2020, Vol.31, No.3

Journal of Insurance and Finance 2023 KCI Impact Factor : 0.59

pISSN : 2384-3209
https://journal.kci.go.kr/kiri

This report is prepared for commemoration of publication of the 100th issue of the Journal of Insurance and Finance. It is a summary of research trends over the past 30 years published in this journal. A total of 566 articles have been published since the 1st issue in December 1990. Twelve categories of research subjects are identified and major studies in each category are briefly surveyed to provide ideas on historical research trends. Form the inception in 1990 to 2000, most extensively investigated are those issues as to business strategy, regulation, and solvency under the environment of deregulation and market opening. Since entering into the 21st century, papers on insurance demand and actuarial aspects of insurance tend to be dominant. In the future, more theoretical research on insurance economics is required and particularly needed is a research infrastructure to procure data for diverse and sophisticated empirical research in the area of insurance.

This study intends to analyze the intention to use the trust-method reverse mortgage for the first time in order to resolve the instability of spouse supply and demand in the past, and to make a policy proposal to expand the use of the trust-method reverse mortgage. As a result of analysis of the intention to use the trust-method reverse mortgage, the most important factors influencing the intention to join the trust-method reverse mortgage are relationships with children in case of participating in reverse mortgage, intention to inherit the house, needs for education to prepare for retirement, sufficient preparation for retirement, and knowledge of reverse mortgage. In order to invigorate the trust-method reverse mortgage, it is important to communicate the concept and advantages of the trust-method reverse mortgage to the target audience. In addition, it is considered that education, public relations, and counseling for children should be strengthened so that the parents' participation in the trust-method reverse mortgage can help the parents' retirement and reduce the burden on their children.

This paper examines the effect of the U.S. property and liability insurance companies’ product diversification on financial derivatives usage. Prior studies discussed the diversification of the firm but have not incorporated its relation with the derivatives particularly for options. We focus on the firms' product diversification with the use of options and reinsurance for hedging purposes. This paper finds the following evidence. First, there is no significant evidence of diversification effect using all types of derivatives. Second, firms' product diversification is positively associated with the options. This implies that diversified firms are exposed to greater asset risk which results in increased demand for options to hedge. Last, there exists a negative relation between reinsurance and options supporting that they are considered as substitutes.