The Contribution of Shadow Insurance to Systemic Risk

Carlo Bellavite Pellegrini, Soon Heng Leong, Giovanni Urga

Risultato della ricerca: Contributo in rivistaArticolo in rivista

Abstract

Shadow insurance is a regulatory loophole exploited by certain insurance groups to increase risk exposure, potentially destabilising the financial system. In this paper, we evaluate the contribution of shadow insurance to systemic risk of the global financial sector using a sample of 215 international insurance entities covering the 2004–2017 period. We detect shadow insurance by examining every reinsurance agreement on the Schedule S filings. Using both ΔCoVaR and SRISK measures, we find that the practice of shadow insurance is a significant driver of global systemic risk.
Lingua originaleEnglish
pagine (da-a)1-20
Numero di pagine20
RivistaJournal of Financial Stability
Volume51
DOI
Stato di pubblicazionePubblicato - 2020

Keywords

  • Financial stability
  • Interconnectedness
  • Shadow banking activity
  • Size

Fingerprint Entra nei temi di ricerca di 'The Contribution of Shadow Insurance to Systemic Risk'. Insieme formano una fingerprint unica.

Cita questo