Local religious beliefs and insurance companies' risk-taking behaviour

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<title>Local religious beliefs and insurance companies' risk-taking behaviour</title>
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<namePart>Xu, Jianren</namePart>
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<abstract displayLabel="Summary">We empirically examine the effect of local religious beliefs on the risk-taking behaviour of U.S. life insurers headquartered in that region. We distinguish between insurers that predominantly write annuities and insurers that predominantly write life insurance policies; the annuity business is relatively riskier than writing life insurance. Insurers headquartered in high-Catholic or low-Protestant areas are more likely to be annuity writers. Annuity writers located in high-Catholic or low-Protestant areas invest more in risky assets and exhibit higher investment return volatilities, as well as a higher volatility of their return on assets. Overall, our results suggest that local culture has significant influences on life insurers' behaviour</abstract>
<note type="statement of responsibility">Thomas R. Berry-Stölzle, Jianren Xu</note>
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<topic>Seguro de vida</topic>
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<topic>Religión</topic>
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<topic>Renta vitalicia</topic>
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<topic>Comportamiento social</topic>
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<geographic>Estados Unidos</geographic>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
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<text>04/04/2022 Volumen 47 Número 2 - abril 2022 , p. 242-278</text>
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