on the Stochastic Frontier Analysis," Research in International Business and Finance, Elsevier, vol. 47(C), pages 410-427.
    48. Wanke, Peter & Barros, Carlos Pestana, 2016. "Efficiency drivers in Brazilian insurance: A two-stage DEA meta frontier-data mining approach," Economic Modelling, Elsevier, vol. 53(C), pages 8-22.
    49. Toivanen, Otto, 1997. "Economies of scale and scope in the Finnish non-life insurance industry," Journal of Banking & Finance, Elsevier, vol. 21(6), pages 759-779, June.
    50. Assaf, A. George & Josiassen, Alexander & Ratchford, Brian T. & Barros, Carlos Pestana, 2012. "Internationalization and Performance of Retail Firms: A Bayesian Dynamic Model," Journal of Retailing, Elsevier, vol. 88(2), pages 191-205.
    51. Lee, Soon-Jae & Smith, Michael L., 1999. "Property-casualty insurance guaranty funds and insurer vulnerability to misfortune," Journal of Banking & Finance, Elsevier, vol. 23(9), pages 1437-1456, September.
    52. Yap Yin Choo, 2012. "Efficiency and scale economies in the Japanese non-life insurance industry," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 5(3), pages 239-255.
    53. Sebsatiaan Lambalk & Frank Jan de Graaf, 2017. "Explaining the relationship between firm performance and corporate governance of Dutch non-life insurance companies: Dutch mutual and commercial companies compared," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 7(2), pages 197-231, April.
    54. Attiea Marie & Ananth Rao & Hossein Kashani, 2009. "Cost efficiency and value driver analysis of insurers in an emerging economy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(4), pages 265-280.
    55. J. David Cummins & Giuseppe Turchetti, 1996. "Productivity and Technical Efficiency in the Italian Insurance Industry," Center for Financial Institutions Working Papers 96-10, Wharton School Center for Financial Institutions, University of Pennsylvania.
    56. G. Sav, 2012. "Stochastic Cost Frontier and Inefficiency Estimates of Public and Private Universities: Does Government Matter?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 18(2), pages 187-198, May.
    57. J. Cummins & Xiaoying Xie, 2013. "Efficiency, productivity, and scale economies in the U.S. property-liability insurance industry," Journal of Productivity Analysis, Springer, vol. 39(2), pages 141-164, April.
    58. G. Thomas Sav, 2012. "Cost Efficiencies and Rankings of Flagship Universities," American Journal of Economics and Business Administration, Science Publications, vol. 3(4), pages 596-603, January.
    59. Mahlberg Bernhard, 2000. "Technischer Fortschritt und Produktivitätsveränderungen in der deutschen Versicherungswirtschaft / Efficiency Progress and Productivity Change in Germany Insurance Industry," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 220(5), pages 565-591, October.
    60. Sen Subir, 2020. "Analysis of Cost Efficiency of Indian Life Insurers: A comparison of Quantity vs Value based DEA Approach," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 14(1), pages 1-25, January.

  23. Mary A. Weiss, 1991. "International P/L Insurance Output, Input, and Productivity Comparisons," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 16(2), pages 179-200, December.

    Cited by:

    1. Shuji Yao & Zhongwei Han & Dan Luo, 2010. "Performance of the Chinese Insurance Industry under Economic Reforms," Books, Edward Elgar Publishing, number 12788.
    2. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    3. Biener, Christian & Eling, Martin & Wirfs, Jan Hendrik, 2016. "The determinants of efficiency and productivity in the Swiss insurance industry," European Journal of Operational Research, Elsevier, vol. 248(2), pages 703-714.
    4. Huang, Wei & Eling, Martin, 2013. "An efficiency comparison of the non-life insurance industry in the BRIC countries," European Journal of Operational Research, Elsevier, vol. 226(3), pages 577-591.
    5. Lada Shirinyan & Artur Shirinian, 2019. "Key Determinants of Efficiency of Functioning Insurance Market for Insurance Companies," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 122-128, September.
    6. Biener, Christian & Eling, Martin, 2012. "Organization and efficiency in the international insurance industry: A cross-frontier analysis," European Journal of Operational Research, Elsevier, vol. 221(2), pages 454-468.
    7. Eling, Martin & Luhnen, Michael, 2010. "Efficiency in the international insurance industry: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1497-1509, July.
    8. Lee, Chien-Chiang & Chiu, Yi-Bin, 2016. "Globalization and insurance activity: Evidence on the industrial and emerging countries," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 328-349.
    9. Yao, Shujie & Han, Zhongwei & Feng, Genfu, 2007. "On technical efficiency of China's insurance industry after WTO accession," China Economic Review, Elsevier, vol. 18(1), pages 66-86.

  24. J. David Cummins & Mary A. Weiss, 1991. "The structure, conduct, and regulation of the property-liability insurance industry," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 35, pages 117-164.

    Cited by:

    1. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. J. David Cummins & Richard Phillips & Stephen D. Smith, 1996. "Corporate Hedging in the Insurance Industry: The Use of Financial Derivatives by U.S. Insurers," Center for Financial Institutions Working Papers 96-26, Wharton School Center for Financial Institutions, University of Pennsylvania.
    3. Albarrán Lozano, Irene & Marín Díazaraque, Juan Miguel & Alonso, Pablo J., 2011. "Why using a general model in Solvency II is not a good idea : an explanation from a Bayesian point of view," DES - Working Papers. Statistics and Econometrics. WS ws113729, Universidad Carlos III de Madrid. Departamento de Estadística.
    4. Robert W. Klein & Paul R. Kleindorfer, 1999. "The Supply of Catastrophe Insurance Under Regulatory Constraints," Center for Financial Institutions Working Papers 99-25, Wharton School Center for Financial Institutions, University of Pennsylvania.
    5. J. David Cummins & Richard D. Phillips & Stephen D. Smith, 1997. "Derivatives and corporate risk management: participation and volume decisions in the insurance industry," FRB Atlanta Working Paper 97-12, Federal Reserve Bank of Atlanta.
    6. Grillet, Luc L., 1992. "Markets, hierarchies, and hybrids in corporate insurance," Discussion Papers, Series II 173, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    7. Bin Ke & Kathy Petroni & Douglas A. Shackelford, 1999. "The Impact of State Taxes on Self-Insurance," NBER Working Papers 7453, National Bureau of Economic Research, Inc.
    8. Vincent Y. Chang, 2019. "Does reinsurance purchasing enhance insurers’ competitiveness? Evidence from the U.S. property–liability insurance industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(4), pages 595-623, October.

  25. J David Cummins & Mary A Weiss, 1991. "The Effects of No Fault on Automobile Insurance Loss Costs," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 16(1), pages 20-38, January.

    Cited by:

    1. Mary Kelly & Anne Kleffner & Maureen Tomlinson, 2010. "First‐Party Versus Third‐Party Compensation for Automobile Accidents: Evidence From Canada," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(1), pages 21-44, March.
    2. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    3. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    4. Donatella Porrini, 2002. "Frodi nell'assicurazione RC Auto: analisi economica e possibili rimedi," Rivista di Politica Economica, SIPI Spa, vol. 92(2), pages 109-138, March-Apr.
    5. Mary A. Weiss & Sharon Tennyson & Laureen Regan, 2010. "The Effects of Regulated Premium Subsidies on Insurance Costs: An Empirical Analysis of Automobile Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 77(3), pages 597-624, September.

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