Real and illusory value creation by insurance companies

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      <subfield code="a">In this article, the authors will review a simple decomposition of the value of an insurance company. The decomposition illuminates the motivation for a variety of strategies that can be observed in practice. These strategies run the gamut from accounting manipulation through risk transfer schemes to positive net present value (NPV)"proyect" selection</subfield>
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      <subfield code="a">The Journal of risk and insurance</subfield>
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      <subfield code="t">The Journal of risk and insurance</subfield>
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      <subfield code="g">Volume 72, number 1, March 2005 ;  p. 1-21</subfield>
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