The financial impact of the implementation of Solvency II on the Mexican insurance sector

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<title>The financial impact of the implementation of Solvency II on the Mexican insurance sector</title>
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<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20220003933">
<namePart>Gavira Durón, Nora</namePart>
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<namePart>Mayorga Serna, Daniel</namePart>
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<namePart>Bagatella Osorio, Alberto</namePart>
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<abstract displayLabel="Summary">This paper examines the effects of the regulatory changes implemented in the Mexican insurance sector in adjustment to the international regulations of Solvency II imposed by the International Association of Insurance Supervisors. The effect of regulatory changes on the risk and performance levels of foreign entities was analysed and compared with their domestic counterparts. Using a difference-in-difference estimator, significant evidence that foreign insurance companies enhanced their default risk after complying with the law was found. The findings showed that the stability levels of domestic entities were negatively affected. No effect on the performance level for both types of entities was found. This study provides evidence that foreign entities were already prepared for the change in regulation, as opposed to domestic ones, due to their association with their foreign holdings.

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<note type="statement of responsibility">Nora Gavira-Durón, Daniel Mayorga Serna,  Alberto Bagatella Osorio</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080564254">
<topic>Solvencia II</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080586294">
<topic>Mercado de seguros</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080637781">
<geographic>México</geographic>
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<classification authority="">219</classification>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
<identifier type="local">MAP20077100215</identifier>
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<text>04/04/2022 Volumen 47 Número 2 - abril 2022 , p. 349-374</text>
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