This study points out a potential unintended effect of efforts to enhanceaffordability of insurance prices by regulating rates: It may ultimately lead tohigher insurance costs. This is because rate regulation that suppresses insuranceprices below competitive levels, or provides significant...

This paper examines the relationship between mergers and acquisitions, efficiency, and scale economies in the US life insurance industry. We estimate cost and revenue efficiency over the period 1988-1995 using data envelopment analysis (DEA). The Malmquist methodology is used to measure changes...