We consider partial and complete information models to investigate how partial information has a unique quality over complete information for insurers. We find that optimal reinsurance and investment strategies for the partially informed insurer depend on prior beliefs, whereas those for the completely informed insurer do not. In addition, information quality can affect insurer behaviour, mainly through the relative difference between risk-adjusted market premium and risk-adjusted insurance premium projected on the financial markets.Numerical results indicate that partial information increases the conservativeness of insurer strategies.
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