Centro de Documentacion de Fundación MAPFRE - Stock versus mutual ownership structures : the risk implications

MAP20090035102

Stock versus mutual ownership structures : the risk implications / Joan Lamm-Tennant, Laura T. Starks

Sumario: This article provides empirical tests of the risk differences between two types of ownership structure in the property-liability insurance industry. Empirical evidence is provided that suggests stock insurers have more risk than mutuals where the risk inherent in future cash flows is proxied by the variance of the loss ratio. Further evidence suggests that stock insurers write relatively more business than do mutuals in lines and states having higher risk

En: Journal of business .- Chicago : University of Chicago Press. - nº 1, Vol. 66, 1993 ; p. 29-46

1. Empresas de seguros . 2. Mutualidades de seguros . 3. Estructura empresarial . I. Starks, Laura T. . II. Title.