Drawing on the board capital literature, we use a panel data design to investigate the effect of boardroom nationality on the profitability and solvency of property-casualty insurers operating in the United Kingdom (UK). We find that boardroom nationality influences corporate outcomes depending on the financial aspects being measured. For example, North American directors are linked with profitable outcomes, while European directors tend to be associated with better solvency. This reflects differences between the shareholder value corporate culture in North America and stakeholder approaches more common in Europe. Our results could help insurers, regulators, and others (e.g., investors) to better understand the potential performance implications of the appointment of directors of different nationality.

借鉴董事会资本文献，我们使用面板数据设计来调查董事会国籍对在英国 (UK) 运营的财产保险公司的盈利能力和偿付能力的影响。我们发现，董事会国籍会根据所衡量的财务方面影响企业成果。例如，北美董事与盈利结果相关，而欧洲董事往往与更好的偿付能力相关。这反映了北美的股东价值企业文化与欧洲更常见的利益相关者方法之间的差异。我们的结果可以帮助保险公司、监管机构和其他人（例如投资者）更好地了解任命不同国籍的董事对绩效的潜在影响。