Understanding the economics of insurance

A product of the research and work carried out prior to the meeting, "The Economics, Regulation, and Systemic Risk of Insurance Markets" marks a rare collaboration between academics, regulators and insurance market players. It provides a set of analyses to gain better insight into the insurance sector.

The book will be presented at the “The Future of Savings” conference held today at the Banque de France.

The macroeconomic role of insurance, financial stability, systemic risk and other notions are explored in this work, which provides a wide perspective on insurance, its role, and how it functions.

Insurance is invisible, but everywhere. Because insurance manages risks, it makes it possible for businesses and people to take them. How does insurance help our economy and society run more smoothly? The answer is in these pages.

The book’s editors are:

• Christian Thimann, Group Head of Strategy, Sustainability and Public Affairs for the AXA Group;
• Felix Hufeld, President of the German Federal Financial Supervisory Authority (BaFin) and member of the Supervisory Board of the Single Supervisory Mechanism (SSM) for the banks of the Eurozone;
• Ralph S. J. Koijen, Professor of Finance at London Business School.

Other AXA contributors to the book include Denis Duverne, Chairman of the Board of Directors of AXA, and Amélie de Montchalin, Vice-President for Public Policy and Regulation in the AXA Group Strategy, Sustainability and Public Affairs division.