Insurance guaranty funds have been adopted in all states to compensate policyholders for
losses resulting from insurance company insolvencies. The guaranty funds charge flat …

This paper examines the relationship between mergers and acquisitions, efficiency, and scale
economies in the US life insurance industry. We estimate cost and revenue efficiency over …

The objective of this paper is to provide new information on the performance of efficiency
estimation methods by applying a wide range of econometric and mathematical programming …

This chapter reviews the modern frontier efficiency and productivity methodologies that have
been developed to analyze firm performance, emphasizing applications to the insurance …

This paper investigates the capital and portfolio risk decisions of property-liability insurance
firms. A theoretical model based on option pricing theory is developed which predicts a …

This paper develops a model of price determination in insurance markets. Insurance is
provided by firms that are subject to default risk. Demand for insurance is inversely related to …

This article introduces a new approach, cross-frontier analysis, for estimating the relative
efficiency of alternative organizational forms in an industry. The technique is illustrated by …

Most prior analyses of underwriting cycles have explained cycles as a supply-side phenomenon
involving irrational behavior on the part of insurers. This paper proposes instead that …

One of the most significant economic developments of the past decade has been the
convergence of the financial services industry, particularly the capital markets and (re)insurance …

This paper conducts an event study analysis of the impact of operational loss events on the
market values of banks and insurance companies, using the OpVar database. We focus on …