Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain

This paper analyzes the factors that determine the solvency of the insurance companies operating in Spain. The selected time span, from 2008 to 2015, encompasses a period of economic instability characterized by record low interest rates and low or even negative economic growth. Using a dynamic pane...

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Detalles Bibliográficos
Autores: Moreno-Gabaldon, Ignacio, Parrado-Martínez, Purificación, Trujillo-Ponce, Antonio
Tipo de recurso: artículo
Estado:Versión aceptada para publicación
Fecha de publicación:2020
País:España
Institución:Universidad de Jaén
Repositorio:RUJA. Repositorio Institucional de la Producción Científica de la Universidad de Jaén
OAI Identifier:oai:ruja.ujaen.es:10953/6000
Acceso en línea:https://onlinelibrary.wiley.com/doi/10.1111/acfi.12422
https://hdl.handle.net/10953/6000
Access Level:acceso abierto
Palabra clave:Insurance
Solvency
Capitalization
Economic crisis
European financial system
G22
G28
G32
G33
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spelling Economic crisis and determinants of solvency in the insurance sector: new evidence from SpainMoreno-Gabaldon, IgnacioParrado-Martínez, PurificaciónTrujillo-Ponce, AntonioInsuranceSolvencyCapitalizationEconomic crisisEuropean financial systemG22G28G32G33This paper analyzes the factors that determine the solvency of the insurance companies operating in Spain. The selected time span, from 2008 to 2015, encompasses a period of economic instability characterized by record low interest rates and low or even negative economic growth. Using a dynamic panel data model, we conclude that actual solvency margins are positively related to profitability, underwriting risk, and a mutual-type organization but inversely related to size, reinsurance use, longer-tailed business, and life insurance specialization. We also find that less concentrated markets and the context of an economic crisis decrease solvency margins.Wiley202520252020info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfhttps://onlinelibrary.wiley.com/doi/10.1111/acfi.12422https://hdl.handle.net/10953/6000reponame:RUJA. Repositorio Institucional de la Producción Científica de la Universidad de Jaéninstname:Universidad de JaénInglésAccounting and Financeinfo:eu-repo/semantics/openAccessoai:ruja.ujaen.es:10953/60002026-06-24T12:41:07Z
dc.title.none.fl_str_mv Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
title Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
spellingShingle Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
Moreno-Gabaldon, Ignacio
Insurance
Solvency
Capitalization
Economic crisis
European financial system
G22
G28
G32
G33
title_short Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
title_full Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
title_fullStr Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
title_full_unstemmed Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
title_sort Economic crisis and determinants of solvency in the insurance sector: new evidence from Spain
dc.creator.none.fl_str_mv Moreno-Gabaldon, Ignacio
Parrado-Martínez, Purificación
Trujillo-Ponce, Antonio
author Moreno-Gabaldon, Ignacio
author_facet Moreno-Gabaldon, Ignacio
Parrado-Martínez, Purificación
Trujillo-Ponce, Antonio
author_role author
author2 Parrado-Martínez, Purificación
Trujillo-Ponce, Antonio
author2_role author
author
dc.subject.none.fl_str_mv Insurance
Solvency
Capitalization
Economic crisis
European financial system
G22
G28
G32
G33
topic Insurance
Solvency
Capitalization
Economic crisis
European financial system
G22
G28
G32
G33
description This paper analyzes the factors that determine the solvency of the insurance companies operating in Spain. The selected time span, from 2008 to 2015, encompasses a period of economic instability characterized by record low interest rates and low or even negative economic growth. Using a dynamic panel data model, we conclude that actual solvency margins are positively related to profitability, underwriting risk, and a mutual-type organization but inversely related to size, reinsurance use, longer-tailed business, and life insurance specialization. We also find that less concentrated markets and the context of an economic crisis decrease solvency margins.
publishDate 2020
dc.date.none.fl_str_mv 2020
2025
2025
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://onlinelibrary.wiley.com/doi/10.1111/acfi.12422
https://hdl.handle.net/10953/6000
url https://onlinelibrary.wiley.com/doi/10.1111/acfi.12422
https://hdl.handle.net/10953/6000
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Accounting and Finance
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Wiley
publisher.none.fl_str_mv Wiley
dc.source.none.fl_str_mv reponame:RUJA. Repositorio Institucional de la Producción Científica de la Universidad de Jaén
instname:Universidad de Jaén
instname_str Universidad de Jaén
reponame_str RUJA. Repositorio Institucional de la Producción Científica de la Universidad de Jaén
collection RUJA. Repositorio Institucional de la Producción Científica de la Universidad de Jaén
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,808905

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