The paper examines efficiency and productivity of US property-liability (P-L) insurers using data envelopment analysis (DEA). We estimate pure technical, scale, cost, revenue and profit efficiency over the period 1993-2011. Insurers' adjacent year total factor productivity changes and their...

This paper reviews the most pertinent literature on the sources and uses of equity capital in the U.S. property-casualty (P-C) insurance industry. P-C insurers serve a risk management and risk bearing function in the economy. Insurers create diversified risk pools consisting of large numbers of...

This research investigates reinsurance counterparty relationships in U.S. property-liability insurance. Counterparty relationships are measured in terms of reinsurance premiums ceded and reinsurance recoverable on paid and unpaid losses. Multiple regression analysis is used to analyze insurer...

We investigate the role of organizational form and ownership structure in corporate governance by examining CEO turnover in the U.S. property-casualty insurance industry. The probability of non-routine turnover has a significant negative relationship with firm performance, and outside succession...

In this paper, we study two types of accounting conservatism in the property-liability (P&L) insurance industry – ex-ante and ex-post conservatism. Ex-ante conservatism means that firms over-report liabilities initially, before more detailed information becomes available. In contrast, ex-post...

This article reviews the most pertinent literature on the sources and uses of equity capital in the US property-casualty (P-C) insurance industry. P-C insurers serve risk management and risk-bearing functions in the economy. Insurers create diversified risk pools consisting of large numbers of...