Bankruptcy in the Core and Periphery of Financial Groups: The Case of the Property-Casualty Insurance Industry

@article{Zanjani2009BankruptcyIT,
  title={Bankruptcy in the Core and Periphery of Financial Groups: The Case of the Property-Casualty Insurance Industry},
  author={George Zanjani},
  journal={Corporate Governance: Governance of Special Types of Firms eJournal},
  year={2009}
}
  • George Zanjani
  • Published 2009
  • Business
  • Corporate Governance: Governance of Special Types of Firms eJournal
This paper studies the survival outcomes experienced over a 14-year period by a comprehensive sample of group-affiliated U.S. property-casualty insurance companies from 1994. While it is generally assumed that affiliate support enhances the financial strength of a subsidiary within a group, this paper finds that claimants on non-core affiliates (i.e., those with less reinsurance support from and with looser ties to the flagship company) fared better, on average, than claimants on core and… Expand

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