An Investigation of the Performance of the U.S. Property-Casualty Insurance Industry
Working Paper Series S-95-17
Posted: 26 May 1998
Date Written: Undated
This paper presents an empirical analysis of the economic performance of the U.S. property-casualty insurance industry, using estimations across 18 lines of insurance for the years 1984-1993. It adopts an industrial organization approach, focusing on loss ratios and combined ratios as measures of pricing performance. The line's seller concentration ratio and share of direct writers in the line are both found to be significant determinants of performance. The results are consistent with shortcomings in competition in some insurance lines.
JEL Classification: G22
Suggested Citation: Suggested Citation