Scholarlink

<p>We examine whether stronger cost-based competition is associated with financial soundness in underwriting-intensive non-life insurance markets using insurer-level data from 10 Asia-Pacific countries during 2011–2019. Competition is measured using the Boone indicator, a profit–cost elasticity measure. Stronger cost-based competition is associated with higher Z-scores, mainly through higher risk-adjusted profitability and lower earnings and loss ratio volatility. Capitalization does not respond robustly, suggesting that competitive discipline in non-life insurance is reflected primarily through performance stabilization rather than capital accumulation. The relationship is observed across developed and developing markets and is stronger where property rights protection is higher.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Competition, Efficiency, and Financial Soundness in Underwriting-Intensive Markets: Evidence from Asia-Pacific Non-life Insurance

  • 期刊论文

  • 发表日期：

    2026年6月19日

查看全文
  • Liang-wei Kuo,
  • Yi-Hsun Lai,
  • Wen-Chang Lin

摘要

We examine whether stronger cost-based competition is associated with financial soundness in underwriting-intensive non-life insurance markets using insurer-level data from 10 Asia-Pacific countries during 2011–2019. Competition is measured using the Boone indicator, a profit–cost elasticity measure. Stronger cost-based competition is associated with higher Z-scores, mainly through higher risk-adjusted profitability and lower earnings and loss ratio volatility. Capitalization does not respond robustly, suggesting that competitive discipline in non-life insurance is reflected primarily through performance stabilization rather than capital accumulation. The relationship is observed across developed and developing markets and is stronger where property rights protection is higher.