Purpose This study investigates the relationships between environmental, social, and
governance (ESG) controversies and insolvency risk in the insurance sector. Drawing from …

We analyze the relationship between bank size and risk-taking under the Basel II Capital
Accord. Using a model with imperfect competition and moral hazard, we show that the …

This article reviews the most pertinent literature on the sources and uses of equity capital in
the US property-casualty (PC) insurance industry. PC insurers serve risk management and …

Are some insurers relevant for the stability of the financial system? And if yes, what firm
fundamentals and aspects of insurers' business models cause them to destabilize an entire …

This paper provides the first cross-country study on the association between firms'
soundness and regulatory policies in the insurance industry. Measuring solvency with an …

Prior literature provides support both for the existence of target capital structures and internal
capital markets (ICM). The issue of whether firms use internal capital markets to reduce …

This paper analyses investment strategies of three types of Dutch institutional investors–
pension funds, life insurers and non-life insurers–over the period 1999–2005. We use …

Since the financial crisis of 2008, next to banks, insurers have received increasing attention
from researchers and regulators because of their crucial role in the financial system. A key …

Financial theory has long recognized the structural relationship between capital and risk.
This article posits reinsurance usage as a new endogenous decision variable and analyzes …

This paper is the first to examine the effects of consolidation in the international insurance
industry on the acquirers' contribution to systemic risk. We analyze a sample of 394 …