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The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market

Vineet Upreti Orcid Logo, Mike Adams

Journal of Banking & Finance, Volume: 61, Pages: 206 - 219

Swansea University Author: Vineet Upreti Orcid Logo

DOI (Published version): 10.1016/j.jbankfin.2015.09.010

Abstract

We demonstrate that by increasing the level of reinsurance, primary insurers increase their product-market share at the expense of rivals with lower reinsurance coverage in five main lines of insurance in the United Kingdom’s (UK) non-life insurance market. We use panel data drawn from statutory fil...

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Published in: Journal of Banking & Finance
Published: 2015
URI: https://cronfa.swan.ac.uk/Record/cronfa23363
first_indexed 2015-09-19T02:09:02Z
last_indexed 2018-10-27T12:34:13Z
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recordtype SURis
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spelling 2018-10-27T09:21:45.4749225 v2 23363 2015-09-18 The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market 8f0fcae811cfbfabf93901185944c055 0000-0002-9803-7551 Vineet Upreti Vineet Upreti true false 2015-09-18 CBAE We demonstrate that by increasing the level of reinsurance, primary insurers increase their product-market share at the expense of rivals with lower reinsurance coverage in five main lines of insurance in the United Kingdom’s (UK) non-life insurance market. We use panel data drawn from statutory filings made by non-life insurers to the then UK regulator (FSA) over 1985 to 2010 period. We find that the influence of reinsurance and other financial variables on insurers’ growth in product-market share varies across lines of insurance business. Since reinsurance impacts on product-market outcomes in competitive non-life insurance industry, we conclude that reinsurance performs an important strategic function in insurance markets. Journal Article Journal of Banking & Finance 61 206 219 Reinsurance; Insurance; Strategy; United Kingdom 30 9 2015 2015-09-30 10.1016/j.jbankfin.2015.09.010 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University 2018-10-27T09:21:45.4749225 2015-09-18T23:28:03.5469270 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Vineet Upreti 0000-0002-9803-7551 1 Mike Adams 2 0023363-23122015112136.pdf UpretiTheStrategicRoleofReinsuranceintheUnitedKingdomsNonLifeInsuranceMarketPostPrint.pdf 2015-12-23T11:21:36.9100000 Output 1235356 application/pdf Accepted Manuscript true 2017-03-25T00:00:00.0000000 true
title The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
spellingShingle The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
Vineet Upreti
title_short The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
title_full The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
title_fullStr The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
title_full_unstemmed The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
title_sort The strategic role of reinsurance in the United Kingdom’s (UK) non-life insurance market
author_id_str_mv 8f0fcae811cfbfabf93901185944c055
author_id_fullname_str_mv 8f0fcae811cfbfabf93901185944c055_***_Vineet Upreti
author Vineet Upreti
author2 Vineet Upreti
Mike Adams
format Journal article
container_title Journal of Banking & Finance
container_volume 61
container_start_page 206
publishDate 2015
institution Swansea University
doi_str_mv 10.1016/j.jbankfin.2015.09.010
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
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description We demonstrate that by increasing the level of reinsurance, primary insurers increase their product-market share at the expense of rivals with lower reinsurance coverage in five main lines of insurance in the United Kingdom’s (UK) non-life insurance market. We use panel data drawn from statutory filings made by non-life insurers to the then UK regulator (FSA) over 1985 to 2010 period. We find that the influence of reinsurance and other financial variables on insurers’ growth in product-market share varies across lines of insurance business. Since reinsurance impacts on product-market outcomes in competitive non-life insurance industry, we conclude that reinsurance performs an important strategic function in insurance markets.
published_date 2015-09-30T03:44:23Z
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