Competition, efficiency and soundness in European life insurance markets

被引：68

作者：

Cummins, J. David ^{[1
]}

Rubio-Misas, Maria ^{[2
]}

Vencappa, Dev ^{[3
]}

机构：

[1] Temple Univ, RIHM Dept, 617 Alter Hall,006-00,1801 Liacouras Walk, Philadelphia, PA 19122 USA

[2] Univ Malaga, Finance & Accounting Dept, Campus El Ejido, E-29071 Malaga, Spain

[3] Univ Nottingham, Sch Business, Jubilee Campus, Nottingham NG8 1BB, England

来源：

JOURNAL OF FINANCIAL STABILITY | 2017年 / 28卷

关键词：

Competition; Soundness; Boone indicator; European life insurers; Financial crisis; RISK; CONSOLIDATION; COMPANIES; PRODUCTIVITY; REGULATIONS; PERFORMANCE; GROWTH;

D O I：

10.1016/j.jfs.2016.11.007

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper provides cross-country evidence on the association between soundness and competition in the life insurance industry, where competition is measured by the Boone indicator. We analyse 10 European Union (EU) life insurance markets over the post-deregulation period 1999-2011. The results indicate that competition increases the soundness of the EU life insurance markets. Since the Boone indicator measures competition based on the reallocation of profits from inefficient insurers to efficient ones, our results suggest that efficiency is the mechanism through which competition contributes to insurer solvency. The soundness-enhancing effect of competition is greater for weak insurers than for healthy ones. (C) 2016 Elsevier B.V. All rights reserved.

引用

页码：66 / 78

页数：13

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