Bierth, C, Irresberger, F orcid.org/0000-0002-7181-9190 and Weiß, GNF (2015) Systemic risk of insurers around the globe. Journal of Banking & Finance, 55. pp. 232-245. ISSN 0378-4266
Abstract
We study the exposure and contribution of 253 international life and non-life insurers to systemic risk between 2000 and 2012. For our full sample period, we find systemic risk in the international insurance sector to be small. In contrast, the contribution of insurers to the fragility of the financial system peaked during the recent financial crisis. In our panel regressions, we find the interconnectedness of large insurers with the insurance sector to be a significant driver of the insurers’ exposure to systemic risk. In contrast, the contribution of insurers to systemic risk appears to be primarily driven by the insurers’ leverage.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2015, Elsevier B.V. This is an author produced version of a paper published in the Journal of Banking & Finance. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Systemic risk; Insurer size; Interconnectedness; Insurance |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 21 Mar 2018 16:44 |
Last Modified: | 05 Apr 2018 07:19 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.jbankfin.2015.02.014 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:120777 |
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