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Competition and risk-taking behaviour in the non-life insurance market in South Africa

Recurso electrónico / electronic resource
Registro MARC
Tag12Valor
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008  180808e20180701che|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
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1001 ‎$0‎MAPA20150013941‎$a‎Latif Alhassan, Abdul
24510‎$a‎Competition and risk-taking behaviour in the non-life insurance market in South Africa‎$c‎Abdul Latif Alhassan, Nicholas Biekpe
520  ‎$a‎This study examines the non-linear effect of competition on risk-taking behavior in an emerging insurance market. The paper utilises annual firm-level data on 79 non-life insurance firms to estimate the Lerner index as the proxy for competition, while the z-score and standard deviation of loss ratio are employed as proxies for risk-taking behavior. Using the seemingly unrelated regression, quantile regression and system generalised method of moments techniques, we find evidence in support of the Martinez-Miera and Repullo hypothesis which suggests a non-linear inverted U-shaped relationship between competition and insurance solvency. We also document evidence to suggest that the competition-fragility effect is stronger for weaker insurers, indicating that competition has a greater destabilising effect on weaker insurers. Other significant predictors of solvency in the insurance market are identified as firm size, capitalisation, reinsurance, business line diversification and foreign ownership. Policy recommendations for improving industry stability are discussed.
650 4‎$0‎MAPA20080573935‎$a‎Seguros no vida
650 4‎$0‎MAPA20080598358‎$a‎Productos de seguros
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 4‎$0‎MAPA20080557591‎$a‎Competencia
650 4‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 4‎$0‎MAPA20080591922‎$a‎Mercados emergentes
650 4‎$0‎MAPA20080614324‎$a‎Indice de siniestralidad
650 4‎$0‎MAPA20080552701‎$a‎Solvencia
651 1‎$0‎MAPA20090043985‎$a‎Sudáfrica
7001 ‎$0‎MAPA20180012341‎$a‎Biekpe, Nicholas
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎02/07/2018 Volumen 43 Número 3 - julio 2018 , p. 492-519