Testing for Convergence in the European Insurance Sector: A Non-Linear Factor Approach

  • Nicholas Apergis
  • Alexandros Gabrielsen
  • James Payne
  • Paolo Zagaglia


This paper investigates the factors behind long-term convergence in the insurance sector by questioning the role of harmonization and regulation across the EMU. By investigating convergence through balance-sheet items, the study sheds light on the role played by the management preferences of insurances across the EMU. Overall, the convergence tests employed within this study provide evidence of limited convergence within the insurance sector across the EMU countries.

Research Articles