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The authors express their appreciation to the two referees who provided numerous constructive suggestions on earlier versions of this paper.
†The financial support of the University Research Institute is gratefully acknowledged.
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MacMinn, R., Witt, R. A Financial Theory of the Insurance Firm Under Uncertainty and Regulatory Constraints. Geneva Pap Risk Insur Issues Pract 12, 3–20 (1987). https://doi.org/10.1057/gpp.1987.1
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DOI: https://doi.org/10.1057/gpp.1987.1