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On the Emergence of Private Insurance in Presence of Mutual Agreements

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Author Info
Bourlès, Renaud

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Abstract

The aim of this paper is to analyze the impact of the existence of mutual firms on the behavior of an insurance company and more precisely to study in which situations a private insurance firm may emerge in presence of an incumbent mutual firm. Our approach differs from the existing literature as we integrate the investment choices of the company and the fact that, because it commits on a fix contract, it can become insolvent. In such a situation we are able to characterize the unique optimal choices of an entrant company and the conditions favoring or preventing its appearance.

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File URL: http://mpra.ub.uni-muenchen.de/5821/
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File URL: http://mpra.ub.uni-muenchen.de/5827/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5821.

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Date of creation: 29 Jun 2007
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Handle: RePEc:pra:mprapa:5821

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Related research
Keywords: Insurance market Mutual firms Commitment Insolvency

Find related papers by JEL classification:
G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
D8 - Microeconomics - - Information, Knowledge, and Uncertainty
L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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This page was last updated on 2008-7-25.

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