Systemic Risk in the Insurance Sector: A Review of Current Assessment Approaches

Andreas Jobst ()

The Geneva Papers on Risk and Insurance - Issues and Practice, 2014, vol. 39, issue 3, 440-470

Abstract: The following article reviews the recent regulatory efforts in defining systemic risk in the insurance sector and the designation of systemically important insurers. Although current evidence suggests that core insurance activities are unlikely to cause or propagate systemic risk, the characteristics and business models of insurance firms vary by country and might require a more nuanced examination, with a particular focus on non-traditional and/or non-insurance activities. The article also includes the assessment of identified vulnerabilities from liquidity risk in the context of the Bermuda market, which provides valuable insights into systemic risk analysis in the domestic context of an insurance market dominated by non-life underwriting.

Date: 2014
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