New approaches to regulating insurance markets in the European Union in the aftermath of the financial crisis

Eliska Hrabalova (), Eva Vavrova () and David Hampel
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Eliska Hrabalova: Department of Finance, Faculty of Business and Economics, Mendel University in Brno
Eva Vavrova: Department of Finance, Faculty of Business and Economics, Mendel University in Brno

No 2017-72, MENDELU Working Papers in Business and Economics from Mendel University in Brno, Faculty of Business and Economics

Abstract: The main objective of this paper is to analyze the impact of the financial crisis on insurance markets in the European Union and to evaluate changes in the approaches to insurance regulation depending on the effects of the financial crisis. The financial crisis has triggered an identified banking crisis and has shifted through the contagion channels from the US mortgage market to other financial sectors and regions of the world. With regard to the integration of financial institutions in the EU and the globalization of financial markets, a number of regulatory proposals has emerged in recent years to address the impact of the crisis, to eliminate the trigger of the crisis and to prevent recurrence of the causes of the crisis. The authors assess the development of financial health of insurers in the European insurance markets in the period of lingering financial crisis and draw conclusions based on the analysis of the insurance sector. The methods of panel regression and resulting models were used to achieve the aim of the paper.

Keywords: financial crisis; insurance market; regulation; supervisory authority; Directive Solvency II (search for similar items in EconPapers)
JEL-codes: G01 G15 G22 G28 (search for similar items in EconPapers)
Pages: 32
Date: 2017-12
New Economics Papers: this item is included in nep-ias and nep-rmg
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