K. Batu Tunay

International Insurance Industry and Systemic Risk

After the global crises, it is observed that not only the banking sector but also the insurance industry has systemic risk sources. Moreover, there are studies that found that insurance companies are even more risky compared to other financial intermediaries. In regard to this, life and non-life insurance companies and banks’ systemic risk causalities are analysed. Systematic risk measurements and conditional capital inadequacy were used. Dumitrescu-Hurlin panel causality tests were used to analyse the weekly global data for the years between 2005 and 2015. The main aim of the study is to find out if there is a relation between the systemic risk of life and non-life insurance and commercial banks. However, the results of the past studies indicate that the transfer of bank systemic risk has a strong role. The results of the study reveal that especially in regard to conditional risk based value where the systemic risks of life and non-life insurance companies and banks have strong causalities. It can be concluded that insurance companies’ systemic risk has a potential to be spreaded regarding to the geographical area.

The Effect of Financial Crises on Banking Performance in Developed and Emerging Economies

The aim of the study is to examine the effect of crises on the stability of the bankingsystem in 46 developed and emerging economies for the years 1999–2014. The variables are tested by using the two-step dynamic panel data analysis. The results indicate that the banking crises have an impact on the banking system stability. On the other hand, it is obsereved that the comparative conditions and the volatility on asset prices are the determinants on performance-stability relations. The most important finding is that the credit to GDP gap influence bank performance negatively.

The Dynamic Effect of Financial Crises and Economic Volatilities on the Insurance Sector

In this study, the effect of the international financial crises and the volume of the economic performance of the market share of the insurance sector and the premiums accumulated through life and non-life insurance sector are analysed. A dynamic panel data analysis is used to examine 30 developed and emerging economies for the years between 1995 and 2014. The results indicate that the crises and volatilities in economic conditions influence insurance sector negatively.

Finansal krizler ve sigortacılık: Deneysel bulguların ışığında Türk sigorta sektörüne dair değerlendirmeler

This study aims to analyze how the insurance sector is affected from financial crises in the light of empirical findings. The study has two main parts. The theoretical part of study investigates the interaction between financial crises and insurance industry with respect to empirical studies’ findings in the literature. The practice part analyzes Turkey’s data with fixed effects panel data models. Findings show that insurance companies are affected negatively from financial stress and crises, and positively from economic growth in respect to the measures like premiums received, profitability and securities’ portfolio