Handbook of International Insurance: Between Global Dynamics and Local Contingencies (Huebner International Series on Risk, Insurance and Economic Security (26))

THE HANDBOOK OF INTERNATIONAL INSURANCE Gordon Stewart, President, Insurance Information Institute, New York, USA "The globalization of insurance markets means that understanding both international developments and local trends around the world is now fundamental for insurance executives coping with today’s complex and competitive environment. By providing such a comprehensive picture of the world’s insurance markets, this unique and necessary book becomes an essential tool for anyone seeking to operate wisely and successfully. Richard D. Phillips, Professor and Chairman, Department of Risk Management and Insurance, Georgia State University, Atlanta, USA "Comprehensive surveys, written by international experts, provide in depth descriptions and discuss recent developments of the world’s major insurance markets. Each chapter contains essential insights for insurance executives and academic researchers interested in risk management and the globalization of insurance markets." Patrick Liedtke, Secretary General and Managing Director, the Geneva Association, Switzerland "This book depicts in an outstanding way the dichotomy of the insurance world today, which is still torn between global approaches and local solutions. Both insurance professionals and academics will profit enormously from its intelligent insights." Raimond Maurer, Professor, Goethe-University Frankfurt, Germany "In today's high competition environment, the understanding of international insurance markets is crucial to sustain an insurance company’s competitive advantage. This book makes a major contribution to that understanding." Edited by: J. David Cummins, Harry J. Loman Professor of Insurance and Risk Management, Wharton School, University of Pennsylvania, USA Bertrand Venard, Professor of Management, Audencia. Nantes School of Management, France Front Matter....Pages i-xxix International Insurance Markets: Between Global Dynamics and Local Contingencies—An Introduction....Pages 1-24 The United States Insurance Market: Characteristics and Trends....Pages 25-145 The Japanese Insurance Market and Companies: Recent Trends....Pages 147-204 The UK Insurance Industry—Structure and Performance....Pages 205-239 The French Insurance Market: Background and Trends....Pages 241-304 The German Insurance Industry: Market Overview and Trends....Pages 305-345 The Italian Insurance Sector between Macro and Micro Facts: Salient Features, Recent Trends, and an Econometric Analysis....Pages 347-401 A Descriptive Analysis of Canadian Insurance Markets....Pages 403-453 Insurance in the Netherlands: Market Structure and Recent Developments....Pages 455-497 The Structure, Conduct, and Performance of the Spanish Insurance Industry....Pages 499-551 The Insurance Market in the Republic of Ireland....Pages 553-595 China’s Insurance Industry: Developments and Prospects....Pages 597-640 An Analysis of the Evolution of Insurance in India....Pages 641-678 South African Insurance Markets....Pages 679-741 Recent Developments in the Brazilian Insurance Market....Pages 743-787 European Insurance Markets: Recent Trends and Future Regulatory Developments....Pages 789-848 South and East Asian Insurance Market Growth and Development....Pages 849-876 The Global Reinsurance Market....Pages 877-902 Lloyd’s and the London Insurance Market: An Overview....Pages 903-924 An Overview of the Alternative Risk Transfer Market....Pages 925-952 Back Matter....Pages 953-981 Insurance and financial markets have been radically and deeply changed in the last 20 years. Deregulation, internationalization of insurance and financial institutions, increasing competition, electronic commerce, bancassurance, and the emergence of new risks are among the challenges faced by insurers and other financial firms. These developing trends pose both global and local challenges for financial firms participating in insurance markets.'The Handbook of International Insurance: Between Global Dynamics and Local Contingencies'increases understanding of insurance markets by adopting an international comparative approach. Leading scholars and practitioners worldwide provide detailed information on market trends, regulation, taxation, and economic developments for thirteen specific countries in Europe, the Americas, and Asia. Each country chapter covers key aspects of insurance: life insurance, non-life insurance, and public and private social insurance programs. The book also includes comprehensive chapters on reinsurance, Lloyd's of London, alternative risk transfer, South and East Asian insurance markets, and European insurance markets. Setting the stage is an overview chapter by the editors focusing on overall conclusions on globalization. A unique source of information on the evolution of insurance markets worldwide, this book provides valuable perspectives for scholars, practitioners, and policy makers. Handbook of International Insurance: Between Global Dynamics and Local Contingencies analyzes key trends in the insurance industry in more than 15 important national insurance markets that represent over 90 percent of world insurance premiums. Well-known academics from Europe, the Americas and Asia examine their own national insurance markets, including the competitive structure, product and service innovations, and regulatory developments. The book provides academics and executives with an unprecedented range of information about today's insurance markets. This book also provides important 'new' information on the evolution of the financial sector worldwide and comprehensive chapters on reinsurance, Lloyd's of London, alternative risk transfer, South and East Asian insurance markets, and European insurance markets. Setting the stage is an overview chapter by the editors focusing on overall conclusions on globalization. Offers an understanding of insurance markets by adopting an international comparative approach. This book provides information on market trends, regulation, taxation, and economic developments for thirteen countries in Europe, the Americas, and Asia. It covers key aspects of insurance. It is intended for scholars, practitioners, and policy makers