International Insurance Markets: Between Global Dynamics and Local Contingencies—An Introduction

Abstract

Insurance and financial markets have been radically and deeply changed in the last 20 years. Deregulation, internationalization of insurance and financial institutions, increasing competition, electronic commerce, bancassurance, and the emergence of new risks are among the challenges faced by insurers and other financial firms. These developing trends pose both global and local challenges for financial firms participating in insurance markets. 'The Handbook of International Insurance: Between Global Dynamics and Local Contingencies' increases understanding of insurance markets by adopting an international comparative approach. Leading scholars and practitioners worldwide provide detailed information on market trends, regulation, taxation, and economic developments for thirteen specific countries in Europe, the Americas, and Asia. Each country chapter covers key aspects of insurance: life insurance, non-life insurance, and public and private social insurance programs. The book also includes comprehensive chapters on reinsurance, Lloyd s of London, alternative risk transfer, South and East Asian insurance markets, and European insurance markets. Setting the stage is an overview chapter by the editors focusing on overall conclusions on globalization. A unique source of information on the evolution of insurance markets worldwide, this book provides valuable perspectives for scholars, practitioners, and policy makers.