Actuarial Surplus Management in United Kingdom Life Insurance Firms

Autor:	Mike Adams, Philip Hardwick
Rok vydání:	2003
Předmět:	Product (business) Reinsurance Organizational form Actuarial science Accounting Life insurance Diversification (finance) Business Management and Accounting (miscellaneous) Business Finance Stock (geology) Test (assessment)
Zdroj:	Journal of Business Finance Accounting. 30:891-904
ISSN:	1468-5957 0306-686X
Popis:	This study uses 1991–99 data gathered from the United Kingdom's life insurance industry to test empirically the notion that the reported annual surplus of a life insurer may be influenced by four firm-specific characteristics: namely, reinsurance, output mix, organizational form and firm size. Consistent with expectations, the results indicate that the annual reported surplus is positively related to reinsurance and firm size and negatively related to the degree of product diversification. Contrary to our expectations, however, we find no evidence that proprietary (stock) life insurers tend to report higher annual surpluses than mutual life insurers.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::29ddc0a0c70c8e6b1b8f030d41b1b39f https://doi.org/10.1111/1468-5957.05505 Zobrazit plný text záznamu Plný text ve formátu PDF