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Product-market strategy and underwriting performance in the United Kingdom’s property–casualty insurance market

Mike Adams, Vineet Upreti Orcid Logo, Jing Chen

The European Journal of Finance, Volume: 25, Issue: 11, Pages: 1012 - 1031

Swansea University Author: Vineet Upreti Orcid Logo

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DOI (Published version): 10.1080/1351847X.2019.1578676

Abstract

Drawing on a framework from the organizational economics literature, we utilize a panel data design to examine empirically the effect of motor insurance and liability insurance business on the overall underwriting performance of insurers operating in the United Kingdom’s (UK) property-casualty insur...

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Published in: The European Journal of Finance
ISSN: 1351-847X 1466-4364
Published: 2019
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URI: https://cronfa.swan.ac.uk/Record/cronfa48664
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Abstract: Drawing on a framework from the organizational economics literature, we utilize a panel data design to examine empirically the effect of motor insurance and liability insurance business on the overall underwriting performance of insurers operating in the United Kingdom’s (UK) property-casualty insurance market. We find that participation in liability insurance contributes positively to underwriting performance, whereas motor insurance is associated with inferior underwriting performance. Additionally, we find that higher reinsurance ratio is associated with better underwriting performance, but reduced profit margins. Our results show that higher leverage too is associated with better underwriting performance. We conclude that our results could have potentially important commercial and/or policy implications.
Keywords: strategic finance; underwriting performance; insurance; United Kingdom.
College: Faculty of Humanities and Social Sciences
Issue: 11
Start Page: 1012
End Page: 1031

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