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Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry
Recurso electrónico / Electronic resource
Section: Articles
Title: Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry / Vincent Y. ChangAuthor: Chang, Vincent Y. ‌
Notes: Sumario: This study investigates whether firms that purchase more strategic reinsurance ex ante could enhance their competitiveness in the output market ex post for the U.S. property-liability insurance industry. The empirical results show that reinsurance purchasing does not increase insurers' competitiveness ex post, which contradicts the prediction of the strategic commitment hypothesis. A plausible explanation is that the U.S. property-liability industry tends to be a completely competitive market and not an oligopoly. In addition, reinsurance purchasing seems to be regarded as an insurer's operational characteristic and not to be treated as a strategic demand for sending an aggressive signal on the output market to its competitorsRelated records: En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 01/10/2019 Volumen 44 Número 4 - octubre 2019 , p.595-623Materia / lugar / evento: Mercado de reaseguros ‌Competitividad ‌Seguro de daños patrimoniales ‌Seguros de empresas ‌Other categories: 5
Rights: In Copyright (InC)
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