Characteristics of Insurance Companies in the Non-Bank Financial Market

Abstract

The financial market appears as a mechanism which has to affect the optimal allocation of the financial assets, including the balance between the supply and money demand and accumulation.(Fadil Govori, 1998, page 101)
The financial market is a market where transfers of financial assets take place from the subjects that own a redundancy of these assets to those who lack them. This kind of transfer of the assets is done through financial institutions like banks, insurance companies, investment funds, financial companies, investment banks, savings and credit cooperatives, cash savings, pension funds.

Keywords: financial market, non-bank financial market, insurance companies, pension funds, reinsurance