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The development of the institutional investor : the case of Australian life insurers 1945-85
This paper considers the post-war development of asset management practices among Australian life insurers, which have historically been among the largest institutional investors in Australia. A complex process of adaptation and organisational restructuring allowed life insurers to transform from basic investors of policy-holders’ funds to large multifaceted institutional investors in just three decades. Three stages in the development of investment practices are identified. These phases trace the process of expanding existing knowledge bases; diversification; and the acquisition of new skills; consolidation and the integration of these skills into institutional structures; thus completing one cycle of organisational learning and setting the stage for the next.
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Australian economic history reviewVolume
52Issue
3Pagination
270 - 292Publisher
WileyLocation
Richmond, Vic.Publisher DOI
ISSN
0004-8992eISSN
1467-8446Language
engPublication classification
C1 Refereed article in a scholarly journal; C Journal articleUsage metrics
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