Table 2 Descriptive statistics Variable...

Table 2

Descriptive statistics

Variable	Obs	Mean	P50	SD	Min	Max
Insolvency risk	1,428	−1.5553	−1.6108	1.1884	−6.3748	4.0783
ESG controversies	1,428	−66.7119	−60.5634	26.64738	−100	−0.2404
ESG practices	1,428	46.6620	42.8808	17.1145	2.3647	94.93
Reinsurance	1,428	0.1549	0.1371	0.1520	0.0012	1.3963
Premium growth	1,428	0.0802	0.0559	0.2906	−2.0217	1.3838
Equity growth	1,428	0.0577	0.05117	0.2073	−1.8045	1.3838
Leverage	1,428	7.1269	4.0020	8.1163	−41.5122	105.3842
Firm size	1,428	23.7357	23.8436	2.0259	16.5280	27.7615
Inflation	1,412	1.1677	0.9176	1.2553	−0.7	15.7301
HHI	1,414	2.4978	2	1.9290	−0.5300	16.81
GDP growth	1,417	1.2143	0.87	2.1013	−11.2	21.9

Variable	Obs	Mean	P50	SD	Min	Max
Insolvency risk	1,428	−1.5553	−1.6108	1.1884	−6.3748	4.0783
ESG controversies	1,428	−66.7119	−60.5634	26.64738	−100	−0.2404
ESG practices	1,428	46.6620	42.8808	17.1145	2.3647	94.93
Reinsurance	1,428	0.1549	0.1371	0.1520	0.0012	1.3963
Premium growth	1,428	0.0802	0.0559	0.2906	−2.0217	1.3838
Equity growth	1,428	0.0577	0.05117	0.2073	−1.8045	1.3838
Leverage	1,428	7.1269	4.0020	8.1163	−41.5122	105.3842
Firm size	1,428	23.7357	23.8436	2.0259	16.5280	27.7615
Inflation	1,412	1.1677	0.9176	1.2553	−0.7	15.7301
HHI	1,414	2.4978	2	1.9290	−0.5300	16.81
GDP growth	1,417	1.2143	0.87	2.1013	−11.2	21.9

Note(s): Insolvency risk is the neperian logarithm of Z-score multiplied by minus one; ESG controversies is ESG controversies score from Eikon multiplied by minus one; ESG practices is the ESG Score from Eikon; Reinsurance is the ratio of reinsurance premiums paid to total premiums earned; Premium growth is the annual growth of total premiums. Equity growth is the annual growth of total equity; Leverage is the debt to equity ratio; Firm size is the logarithm of total assets; Inflation is the annual inflation rate; HHI is the Herfindahl–Hirschman index calculated as the sum of the squares of all insurance companies’ market share in terms of premiums written, and GDP growth is the annual real GDP growth rate

Source(s): Table by authors

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