scholarly journals Corporate Philanthropy and Risk Management: An Investigation of Reinsurance and Charitable Giving in Insurance Firms

2016 ◽  
Vol 27 (1) ◽  
pp. 1-37 ◽  
Author(s):  
Mike Adams ◽  
Stefan Hoejmose ◽  
Zafeira Kastrinaki
Keyword(s):  
Charitable Giving ◽  
Corporate Philanthropy ◽  
Insurance Industry ◽  
Chief Executive ◽  
Inside Ownership ◽  
Corporate Giving ◽  
Life Insurance Industry ◽  
Board Level ◽  
Bonus Plans ◽  
Ceo Bonus

ABSTRACT:Drawing a framework from strategic stakeholder theory and using 1999 to 2010 panel data from the United Kingdom’s (UK) non-life insurance industry, we examine the effect of reinsurance on the decisions to donate to charities, and the amount given. We find that reinsurance substitutes for charitable giving as it optimizes the interests of multiple stakeholders. We further note that corporate giving is directly related to the size and age of insurers, proportion of female directorships and insider ownership, but generally inhibited by chief executive officer (CEO) bonus plans, dominant shareholders, and financial experts on the board. Interestingly, when reinsurance interacts with board-level variables we find that the donations decision is positively related to CEO bonus plans, and negatively linked with inside ownership and the proportion of female board members. Our research results could have important implications for stakeholders.

scholarly journals Do Financial Experts on the Board Matter? An Empirical Test From the United Kingdom’s Non-Life Insurance Industry

2017 ◽  
Vol 35 (1) ◽  
pp. 168-195 ◽  
Author(s):  
Mike Adams ◽  
Wei Jiang
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Empirical Test ◽  
Performance Outcomes ◽  
Policy Implications ◽  
Superior Performance ◽  
Financial Outcomes ◽  
Life Insurance Industry ◽  
Ifrs 4 ◽  
Board Level

We examine the relation between board-level financial expertise and six measures of performance using panel data drawn from the United Kingdom’s non-life insurance industry. We find that collectively, financial experts have a beneficial influence on the performance outcomes of insurers. We also observe that board-level qualified accountants and actuaries are linked with superior performance in all six of our selected financial outcome measures. Professional insurance underwriters are associated with sound solvency levels (low leverage) and underwriting results, but not positive earnings-based measures. This suggests that underwriters may not be as adept at group-level earnings enhancement as accountants and actuaries. In addition, we find that the introduction of IFRS 4 in 2004/2005 did not have a significant impact on board composition and financial outcomes. Finally, we consider that our results could have commercial and/or policy implications.

THE MANIFESTATIONS OF CUSTOMER LOYALTY IN INDIAN LIFE INSURANCE INDUSTRY: AN EMPIRICAL EXAMINATION

2016 ◽  
Vol 12 (02) ◽  
Author(s):  
Medha Srivastava ◽  
Alok Kumar Rai
Keyword(s):  
Customer Loyalty ◽  
Life Insurance ◽  
Recent Literature ◽  
Insurance Industry ◽  
Empirical Examination ◽  
Consumption Decisions ◽  
Life Insurance Industry ◽  
Product Service ◽  
Brand Attributes ◽  
Loyal Customers

The widespread reverence for customer loyalty among marketers and businesses all across the globe is inspired from its manifestations since it’s the consumption decisions of loyal customers that leave a mammoth mark over the revenues and growth of a firm. A throng of behavioural, attitudinal and cognitive manifestations of customer loyalty are available in the literature some of which are widely acknowledged and accepted whereas others call for further inquiry. These manifestations of loyalty among customers are generally pinned down through their actions (Zeithaml et al., 1996; Jones et al., 2000) or their attitude towards the company or a particular product/ service (Javalgi and Moberg, 1997; Butcher et al., 2001). However, recent literature suggests that another outcome of loyalty is customer preferring a particular service provider to others based upon the conscious evaluation of brand attributes (Gremler and Brown, 1996; Butcher et al., 2001). The paper intends to explore and empirically test various manifestations of customer loyalty in the context of life insurance services thereby, extending the existing knowledge of customer loyalty by outlining the distinctive nature of customer loyalty outcomes and offering useful insights to the marketing practitioners in life insurance industry. The study further groups these manifestations into distinct outcome classes and empirically evaluates them by comparing and contrasting each with the other. It also aims to enrich the literature of customer loyalty by developing and validating a scale for measurement of customer loyalty outcomes with special reference to life insurance services.

Discovering dynamic adverse behavior of policyholders in the life insurance industry

2020 ◽  
pp. 120486
Author(s):  
Md Rafiqul Islam ◽  
Shaowu Liu ◽  
Rhys Biddle ◽  
Imran Razzak ◽  
Xianzhi Wang ◽  
...  
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Life Insurance Industry
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