Financial integration within the European Union: Towards a single market for insurance
Our study analyses the extent of integration of the EU market for life and non-life insurance. The main integration indicator used is the market share (premium based) of foreign companies in domestic markets. For the calculation of this indicator, three different kinds of foreign presence are taken into account: foreign presence through merger and acquisitions, through branches and agencies and direct cross-border sales without physical presence. Whereas the static view reveals a high degree of national fragmentation the dynamic view indicates advancing integration. The results also show that integration is even less advanced for life than for non-life insurance and that mergers and acquisitions are the dominant strategy to access a foreign market. Besides summarising the liberalisation history of the European insurance sector and discussing consumer benefits from further integration, the study contributes to a better understanding of obstacles to insurance market integration.
|Date of creation:||2002|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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"Estimating the costs and benefits of EMU: The impact of external shocks on labour markets,"
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"Theoretische Konzepte zum Europäischen Integrationsprozeß: Ein aktueller Überblick
[Theoretical concepts for the process of European integration: A current overview]," MPRA Paper 35703, University Library of Munich, Germany.
- Beckmann, Rainer & Eppendorfer, Carsten & Neimke, Markus, 2002. "Market Access Strategies in the EU Banking Sector - Obstacles and Benefits towards an integrated European Retail Market," MPRA Paper 5273, University Library of Munich, Germany.
- Ansgar Belke, 2001. "Too Big to Fail: Bankenkonkurs, "Bailout" und Wählerstimmenkalkül," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 192/2001, Department of Economics, University of Hohenheim, Germany.
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- Ansgar Belke & Carsten Eppendorfer & Jens Michael Heine, 2002. "Zur Bedeutung unterschiedlicher Finanzmarktstrukturen für den geldpolitischen Transmissionsmechanismus in der EWU," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 200/2002, Department of Economics, University of Hohenheim, Germany.
- Beckmann, Rainer & Eppendorfer, Carsten & Neimke, Markus, 2002. "Deepening European Financial Integration: Theoretical Considerations and Empirical Evaluation of Growth and Employment Benefits," MPRA Paper 5272, University Library of Munich, Germany.
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