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Bancassurance and scale economies : evidence from Italy

Recurso electrónico / electronic resource
MARC record
Tag12Value
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001  MAP20150004468
003  MAP
005  20150209165102.0
008  150126e20150105esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎219
1001 ‎$0‎MAPA20150005243‎$a‎Dreassi, Alberto
24510‎$a‎Bancassurance and scale economies‎$b‎: evidence from Italy‎$c‎Alberto Dreassi, Maria Claudia Schneider
520  ‎$a‎Integration between banks and insurers is a widely investigated trend in financial markets. Despite heterogeneity of bancassurance across countries, the financial crisis is reshaping both intermediaries and customers' demand. Although previous research provides evidence of economies of scale in bancassurance, we add to this literature by investigating differences due to alternative ownership models over an extended period (1998-2012) and testing for the effects of the financial crisis through a translog cost function. We focus on the Italian market, where bancassurance plays a major role and all ownership models are present. We find that the cost function changed significantly after 2007 as new unexploited scale economies emerged, especially for independent insurers that showed earlier optimal returns to scale. More integrated groups, despite a remarkable difference in their trend for total costs, diverge in a similar fashion from independent insurers in terms of scale economies.
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 4‎$0‎MAPA20080561482‎$a‎Bancaseguros
650 4‎$0‎MAPA20080590468‎$a‎Economía del seguro
650 4‎$0‎MAPA20080590482‎$a‎Economías de escala
650 4‎$0‎MAPA20120019492‎$a‎Tendencias
650 4‎$0‎MAPA20080579784‎$a‎Costes económicos
650 4‎$0‎MAPA20080601492‎$a‎Estudios comparativos
650 4‎$0‎MAPA20110024864‎$a‎Modelos de negocio
651 1‎$0‎MAPA20080637767‎$a‎Italia
7001 ‎$0‎MAPA20150006011‎$a‎Schneider, Claudia
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎05/01/2015 Volumen 40 Número 1 - enero 2015 , p. 89-107