Financial Stability of European Insurance Companies during the COVID-19 Pandemic

Puławska, Karolina

doi:10.3390/jrfm14060266

Cited by 32 publications

(21 citation statements)

References 47 publications

(44 reference statements)

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“…To the best of our knowledge, this work considers for the first time the financial resilience of the insurance market during COVID-19 pandemic by means of a network approach. Indeed, some preliminary analyses of the impact of COVID-19 on the insurance sector have been developed in Ramanasany ( 2020 ) and (Puławska 2021 ) using different approaches.…”

Section: Introductionmentioning

confidence: 99%

Financial resilience of insurance network during Covid-19 pandemic

Cornaro

2022

Qual Quant

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We provide a novel approach for analysing the financial resilience of the insurance sector during coronavirus pandemic. To this end, we build temporal directed and weighted networks where the weights on the arcs take into account the tail dependence between couple of firms. To assess the resilience of the network, we provide a new global indicator, aimed at capturing the impact on the clustering coefficient of a shock affecting in turn each firm and diffusing in the network via shortest paths. A local measure of resilience is also provided by quantifying the contribution of each firm to the global indicator. In this way, we are able to detect most critical firms in the system. A numerical application has been developed in order to test the proposed approach. The results show that the proposed resilience measure appears able to detect main periods of financial crises. The first wave of COVID-19 pandemic results as a extreme phenomenon in the market and the lowest resilience is associated to the period in which COVID-19 has been declared pandemic.

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Section: Introductionmentioning

confidence: 99%

Financial resilience of insurance network during Covid-19 pandemic

Cornaro

2022

Qual Quant

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“…Moreover, the estimation results suggest that the pandemic raised the value of receivables owing exclusively among Belgian insurance businesses (Puławska, 2021). However, in keeping with EIOPA's reports, insurance companies should focus more on liquidity to limit losses during crises, such as the COVID-19 pandemic (EIOPA, 2021).…”

Section: Figure 5 Impact Of Covid-19 On the Insurance Company Of Port...mentioning

confidence: 96%

Institutional Response in Insurance Regulations Amid COVID-19 and Its Impacts in EU and Pakistan

Naeem¹,

Ahmad²,

Xavier³

2022

SJARR

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The purpose of current study is to evaluate the institutional response of the insurance regulations under Contract Law and compare the data from Europe and Pakistan. To conduct the study, the data was collected through already published annual reports of the insurance companies, and government’s reports regarding how insurance companies had been responding to the consumers during pandemic. The findings revealed that European countries were badly affected by the COVID-19 when compared with Pakistan, therefore the consumers’ requests for reimbursements were high in ratio. This led to the situation where the surplus of the insurance companies ended, and made them unable to serve the consumers as per the Contract Insurance Law. On the contrary, the situation in Pakistan was different, as there are less number of insurers. Thus, the study discusses in details regarding the differences in institutional responses in insurance regulations of the countries, and need for legislative updates

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“…Their findings indicate that German regulators can be used to detect insurers in financial distress early enough to take appropriate actions to protect policyholders' interest. Pulawska (2021) [11] evaluate the effect of COVID-12 pandemic on European insurance companies. The researcher analyzed financial statements spanning the years 2010 to 2020 using regression analysis.…”

Section: Literature Reviewmentioning

confidence: 99%

Measuring the financial performance of insurance companies during the financial crisis

Ibrahim¹

2023

Int. J. Finance Manage. Econ.

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Assessing the financial performance of insurance firms during periods of global economic difficulty has been a topic of great importance to the insurance industry. Interest in sound finance practices peaked in the years following the recession of 2008. Yet, there has been relatively little analysis of the UAE insurance industry and its performance during the financial crisis. The aim of this study is to measure the financial performance of three insurance companies operating in United Arab Emirates during the financial years 2006 to 2009, with the specific goal being to measure the impact of the financial crisis on performance. The analysis examines company performance on key performance indicators such as profitability, liquidity, capital structure and market performance indicators over the years 2006 to 2009. The findings show generally high levels of instability for profitability indicators. Regarding both liquidity and capital structure indicators, the firms in question experienced lower levels of variability and instability across the board. Performance on the earnings per share measure experienced a higher level of volatility, in contrast to the market value per share indicator which remained relatively stable throughout the period in question. Furthermore, profitability levels showed a systemic & notable decline in the crisis year 2008.

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Financial Stability of European Insurance Companies during the COVID-19 Pandemic

Cited by 32 publications

References 47 publications

Financial resilience of insurance network during Covid-19 pandemic

Financial resilience of insurance network during Covid-19 pandemic

Institutional Response in Insurance Regulations Amid COVID-19 and Its Impacts in EU and Pakistan

Measuring the financial performance of insurance companies during the financial crisis

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