Competing Models of Organizational Form

Risk Management Strategies and Underwriting Profitability in the Swedish Fire Insurance Market Between 1903 and 1939

Bibliographic Data

ID10102520
AuthorsMichael Adams (0000-0001-7577-3532), Mike Adams (0000-0002-1201-0025, University of Bath, corresponding author), Lars‐fredrik Andersson (0000-0002-1413-3707, Umeå University, corresponding author), Lars Fredrik Andersson, Magnus Lindmark (0000-0002-3293-2318, Umeå University, corresponding author), Elena Veprauskaite (University of Bath, corresponding author)
Year2012
Volume72
Issue4
Pages990-1014
Publication date2012-12-14
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Economic History (JOURNAL)
Journal identifiersISSN: 0022-0507 • E-ISSN: 1471-6372
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0022050712000666
OpenAlexW2104035380
LanguageEN
Citations received6
References cited26

Mutual and stock insurers have coexisted and competed against each other in insurance markets for centuries. In this article, we examine the risk management strategies and underwriting profitability of the different organizational forms in Sweden's property fire insurance market between 1903 and 1939. We demonstrate that stock insurers acted as intermediaries between policyholders and reinsurers to operate effectively in the potentially high-risk segments of the fire insurance market. In contrast, nationwide mutual insurers kept larger reserves to balance fluctuations in claims experiences, while local insurance pools relied on social obligation and trust to mobilize capital after adverse fire events

Actuarial science · Business · Casualty insurance · General insurance · Income protection insurance · Insurance policy · Intermediary · Medical underwriting · Profitability index · Property insurance · Risk pool · Underwriting · Agricultural risk and resilience · Finance · Insurance and Financial Risk Management · Insurance, Mortality, Demography, Risk Management