Market discipline in life insurance : does public risk disclosure encourage less risky management actions?

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      <subfield code="a">Market discipline in life insurance</subfield>
      <subfield code="b">: does public risk disclosure encourage less risky management actions?</subfield>
      <subfield code="c">Moritz Hanika</subfield>
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      <subfield code="a">The study analyzes whether public risk disclosure under Solvency II reduces risk-taking by life insurers. Using data from 58 German insurers (20162023), it finds that changes in solvency ratios affect premium growth, surrender rates, and management decisions. Lower solvency leads insurers to adopt more conservative strategies to avoid negative customer reactions. A dynamic model shows that transparency can promote safer management, though its effectiveness depends on disclosure design and market conditions</subfield>
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      <subfield code="a">Seguro de vida</subfield>
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      <subfield code="g">17/11/2025 Volumen 92 Número 4 - noviembre 2025 , p. 909 - 949</subfield>
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      <subfield code="t">The Journal of risk and insurance</subfield>
      <subfield code="d">Nueva York : The American Risk and Insurance Association, 1964-</subfield>
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