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Insurance Study Subject of Best Paper Award

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Xiaoying Xie, professor of finance, was among three authors recognized last month with the Harold D. Skipper Award for best paper at the Third World Risk and Insurance Economics Congress held in Munich.

The trio — Xie; Sonjung Carol Park, associate professor of finance at Seoul National University; and SNU graduate student Pinghai Rui — won for their co-authored work, “The Sensitivity of Reinsurance Demand to Counterparty Risks: Evidence From U.S. Property-Liability Insurance Industry.”

Reinsurance is insurance purchased by an insurance company (ceding insurance company) to manage underwriting or insolvency risks, satisfy stringent regulatory requirements and deal with uncertainties caused by regulation changes or catastrophic losses, says Xie.

The use of reinsurance, however, creates a risk for ceding insurers of recovering losses if the reinsurance company fails, she noted. “Our paper examines if ceding insurance companies’ reinsurance demand is sensitive to the change in risks of reinsurers.”

Xie has served at Cal State Fullerton since 2005 and has focused her research on mergers and acquisitions, insurance markets and economics, corporate finance and governance, and productivity and efficiency. She earned a doctorate in insurance and risk management from the Wharton School at the University of Pennsylvania.