umu.sePublikasjoner
Endre søk
RefereraExporteraLink to record
Permanent link

Direct link
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annet format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annet språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf
The determinants of reinsurance in the Swedish property fire insurance market during the interwar years, 1919–39
Centre for Risk and Insurance Studies, University of Nottingham, Nottingham,.
Swansea University, UK.
Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för ekonomisk historia.
Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för ekonomisk historia.ORCID-id: 0000-0002-3293-2318
2010 (engelsk)Inngår i: Business History, ISSN 0007-6791, E-ISSN 1743-7938, Vol. 52, nr 2, s. 268-284Artikkel i tidsskrift (Fagfellevurdert) Published
Abstract [en]

Drawing a framework from agency theory, we use a panel data design to examine the factors motivating the level of demand for reinsurance in the rapidly developing Swedish property fire insurance market during the interwar period 1919–39. We find that as hypothesised, reinsurance enabled Swedish fire insurers to mitigate underwriting and solvency risks and thus increased their capacity to underwrite new business in uncertain economic times. This in turn helped to increase the supply of indemnity coverage for property (buildings) fire risks in the Swedish insurance market. We also find that as expected, investment earnings are inversely related to reinsurance purchases. However, contrary to what was hypothesised, reinsurance appears to be positively related to liquidity levels, suggesting that over our period of analysis, fire insurers could have been reinsuring to ‘protect’ earnings and accumulated cash reserves therefore enabling investment opportunities to be realised. Analysis of the sub-period 1919–28 further supports this contention, while our results for the economic depression years after 1929 show that reinsurance helped mitigate underwriting and insolvency risks, suggesting that the reinsurance decision of fire insurance companies could be motivated by macroeconomic factors.

sted, utgiver, år, opplag, sider
Taylor & Francis Group, 2010. Vol. 52, nr 2, s. 268-284
Emneord [en]
interwar period, Sweden, fire insurance, reinsurance
HSV kategori
Forskningsprogram
ekonomisk historia
Identifikatorer
URN: urn:nbn:se:umu:diva-33038DOI: 10.1080/00076791003610683ISI: 000277492700005Lokal ID: 881253OAI: oai:DiVA.org:umu-33038DiVA, id: diva2:309679
Prosjekter
The historical development of the Swedish insurance industry
Forskningsfinansiär
Riksbankens Jubileumsfond, P2006-0679:1-ETilgjengelig fra: 2010-04-08 Laget: 2010-04-08 Sist oppdatert: 2019-02-15bibliografisk kontrollert

Open Access i DiVA

Fulltekst mangler i DiVA

Andre lenker

Forlagets fulltekst

Personposter BETA

Andersson, Lars FredrikLindmark, Magnus

Søk i DiVA

Av forfatter/redaktør
Andersson, Lars FredrikLindmark, Magnus
Av organisasjonen
I samme tidsskrift
Business History

Søk utenfor DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric

doi
urn-nbn
Totalt: 1224 treff
RefereraExporteraLink to record
Permanent link

Direct link
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annet format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annet språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf