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Systemic Risk of Insurers Around the Globe

Weiß, Gregor N.F.; Bierth, Christopher; Irresberger, Felix

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Authors

Gregor N.F. Weiß

Christopher Bierth



Abstract

We study the exposure and contribution of 253 international life and non-life insurers to systemic risk between 2000 and 2012. For our full sample period, we find systemic risk in the international insurance sector to be small. In contrast, the contribution of insurers to the fragility of the financial system peaked during the recent financial crisis. In our panel regressions, we find the interconnectedness of large insurers with the insurance sector to be a significant driver of the insurers’ exposure to systemic risk. In contrast, the contribution of insurers to systemic risk appears to be primarily driven by the insurers’ leverage.

Citation

Weiß, G. N., Bierth, C., & Irresberger, F. (2015). Systemic Risk of Insurers Around the Globe. Journal of Banking and Finance, 55, 232-245. https://doi.org/10.1016/j.jbankfin.2015.02.014

Journal Article Type Article
Acceptance Date Feb 15, 2015
Online Publication Date Feb 23, 2015
Publication Date 2015-06
Deposit Date Jul 23, 2020
Publicly Available Date Jul 24, 2020
Journal Journal of Banking and Finance
Print ISSN 0378-4266
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 55
Pages 232-245
DOI https://doi.org/10.1016/j.jbankfin.2015.02.014
Public URL https://durham-repository.worktribe.com/output/1265803

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