Consolidation In The Property And Casualty Insurance Industry During The 1990s
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Consolidation in the Property and Casualty Insurance Industry During the 1990s by Christine Hinchley Pdf
During the last decade, the Canadian property and casualty insurance industry underwent considerable consolidation, which has resulted in a smaller number of non-government companies serving a larger share of the industry's market. After describing the industry's role, characteristics, financial performance, and importance to the overall economy, this article examines motivations for and evidence of consolidation in the property and casualty insurance industry between 1988 and early 2001. Findings include moderate financial growth overall despite a steady decrease in the number of licensed companies in the industry. The overall decrease in the number of companies is due more to market exits than mergers or amalgamations. Nevertheless, ownership changes have also increased the concentration of market share under the largest groups of affiliated insurance companies.
Consolidation in the Property and Casualty Insurance Industry During the 1990s [electronic Resource] by Christine Hinchley,Statistics Canada. Service Industries Division Pdf
Over the past decade, the Canadian property & casualty insurance industry underwent considerable consolidation, which has resulted in a smaller number of non-government companies serving a larger share of the market. After describing the industry's role, characteristics, financial performance, and importance to the overall economy, this article examines motivations for and evidence of consolidation in the property & casualty insurance industry between 1998 and early 2001.
Mr.Gianni De Nicolo,Philip F. Bartholomew,Jahanara Zaman,Ms.Mary G. Zephirin
Author : Mr.Gianni De Nicolo,Philip F. Bartholomew,Jahanara Zaman,Ms.Mary G. Zephirin Publisher : International Monetary Fund Page : 46 pages File Size : 43,6 Mb Release : 2003-07-01 Category : Business & Economics ISBN : 9781451857603
Bank Consolidation, Internationalization, and Conglomeration by Mr.Gianni De Nicolo,Philip F. Bartholomew,Jahanara Zaman,Ms.Mary G. Zephirin Pdf
This paper documents global trends in bank activity, consolidation, internationalization, and financial firm conglomeration, and explores the extent to which financial firm risk and systemic risk potential in banking are related to consolidation and conglomeration. We find that while there is a substantial upward trend in conglomeration globally, consolidation and internationalization exhibit uneven patterns across world regions. Trends in consolidation and conglomeration indicate increased risk profiles for large, conglomerate financial firms, and higher levels of systemic risk potential for more concentrated banking systems. We outline research directions aimed at explaining why bank consolidation and conglomeration do not necessarily yield either safer financial firms or more resilient banking systems.
Nothing Is Too Big to Fail by Kerry Killinger,Linda Killinger Pdf
No institution, government, or country is “too big to fail.” A behind-the-scenes account of what led to the 2008 crisis—and may soon lead to a bigger one. Written by two bank executives with firsthand experience of several financial crises, Nothing is Too Big to Fail holds a stiff warning about the future of finance and social justice—revealing how the US government’s fiscal and monetary policies are creating asset and debt bubbles that could burst at any time. The COVID-19 pandemic is just one of many risks that could derail our highly leveraged and fragile economic system. The authors also tell how government actions and an unregulated shadow banking system are leading to inequitable distribution of wealth, destroying the middle class, reducing trust in government, and accelerating racial injustice. No institution, government, or country is “too big to fail.” This book offers lessons learned from past crises and recommended actions for business and government leaders to take today to return our economic system and our democracy to a safer trajectory.
Strategies of Banks and Other Financial Institutions by Rajesh Kumar Pdf
How and why do strategic perspectives of financial institutions differ by class and region? Strategies of Banks and Other Financial Institutions: Theories and Cases is an introduction to global financial institutions that presents both theoretical and actual aspects of markets and institutions. The book encompasses depository and non-depository Institutions; money markets, bond markets, and mortgage markets; stock markets, derivative markets, and foreign exchange markets; mutual funds, insurance, and pension funds; and private equity and hedge funds. It also addresses Islamic financing and consolidation in financial institutions and markets. Featuring up-to-date case studies in its second half, Strategies of Banks and Other Financial Institutions proposes a useful theoretical framework and strategic perspectives about risk, regulation, markets, and challenges driving the financial sectors. Describes theories and practices that define classes of institutions and differentiate one financial institution from another Presents short, focused treatments of risk and growth strategies by balancing theories and cases Places Islamic banking and finance into a comprehensive, universal perspective
Broadband technology is ushering the telecom industry through a unique period of change with profound business implications for suppliers and users. This single source describes the four major broadband technologies that are shaping telecommunications networks: frame relay; optical fiber (including SONET); distributed queue dual bus (DQDB); and asynchronous transfer mode (ATM).
