New Evidence in the Definition of Strategy for Global Insurers

Economics Bulletin, Vol. 36 No. 3 pp. 1829-1843, September 2016.

16 Pages Posted: 22 Oct 2016

See all articles by Rafael Hernandez Barros

Rafael Hernandez Barros

Universidad Complutense de Madrid (UCM)

Javier Vidal-García

Harvard University; Complutense University Madrid

Marta Vidal

Universidad Europea de Madrid; Universidad Complutense de Madrid (UCM)

María Isabel Martínez Torre-Enciso

Universidad Autónoma de Madrid

Date Written: September 29, 2016

Abstract

The article shows how multinational corporations in insurance compete in the risky and complex global arena after the financial crisis, providing a conceptual model linking key cross-border operational drivers to international strategies; drawn largely from public data and qualitative interviews made to managers with involvement in the strategy of insurers throughout Asia, Europe, Latin America and USA. The existing literature justifies the different international strategies of multinational insurance companies on external factors in the creation of value, which are somewhat away from the reality of their decision-making processes. This research leads us to focus the formulation of the strategy on more concrete business drivers, with the specific goal of generating cash-flows and create shareholder wealth. It concludes that, by following the framework described, managers can rethink where to compete globally, and scientists can add conceptually to the current body of knowledge in insurance through new research on corporate strategy.

Keywords: business drivers; global strategy; insurance industry; value creation

Suggested Citation

Hernandez Barros, Rafael and Vidal-García, Javier and Vidal, Marta and Martínez Torre-Enciso, María Isabel, New Evidence in the Definition of Strategy for Global Insurers (September 29, 2016). Economics Bulletin, Vol. 36 No. 3 pp. 1829-1843, September 2016.. Available at SSRN: https://ssrn.com/abstract=2856187

Rafael Hernandez Barros

Universidad Complutense de Madrid (UCM) ( email )

Carretera de Humera s/n
Madrid, Madrid 28223
Spain

Javier Vidal-García (Contact Author)

Harvard University ( email )

1875 Cambridge Street
Cambridge, MA 02138
United States

Complutense University Madrid ( email )

School of Business Administration
Somosaguas Campus
Madrid, Madrid 28223
Spain

Marta Vidal

Universidad Europea de Madrid ( email )

Villaviciosa de Odón
Madrid, 28670
Spain

Universidad Complutense de Madrid (UCM) ( email )

Somosaguas Campus
Madrid, 28223
Spain

María Isabel Martínez Torre-Enciso

Universidad Autónoma de Madrid ( email )

Campus Cantoblanco
C/Kelsen, 1
Madrid, Madrid 28049
Spain

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