Schuckmann, Stefan - Institut für Versicherungswirtschaft <Sankt Gallen> - 2007
. Gallen, Institute of Insurance Economics, Kirchli-
strasse 2, 9010 St. Gallen, Switzerland.
2
1990s (see European … interdependencies.
A third source for external effects is the cyclic nature of the insurance business.
Soft market periods with … company can decrease its cost-
per-unit ratio by increasing its output. In the insurance business, economies of
scale …