Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macro-economic role and risks of insurance markets are surprisingly limited. The core motivation for publishing this book is to bring together academics,...

This textbook presents the fundamental economic dimensions of insurance companies and links them to managerial issues. Combining academic rigour and a strongly practice-oriented approach, it addresses both the competitive environment and the management of the insurance business. Further, it...

Part I: Fundamentals of insurance business The origins and role of insurance in society -- The notion of risk and probability -- The insurance undertaking -- Regulation of the insurance industry -- Supervision and other Authorities -- The insurance business -- The insurance contract -- Life...