Organizational Forms in MENA Property-Liability Insurance Industry: The Risk Implications

Abstract

This paper provides an evidence of the effect of organizational forms on the risk taking behavior, mainly by analyzing stock, mutual and Islamic insurers, between 2011 and 2016, from three countries of MENA’s region. Empirical tests are here applied to evaluate risk differences between these three types of ownership structures. We assume that stock insurers are more risky than mutual and Islamic ones and write more business with higher risk.