Unlike academic research, analyses in the industry and policy sphere focus more on institutional constraints, straightforward data analysis, and policy implications.
Below are the list of articles, reports, case studies, and book chapters I wrote while working at PACICC, Canada's property and casualty insurance guaranty fund.
Full-Length Reports
[5] Grant Kelly, and Zhe Peng, 2025. When, Where and How Often Insurers Fail: 2025 Update, PACICC Research Paper (Global Failed Insurer Catalogue).
[4] Grant Kelly, and Zhe Peng, 2024. When, Where and How Often Insurers Fail: 2024 Update, PACICC Research Paper (Global Failed Insurer Catalogue).
[3] Grant Kelly, Zhe Peng, and Ian Campbell, 2024. When It Rains It Pours: Analyzing Failure Clusters and Canada's Capacity to Respond, PACICC Research Paper (Why Insurers Fail Series).
[2] Grant Kelly, and Zhe Peng, 2023. When, Where and How Often Insurers Fail: Introducing the Global Failed Insurer Catalogue, PACICC Research Paper (Global Failed Insurer Catalogue).
[1] Zhe Peng, Ian Campbell, and Grant Kelly, 2022. Mapping the road to ruin: Lessons learned from four recent insurer failures, PACICC Research Paper (Why Insurers Fail Series).
Short Communications
Grant Kelly, and Zhe Peng, 2025. "P&C Insurers Survive Everything That Mother Nature Throws at Them," Solvency Matters, 28, 5-6.
Grant Kelly, and Zhe Peng, 2024. "Another steady season for most P&C insurers," Solvency Matters, 27, 4-5.
Grant Kelly, and Zhe Peng, 2024. "Diving beneath the surface," Solvency Matters, 26, 5-8.
Grant Kelly, and Zhe Peng, 2024. "The good news continues for most P&C insurers," Solvency Matters, 26, 9-10.
Zhe Peng, and Grant Kelly, 2023. "Bad investment results make good underwriting more important than ever," Solvency Matters, 20, 9-11.
Zhe Peng, and Grant Kelly, 2022. "A Turning Point?", Solvency Matters, 19, 11.
Zhe Peng, 2022. "Recent Insurer Failures in Florida, US," Solvency Matters, 19, 12-13.
Zhe Peng, 2022. "New Failures during the COVID-19 Pandemic," Solvency Matters, 18, 10-11.
Zhe Peng, and Grant Kelly, 2022. "As Good as it Gets,” Solvency Matters, 17, 9-10.
Zhe Peng, and Grant Kelly, 2022. "Every Insurer is Different," Solvency Matters, 17, 11-12.
Zhe Peng, and Grant Kelly, 2022. "PACICC’s advice to insurers: Enjoy the good times while they last," Solvency Matters, 16, 10-11.
Zhe Peng, and Grant Kelly, 2022. "Failed Insurers Around the Globe," Solvency Matters, 16, 12-14.
Book Chapters
Mary Kelly*, and Zhe Peng, 2025. Insuring Wildfires Globally, in Handbook of Insurance (3rd edition, edited by Georges Dionne), SpringerLink.
Martin Halek, and Zhe Peng. "Chapter 18 - Managing Health, Mortality, and Longevity Risk,'' and "Chapter 20 Retirement Planning,'' Risk Management & Insurance (3rd Canadian Edition), edited by Mary Kelly, Martin Halek, and Anne Kleffner, Kendall Hunt Publishing, forthcoming.
Business Case Studies
Yuan (Sabrina) Du, Olga Kanj*, and Zhe Peng, 2024. "Merced Property and Casualty Company: How Climate Risk Led to Its Failure," Ivey Publishing, Case ID W31507.