Growth Performance and Organizational Forms : The Case of Swedish Life Insurance, 1890 to 1950

• In Swedish life insurance, mutual and stock insurers have competed since the late nineteenth century. Stock insurers were prime movers controlling the early market. After the establishment of the first mutual insurer in 1887, however, stock insurers lost substantial market share. By themid-twentieth century, mutual insurers controlled 70 per cent of the life insurance market. In this chapter we explain how and why the mutual form was more successful than the stock organizational form in Swedish life insurance from the late nineteenth century to the midtwentieth century. Our preliminary results show that mutuals were more successful than stock companies in attracting demand from the growing wage-labour population. By introducing the concept of industrial insurance and by keeping claims experiences low, mutual companies were able to efficiently expand their businesses and their market share.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Ekonomisk historia (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economic History (hsv//eng)

Nyckelord

life insurance

organizational form

firm growth

insurance history

Sweden

ekonomisk historia

Economic History

Publikations- och innehållstyp

ref (ämneskategori)

kap (ämneskategori)