Under pressure : investment behaviour of insurers under different financial and regulatory conditions

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      <subfield code="a">Under pressure</subfield>
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      <subfield code="a">Firms that have losses are expected to sell tax-free securities and replace them with taxable securities since they can no longer benefit from tax savings. However, after the most recent financial crisis, firms' decisions to rebalance their investment portfolios may have led to additional losses during a period of stressed financial performance and increased insurance regulation. This study examines portfolio allocation behaviour in the property and casualty insurance industry. The results sow that investment limitations imposed by insurance regulators can inhibit desired investment allocation post the financial crisis.</subfield>
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      <subfield code="g">01/01/2021 Volumen 46 Número 1 - enero 2021 , p. 1-21</subfield>
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