Performance of the life insurance industry under pressure : efficiency, competition and consolidation

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Título: Performance of the life insurance industry under pressure : efficiency, competition and consolidation / Jacob A. Bikker

Notas: Sumario: This article investigates efficiency and competition in the Dutch life insurance market by estimating unused scale economies and measuring efficiency-market share dynamics during 19952010. Large unused scale economies exist for small- and medium-sized life insurers, indicating that further consolidation would reduce costs. Over time average scale economies decrease but substantial differences between small and large insurers remain. A direct measure of competition confirms that competitive pressure is lower than in other markets. We do not observe any impact of increased competition from banks, the so-called investment policy crisis or the credit crisis, apart from lower returns in 2008.

Otras clasificaciones: 341

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