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Internationalization in the Reinsurance Industry: An Analysis of the Net Financial Position of U.S. Reinsurers
Author(s) -
Cole Cassandra R.,
Ferguson William L.,
Lee Ryan B.,
McCullough Kathleen A.
Publication year - 2012
Publication title -
journal of risk and insurance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.055
H-Index - 63
eISSN - 1539-6975
pISSN - 0022-4367
DOI - 10.1111/j.1539-6975.2012.01461.x
Subject(s) - internationalization , reinsurance , position (finance) , business , proxy (statistics) , industrial organization , international trade , economics , finance , machine learning , computer science
Abstract In today's global marketplace, the extent of internationalization has become increasingly relevant. We use the framework of the eclectic paradigm to empirically investigate internationalization by U.S. reinsurers using the net financial position in foreign markets to proxy for the level of internationalization. Our sample includes both developed and developing nations to provide a more complete analysis of internationalization of U.S. reinsurers. We find that the factors related to reinsurers’ net financial positions vary based on the characteristics of the countries, the reinsurers, and the industry.