Risk Management and Performance in Insurance Companies

摘要: A study in the Netherlands by Laeven & Perotti (2010) has shown that financial crisis had a dramatic effect on insurance industry. The impact of caused various firms to fail fulfil requirements as stated Dutch Central Bank. Willaims et al. (2006) defined risk management following way: “Risk aims provide decision makers with systematic approach coping and uncertainty.” First, there is traditional which focuses manages risks individual cases. Next, enterprise (ERM) package. ERM focussus not only risks, but also non-financial risks. Multiple researches have implementation positive effects both performance value firm (McShane al., 2011; Hoyt Liebenberg, Baxter 2013). The question now rises, whether 2007 2008 could been alleviated having implemented (ERM). This led formulation research question: Does mitigate companies? For this study, data from annual reports collected 39 firms, resulting sample 156 year observations. years 2005 – taken into account, 2006 are regarded pre-crisis during crisis. To find an answer question, t-tests regression analysis used. results confirm decrease years. drop crucial for investigating mitigating performance. No statistically significant evidence found support performance, before However, supporting exact opposite. Statistically show higher level lower ROA than period. The combination these findings conclusion based question: Very little negative company crisis.