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On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market

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  • Muhammed Altuntas
  • James Garven
  • Jannes Rauch

Abstract

In this article, we view the demand for reinsurance as a “special case” of the corporate demand for insurance. We analyze the extent to which reinsurance purchases by the global property–liability insurance industry vary across countries and assess the relative importance of country‐level factors compared with firm‐level factors. Using a data set consisting of 21,814 firm‐year observations from 33 (developed and developing) countries during the period 2000–2012, we find that after controlling for firm‐level factors, country‐level factors have economically as well as statistically significant effects on the demand for reinsurance.

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  • Muhammed Altuntas & James Garven & Jannes Rauch, 2018. "On the Corporate Demand for Insurance: Evidence From the Global Reinsurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 21(2), pages 211-242, September.
    • Handle: RePEc:bla:rmgtin:v:21:y:2018:i:2:p:211-242
    DOI: 10.1111/rmir.12107
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