Abstract
It is the conventional wisdom of the insurance industry the world over that the industry is subject to an underwriting cycle. By this is meant that the industry’s profit exhibits cyclical behaviour over time. In this context “profit” usually means total operating profit rather than just the underwriting profit component, though in the present paper it will not be necessary to focus on this distinction to any great extent.
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Taylor, G. (1991). An Analysis of Underwriting Cycles and Their Effects on Insurance Solvency. In: Cummins, J.D., Derrig, R.A. (eds) Managing the Insolvency Risk of Insurance Companies. Huebner International Series on Risk, Insurance, and Economic Security, vol 12. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3878-9_1
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DOI: https://doi.org/10.1007/978-94-011-3878-9_1
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