We develop a theory that connects insurance premiums, insurance companies’ investment behavior, and equilibrium asset … prices. Consistent with the model's key predictions, we show empirically that (1) insurers with more stable insurance funding … take more investment risk and, therefore, earn higher average investment returns; (2) insurance premiums are lower when …

This paper discusses the insurance risks such as mortality risk, longevity risk, lapse risk, and expense risk in the … life insurance sector …

This study examines the geographical spillover of the state-level average homeowners insurance cost for 48 US … found a significant positive spillover of average homeowners insurance cost as indicated by a large spatial autoregressive … average homeowners insurance cost. We conduct several robustness tests and show that the baseline results are robust if …

In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that … insurance market individual application of classification schemes induces welfare losses due to cream skimming. Classification …