The Future of Insurance Regulation in the United States by Martin F. Grace,Robert W. Klein Pdf
A Brookings Institution Press and Georgia State University publication Important changes have buffeted the insurance industry over the past decade. The 1999 repeal of key provisions of the Glass-Steagall Act unleashed a wave of conglomeration in financial services, as bank holding companies acquired insurance and securities businesses and, to a much lesser degree, insurance companies acquired securities firms and banks. Rivalry within the sector has intensified: insurance companies have developed products that compete directly with the offerings of banks and securities firms and vice versa. In addition, the industry has become increasingly global. Against this backdrop, pressure has been building for fundamental changes to the structure of insurance regulation in the United States. Despite several court challenges over the years, insurance continues to be regulated by the states. Many insurance companies view state regulation as an increasing drag on their efficiency and competitiveness and support a federal regulatory system. However, powerful stakeholders, including state officials, state and regional insurance companies, and many insurance agents, oppose federal regulation. As a result, proposals to establish an optional federal charter (OFC) for insurance companies and agents remain mired in fierce debate. The Future of Insurance Regulation in the United States gathers some of the country's leading experts on financial regulation to assess the case for an enhanced federal role in the insurance sector. They pay particular attention to the merits of an OFC and how it might be designed. They also consider the principles that should guide insurance regulatory policies, regardless of the institutional framework, and examine the implications of financial convergence and the internationalization of insurance markets for an optimal regulatory structure. The debate over insurance regulation has only grown in complexity and intensity since the financial crisis began in the fall of 2008. This book will both inform and help to shape those critical discussions. Contributors: John A. Cooke (International Financial Services London), Robert Detlefsen (National Association of Mutual Insurance Companies), Martin F. Grace (Georgia State University), Robert W. Klein (Georgia State University), Robert E. Litan (Ewing Marion Kauffman Foundation and Brookings Institution), Phil O’Connor (PROactive Strategies), Hal S. Scott (Harvard Law School), Harold D. Skipper (Georgia State University), Peter J. Wallison (American Enterprise Institute).
Plunkett's Insurance Industry Almanac 2006: The Only Complete Reference to the Insurance and Risk Management Indu by Plunkett Research, Ltd Pdf
This carefully-researched book (which includes a database of leading companies on CD-ROM) is a complete insurance market research and business intelligence tool-- everything you need to know about the business of insurance and risk management.
Handbook of International Insurance by J. David Cummins,Bertrand Venard Pdf
Handbook of International Insurance: Between Global Dynamics and Local Contingencies analyzes key trends in the insurance industry in more than 15 important national insurance markets that represent over 90 percent of world insurance premiums. Well-known academics from Europe, the Americas and Asia examine their own national insurance markets, including the competitive structure, product and service innovations, and regulatory developments. The book provides academics and executives with an unprecedented range of information about today’s insurance markets. This book also provides important 'new' information on the evolution of the financial sector worldwide and comprehensive chapters on reinsurance, Lloyd’s of London, alternative risk transfer, South and East Asian insurance markets, and European insurance markets. Setting the stage is an overview chapter by the editors focusing on overall conclusions on globalization.
Valuing Specific Assets in Divorce by Robert D. Feder Pdf
This newly updated guide for matrimonial lawyers and accountants is the companion publication for Feder's Valuation Strategies in Divorce. In individual chapters, detailed information is provided on how to evaluate specific types of marital assets; the particular accounting and financial conventions that affect the owner's income from the asset and the value of the asset; and the rules, regulations and issues peculiar to the particular asset. The reader is also provided with checklists of documents needed to appraise the asset, sources of industry information, lists of trade associations and journals, a bibliography, and a case study and report. Part I on closely-held corporations contains chapters devoted to automobile dealerships, media companies, high-tech companies, property and casualty insurance companies, construction companies, and small businesses such as bars, restaurants and gas stations. Part II covers the evaluation of various professional practices, and Part III discusses the valuation of different types of real estate assets. Federal civil service pensions, military pensions and the pensions provided by Fortune 500 corporations are examined in Part IV. The methodologies for evaluating personal property, such as gems, jewelry, and oriental rugs are found in Part V. Besides aiding attorneys and accountants, this publication will be of great assistance to appraisers, actuaries, and pension experts.
World Insurance by Peter Borscheid,Niels Viggo Haueter Pdf
Since the end of the eighteenth century, the insurance industry has cast a safety net around the world, first in the British Isles and then further afield, irrespective of cultural, political and ideological divides. Unlike previous publications on insurance history, which tend to discuss the development of national markets or individual companies, this book focuses on the creation of networks across borders from the end of the eighteenth century to the present day. Distinguished international economic historians draw upon examples from twenty countries across the continents to demonstrate how what was called the 'British system' of risk management spread out in waves, and describes the forces that made this possible - first among them migration from Europe and international trade. The book explores the economic, political, religious, and cultural obstacles that blocked the path of this European invention - not only religious law and traditional practices, but above all protectionism, inflation, and political ideologies. It examines the process of transformation through which modern insurance supplanted traditional forms of protection against perils and risks and was able to keep on offering new ways of dealing with the risks of modern life. As well as discussing primary insurance, it also considers the role played by reinsurance, without which the losses arising out of today's natural and man-made disasters would be immeasurably greater. Finally, taking modern-day disaster scenarios as examples, the book shows just what the limits of insurability are and what risks worldwide networks entail.
