This paper studies the demand drivers for life insurance, both lump sum and annuity, using the Bank of Italy (SHIW) panel dataset 2004-2012. We consider both participation and invested amounts. Our results point at a role of financial inclusion as pivotal in shaping life insurance demand,...

The purpose of this study is to estimate the influence of microeconomic determinants for men and women on life insurance purchase decisions. Indeed, only a few papers have tried to justify rigorously the gender-based differences in life insurance ownership. Based on survey data collected by the...

We analyze theoretically how financial synergies among bank affiliates affect banks' choice of organizational structure in branches or subsidiaries characterized by different arrangements for internal insurance against affiliates' default. Financial synergies may be generated by reduced default...

Whenever a new financial product is offered by the financial industry, a rational investor faces a trade off between diversification benefits and costs of "getting to know" the newly introduced asset. In this paper the investor who can diversify can also decide either to pay a fee and separate...