This article reviews the extant research on systemic risk in the insurance sector and outlines
new areas of research in this field. We summarize and classify 48 theoretical and empirical …

This article examines the potential for the US insurance industry to cause systemic risk
events that spill over to other segments of the economy. We examine primary indicators of …

During the financial crisis, life insurers sold long-term policies at deep discounts relative to
actuarial value. The average markup was as low as− 19 percent for annuities and− 57 …

Accounting rules, through their interactions with capital regulations, affect financial
institutions' trading behavior. The insurance industry provides a laboratory to explore these …

What a pleasure it is to discover the second edition of the Handbook of Insurance, edited by
Georges Dionne, 12 years after the first! Almost all original basic texts are there, for the most …

Banks' financial reporting requirements and discretionary choices may affect financial
stability by altering one or more of the likelihood that banks violate regulatory capital …

Financial intermediaries often provide guarantees resembling out-of-the-money put options,
exposing them to undiversifiable tail risk. We present a model in the context of the US life …

In this paper we compare the Islamic insurance industry (Takaful) to the conventional
insurance across 14 countries over the 2005–2014 period. Our methodology relies on panel …

This paper provides empirical evidence to investigate the direct impact of financial
liberalization on the likelihood of currency/systemic banking crises, and examines the roles …

This paper investigates the impacts of globalization, political institutions, and financial
liberalization on the performance and risk-taking of insurance firms covering 1324 individual …