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Increasing the Competitiveness of Reinsurance Companies through Corporate Social Responsibility Practices

Author

Listed:
  • Iamandi Irina-Eugenia

    (Bucharest Academy of Economic Studies, Faculty of International Business and Economics)

  • Constantin Laura-Gabriela

    (Bucharest Academy of Economic Studies, Faculty of International Business and Economics)

Abstract

The present paper aims to highlight the role of sustainable solutions for increasing the competitiveness of the reinsurance companies in the current economic and social context. The paper is structured into five parts: an introduction about present role of CSR as a factor promoting the competiti-veness of the responsible companies; a brief presentation of CSR in the insurance sector; an empirical evaluation of the CSR of Munich Re and Swiss Re, the reinsurance leaders; an analysis of the products – mainly, insurance-linked securities – of reinsurance companies for increasing their sustainability involvement, followed by a presentation of the customized products of Munich Re and Swiss for complying with the most recent economic and social needs; conclusions and recommendations. The main conclusion of the study is that incorporating sustainability solutions and CSR practices into day-to-day insurance products could lead to an essential increase in competitiveness for the insurance and reinsurance companies.

Suggested Citation

  • Iamandi Irina-Eugenia & Constantin Laura-Gabriela, 2011. "Increasing the Competitiveness of Reinsurance Companies through Corporate Social Responsibility Practices," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 598-603, May.
    • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:598-603
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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/volum2011p2.pdf
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    Citations

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    Cited by:

    1. Alina Filip & Cristian Ionuţ Tatu, 2012. "Corporate image in Romanian retail banking market," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 15(46bis), pages 63-78, December.
    2. Constantin Laura-Gabriela & Iamandi Irina-Eugenia, 2014. "Revealing The Sustainable Development Equilibrium Through Catastrophe Bonds, Social Corporate Engagement And Economic Performance For The European Reinsurance Industry," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 35-43, December.

    More about this item

    Keywords

    Corporate Social Responsibility (CSR); Reinsurance Companies; Socially Responsible Investments (SRI); Insurance-Linked Securities (ILS); Catastrophe (CAT) Bonds;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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