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Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
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008  191002e20191001che|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎5
1001 ‎$0‎MAPA20140024940‎$a‎Chang, Vincent Y.
24510‎$a‎Does reinsurance purchasing enhance insurers' competitiveness? Evidence from the U.S. property-liability insurance industry‎$c‎Vincent Y. Chang
520  ‎$a‎This 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 competitors
650 4‎$0‎MAPA20080602529‎$a‎Mercado de reaseguros
650 4‎$0‎MAPA20080568399‎$a‎Competitividad
650 4‎$0‎MAPA20080624934‎$a‎Seguro de daños patrimoniales
650 4‎$0‎MAPA20080593469‎$a‎Seguros de empresas
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎01/10/2019 Volumen 44 Número 4 - octubre 2019 , p.595-623