Literature Review On Insurance Company - PDF - Systemic Risk - Insurance

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Literature Review On Insurance

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CHAPTER II
REVIEW OF LITERATURE
2.1 INTRODUCTION
The Review of literature presented for both national and internationa

reviews considered in practice efficiency of productivity, efficiency
performance, profitability of the insurance sector, growth of insurance sector
and other factors relating to this study. It also identifies the research gap.
2.2 REVIEW OF LITERATURE
1
Ade Ibiwoye (2010) in his paper entitled “Evaluating Fina
roductivity! " comparison of Ratios, Inde# numbers and Frontier $ethods%
financial performance of the select insurance companies and to determine th
go by way of efficient operators. In this study when only one output is used
single productivity and multiple outputs are used to measure multiple prod
main types financial ratios are analy&ed li'e li(uidity, leverage, activity an
ratios are measured to ma'e financial performance comparisons.
2
Ade Ibiwoye, o!e"# O, Ide$i, %&b&'de O. O*e (2010)
entitled “The determinants of )ife Insurance *onsumption in +igeria! a
approach% e#amine the determinant of life insurance consumption in +ige
period -/0 1 2003 within an error correction framewor'. *ointegrat
revealed that Real 4ross 5omestic roduct 6R457 and S" positively an
influence )ife Insurance *onsumption 6)I*7 in +igeria while indigeni&ati
5omestic Interest Rate 65IR7 are statistically significant but inversely r
Insurance *onsumption 6)I*7. 8n the other hand, the authors discover that
Investment 6R8I7, Inflation Rate 6IR7, openness of the economy 68E+
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instability are insignificant predictors of )ife Insurance *onsumption 6)I*7
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significant at - percent with a feedbac' effect of about 39 percent. The e#pl
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of the independent variables is also strong at about : percent. The 5
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
Ade+! +o!e, Pe'e+ L.C#'e, .R-e!e (2002) in their pap
insurance )iabilities at $ar'et value! an "nalysis of Insolvency ris', bon
Regulatory Intervention rules in a barrier option framewor'% discuss a con
approach to the mar'et valuation of e(uity and liabilities in life insurance co
formulas are useful from two perspectives. Firstly, they can be implemente
the set of parameters that characteri&es initially fair contracts in the sense th
valuation of the contingent contract corresponds to the initial premium.
model can be used for fair mar'et valuation of the e(uity and liability
company<s balance sheet after the inception of the contracts.

Aoo" R&i (1//) in his article “*ost Efficiency of Internatio
Firms% discussed the cost efficiency of insurance firms located in -- diffe
over a fiveyear period, -99-2 is e#amined by estimating firm level =
In his article two methods of measuring #inefficiency are used. 8ne is the
frontier model, which assumes a halfnormal error, and the other is distributi
which assumes that the errors will average to &ero over time. The result
inefficiencies not only vary by country but by si&e and speciali&ation. Firms
France have the lowest #inefficiency, while firms in the >nited ?ing
highest. 8n average, small firms are more cost efficient than large firms wor
6
C&+oe %e+&+d &d C#+i!'i&e Le3ie4 (2005) in their p
Fast Simulation of E(uity )in'ed life insurance *ontracts with a Surr
discussed e(uitylin'ed life insurance contracts that give their holder to the
surrender their policy before maturity. In this type of policies are valued us
methods proposed for the pricing of "merican options, but the mortality ris
ta'en into account when pricing such contracts In this paper the authors u
ta'en into account when pricing such contracts. In this paper the authors u
s(uares $onte *arlo approach of )ong staff and Schwart& coupled with
*arlo sampling and a control variety in order to construct efficient estimator
of such contracts. of 25 
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
C#&+&! L. (200/) in his paper “Investors choice 1 )I* @s riv
*ompanies% concludes that in the postliberali&ation era in India, ther
and international
phenomenal )ife
growth Insurance
in the *ompanies,
insurance sector withsee India as aofland
a population overofone
oppor
bil
mar'et for big business. >ntill -, the business of life insurance in
monopoly of )ife Insurance *orporation of India 6)I*7. Aowever, now con
has been observed in the private insurance mar'ets. The life insurance mar
emerging and growing at the rate of B2B:per cent in the year 200.
8
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C#&- (200) intohis
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article this
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“Establishing a
rediction $odel for Insurance *ompanies% discussed the solvency and cont
of insurance companies in Taiwan. The author selected 20 insurance compan
and used them to try to separate - items of financial ratio operation indica
performance evaluation variables of insurance companies. The five ind
*apital Structure, rofitability, Solvency, $anagement Efficiency, and *apit
*apability. Result indicated that both return on assets and sign of profitabil
heavier financial ratio as well as inde# on performance. The results also ind
overall continuance of performance of insurance was significant in the short
period 20002002.
5
C33i! (1//) in this paper e#amined technical efficiency an
growth in the Italian Insurance mar'et. The study measured technical
productivity growth by estimating production frontier based on a sample
insurance companies for the period -93. To analy&e these inputorie
functions, 5E" was used and productivity growth was measured using $al
which were decomposed into technical efficiency change and technical chan
used benefits plus changes in reserves as output in life insurance and incurr
invested assets as output in nonlife insurance. The inputs used were ac(u
e pense administrati e labo r e pense fi ed capital and e( it capital

