{"title":"1918 - 1919年的流感大流行扼杀了美国的人寿保险业吗?","authors":"Gustavo S. Cortés, Gertjan Verdickt","doi":"10.2139/ssrn.3913593","DOIUrl":null,"url":null,"abstract":"No. We document two empirical facts for the U.S. life insurance sector during the 1918–19 Influenza pandemic. First, we find no significant differences among U.S. insurers’ profitability after 1918. Second, there were fewer insurers in distress after the pandemic outbreak. Using synthetic control methods, we argue that the demand increase for new life insurance policies mitigated financial difficulties for insurers. While catastrophic from a public health perspective, the pandemic was a “blessing in disguise” for the insurance industry.","PeriodicalId":176096,"journal":{"name":"Economic History eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Did the 1918–19 Influenza Pandemic kill the U.S. Life Insurance Industry?\",\"authors\":\"Gustavo S. Cortés, Gertjan Verdickt\",\"doi\":\"10.2139/ssrn.3913593\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"No. We document two empirical facts for the U.S. life insurance sector during the 1918–19 Influenza pandemic. First, we find no significant differences among U.S. insurers’ profitability after 1918. Second, there were fewer insurers in distress after the pandemic outbreak. Using synthetic control methods, we argue that the demand increase for new life insurance policies mitigated financial difficulties for insurers. While catastrophic from a public health perspective, the pandemic was a “blessing in disguise” for the insurance industry.\",\"PeriodicalId\":176096,\"journal\":{\"name\":\"Economic History eJournal\",\"volume\":\"38 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-08-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic History eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3913593\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic History eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3913593","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Did the 1918–19 Influenza Pandemic kill the U.S. Life Insurance Industry?
No. We document two empirical facts for the U.S. life insurance sector during the 1918–19 Influenza pandemic. First, we find no significant differences among U.S. insurers’ profitability after 1918. Second, there were fewer insurers in distress after the pandemic outbreak. Using synthetic control methods, we argue that the demand increase for new life insurance policies mitigated financial difficulties for insurers. While catastrophic from a public health perspective, the pandemic was a “blessing in disguise” for the insurance industry.
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