An Analysis of Reinsurance and Firm Performance : Evidence from the Taiwan Property-Liability Insurance Industry

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<title>An Analysis of Reinsurance and Firm Performance</title>
<subTitle>: Evidence from the Taiwan Property-Liability Insurance Industry</subTitle>
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<namePart>Lee, Hsu-Hua</namePart>
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<abstract displayLabel="Summary">This study investigates the relationship between reinsurance and firm performance by sourcing panel data from the 1999 to 2009 period of the property-liability insurance industry in Taiwan. The results of this investigation offer some insight that firm performance and reinsurance are interdependent. We find that insurers with higher return on assets (ROA) tend to purchase less reinsurance and insurers with higher reinsurance dependence tend to have a lower level of firm performance. Therefore, managers have to strike a balance between decreasing insolvency risk and reducing potential profitability. Other empirical results show that ROA, underwriting risks, liquidity ratio, business line concentration, return on investment (ROI) and financial holding dummy have a significant correlation with reinsurance. In addition, firm size, financial leverage, reinsurance, underwriting risks, liquidity ratio and ROI have a significant influence on firm performance. Our results have practical implications for the property-liability insurance industry and competent authorities in Taiwan.</abstract>
<note type="statement of responsibility">Hsu-Hua Lee, Chen-Ying Lee</note>
<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080552367">
<topic>Reaseguro</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080548766">
<topic>Property</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080551490">
<topic>Liability</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080586294">
<topic>Mercado de seguros</topic>
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<topic>Empresas de reaseguros</topic>
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<topic>Rentabilidad</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20120019256">
<geographic>Taiwan</geographic>
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<classification authority="">5</classification>
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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>
<identifier type="local">MAP20077100215</identifier>
<part>
<text>02/07/2012 Volumen 37 Número 3  - julio 2012 , p. 467-484</text>
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