e#pense, administrative labour e#pense, fi#ed capital and e(uity capital.
concluded that technical efficiency in the Italian insurance industry ranged
per cent during the study period. Aowever, productivity declined signific
of 25
sample period, with a cumulative decline ofabout 23 per cent. It was im
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insurers needed more inputs to produce their outputs at the end of the peri
beginning. It was observed that in a dynamically changing environment
perhaps
might be leading to e#cessive
adopting consumption
new approaches to of inputs even
produce their by the Cbest
outputs. practp
This
increase in thefor
opportunities comple#ity of insurance
firms to ma'e mista'es products and mar'ets
in the choice could have a
of technology,
The research concluded that the firms that fail to improve are li'ely to be pe
mar'et.
/
C33i! &d Wei!! (1//5) in their paper entitled, “"n
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modern frontier efficiency methodologies which were rapidly becoming
approach for measuring a firm<s performance. These methodologies esti
technical, cost, revenue and profit frontiers by comparing each firm in the
reference set consisting of all other firms. The econometric approach involve
cost, revenue or profit function, while the mathematical programming appro
implemented using linear programming. The implementation that is used m
is 5ata Envelopment "nalysis 65E"7. The authors concluded that fron
methods dominate traditional techni(ues in terms of developing meaningfu
measures of insurance firm performance.
10
D&9id C33i! .  &d :&+y A. Wei! (2010) in their pa
Ris' and the >.S. Insurance Sector% e#amines the potential for the >.S. insu
to cause systemic ris' events that spill over to other segments of the econom
e#amine primary indicators that determine whether institutions are system
well as contributing factors that e#acerbate vulnerability to systemic events
systemic ris' is based on a detailed financial analysis of the insurance indu
the economy, and the interconnectedness of insurers.
11
D&9id C33i!, :&+y Wei!!, &d Ho-3i ;i (200)

“Economies of Scope in Financial Services! " 5E" Dootstrapping "naly

Insurance Industry% This paper investigates economies of scope in the >
industry over the period -B -/. In their paper test for economie
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estimating technical, cost, and revenue efficiency utili&ing data envelop
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65E"7. The result shows only wea' evidence for the e#istence of economi
the >.S. insurance industry. "lthough diversified firms dominate spec
lifehealth and propertyliability insurance, specialist firms dominate divers
production of diversified firm output vectors in terms of revenue efficiency f
the production of specialist output vectors in revenue efficiency and
diversified firms in cost efficiency for propertyliability output vectors.
12
&+- &d Dee"'i (2005) in their paper, CEfficiency of 4en
Industry in India in the ost )iberali&ation Era! " 5ata Envelopme
Please purchase compared the technical and scale efficiency of twelve general insurance
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India for the period 20020B to 20030 by using outputoriented 5ata
"nalysis 65E"7. Three models of input and output were used. $odel I repre
net premium income and input as number of agents, operating e#pen
represents output as operating income and inputs as number of agents, oper
and e(uity capital. The results showed that among the public sector gen
companies, +ew India is the only company which turned out to be technical
both constant returns to scale and variable returns to scale for the whole pe
"mong the private insurers, A5F* *hubb managed to retain -00 per cent
the last three years on both @RS G *RS. "verage efficiency results indicat
private insurers lag behind public insurers, they are fast catching up and
scores of private insurers seem to improve.
1
H&i<e#=&de# L&'i< (2011) in the paper entitled “ Studying th
8wnership and Efficiency of Insurance *ompanies in Iran% The purpose o
determining the suitable structure of ownership to increase the efficiency
companies. This study evaluated the comparison between the governmental c
the other private companies with legal bloc' structures. The 5ata Envelop
65E"7 and Financial ratios li'e -. )i(uidity ratios 2. )everage ratios B. "c
rofitability ratios 3 $ar'et ratios are used in organi&ations to analy&e the
rofitability ratios 3. $ar'et ratios. are used in organi&ations to analy&e the
of companies.
1
H&o (2008) in his article titled “Efficiency Test on Taiwan )
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Industry using =efficiency "pproach% investigated the cost efficiency of 2
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firms operating in Taiwan using 5istribution Free "pproach 65F"7 to measu
efficiency of insurers. Ais findings reveal that larger mar'et share reduced
hence increased profitability. The result is consistent with mar'et power
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12/31/22, 1:31 PM Literature Review On Insurance Company | PDF | Systemic Risk | Insurance

Search Read free for 30 days

Literature Review On Insurance

Download now 1 of 25  Search document 

The Review of literature presented for both national and internationa

2.2 REVIEW OF LITERATURE

Please purchase PDF Split-Merge on www.verypdf.com to remove this watermark.

Please purchase erformance in the

“Economies of Scope in Financial Services! " 5E" Dootstrapping "naly

Please purchase PDF Split-Merge on www.verypdf.com to remove this watermark.

Trusted by over 1 million members

Trusted by over 1 million members

Share this document

Pestle_analysis(Affecting Life Insurance Business)Lic

Never Split the Difference: Negotiating As If Your Life Depended On It

Magazines Podcasts Sheet Music

Study of Promotional Strategy of ICICI Prudential Life Insurance Co. Ltd

Related titles Yes Please

A Project Report on ICICI Prudential Life Insurance

Systemic Risk Insurance Economic Growth Life Insurance

Pest Analysis of LIC

Principles: Life and Work

INSURANCE INDUSTRY ANALYSIS REPORT

About Support Legal Social

About Scribd Help / FAQ Terms Instagram

Press Accessibility Privacy Twitter

Our blog Purchase help Copyright Facebook

Join our team! AdChoices

Scribd for enterprise

Get our free apps

Books • Audiobooks • Magazines • Podcasts • Sheet Music • Documents • Snapshots

Copyright © 2022 Scribd Inc.

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