Environmental Damage Costs of Insurance Companies

Silvia Bressan

doi:10.20944/preprints202408.1799.v1

Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Version 1 : Received: 25 August 2024 / Approved: 25 August 2024 / Online: 26 August 2024 (08:27:44 CEST)

We examine worldwide Property and Casualty and Life and Health insurance companies from 2004 until 2023, implementing panel regression models and mediation analysis to show that insurers raise their reserves when they face increasing costs for their potential environmental damages, ultimately reducing their profitability and underwriting capacity. Our findings extend to the insurance sector the previous evidence on banks, demonstrating that environmental damages could affect profits and solvency of financial intermediaries. These insights are important especially for insurance managers and regulators.

insurance companies; environmental damages; environmental damage costs; environmental impact ratios; profitability; leverage

Business, Economics and Management, Finance

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Environmental Damage Costs of Insurance Companies

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