Size and Efficiency in European Long–term Insurance Companies: An International Comparison

By S. Diacon, Ken Starkey, C. O’Brien. 2002

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The Cost Efficiency of Takaful Insurance Companies (2010, unknown): “35 Grossman and Hart (1980). 36 Cummins (1999).”
Competition, Efficiency, and Soundness in European Life Insurance Markets (2017, unknown): “Nevertheless, among these studies, Diacon et al. (2002) show that technical efficiency declined from 1996 to 1999 in 15 European countries.”
Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments (2010, background): “(2008) and Diacon et al. (2002)—or consider relatively small datasets—such as Rai (1996), which covers only 106 companies in 11 countries.”
Efficiency in the international insurance industry: A cross-country comparison (2010, background): “Diacon/Starkey/O’Brien (2002), as well as Fenn et al. (2008), also find Denmark to be among the most efficient European insurance markets. Japanese insurance companies are usually found to be not very efficient (see Donnie/Fecher, 1997; Weiss, 1991), but the empirical evidence on the Japanese market”