Naslov
Impact of the Investment Portfolio Structure on Croatian Insurance Companies’ Profitability

Autori
Anđelinović, Mihovil ; Samodol, Ante ; Pavković, Ana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Challenges for Financial Sector of CEE Countries in Overcoming Problems of Economic Integration in the EU / Kotlebova, Jana ; Širanova, Maria - Bratislava : Ekonom, University of Economics in Bratislava, 2016, 1-8

ISBN
978-80-225-4284-5

Skup
9th International Conference on Currency, Banking and International Finance

Mjesto i datum
Bratislava, Slovačka, 20.09.2016. - 21.09.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
insurance companies ; asset allocation ; panel data analysis

Sažetak
As financial intermediaries, insurance companies mobilize long term savings and allocate them conservatively, guided primarily by the safety principle instead of the profitability principle. Assets covering technical and mathematical provisions consist of investment portfolio asset classes whose structure determines the profitability of insurers and their exposure to financial risks. The aim of this paper is to examine the investment portfolio of Croatian insurers, to explore how the economic conditions affect its structure and to quantitatively investigate the link between asset allocation and insurance companies' profitability. Econometric analysis includes data from financial statements for the period 2008-2015, which are analyzed using the panel data analysis. The results reveal the direction and strength of the statistical link between the financial results and the structure of invested assets covering technical and mathematical provisions. Since the analyzed period refers to the period before Solvency II, conclusions about the expected changes in asset allocation that financial reregulation brings will also be made.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA