Insurance Company Mergers And Acquisitions
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Creating Value In Insurance Mergers And Acquisitions
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Author : Andreas Schertzinger
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-06-30
Creating Value In Insurance Mergers And Acquisitions written by Andreas Schertzinger and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-30 with Business & Economics categories.
Andreas Schertzinger identifies determinants of successful transactions, such as transaction timing and diversifying transaction strategy, through a multivariate statistical analysis. Two case studies illustrate success factors specifically related to the conduct of transactions in greater detail.
Mergers And Acquisition For The Insurance Industry
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Author :
language : en
Publisher:
Release Date : 2005
Mergers And Acquisition For The Insurance Industry written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Consolidation and merger of corporations categories.
Success Of Mergers And Acquisitions In The Insurance Industry What Can We Learn From Previous Empirical Research
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Author : Sven Bach
language : en
Publisher: GRIN Verlag
Release Date : 2014-08-20
Success Of Mergers And Acquisitions In The Insurance Industry What Can We Learn From Previous Empirical Research written by Sven Bach and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-20 with Business & Economics categories.
Doctoral Thesis / Dissertation from the year 2014 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Cologne (Seminar für Allg. BWL, Risikomanagement und Versicherungslehre), language: English, abstract: Since the 20th century, the insurance industry has experienced an unprecedented wave of M&A. However, in spite of the drastic increase in insurance M&A activity, there has been little consistent empirical evidence on the value enhancement of these deals. Hence, many open questions still exist in this research area. The most fundamental questions are whether insurance M&A actually create value and what determinants influence the success of these undertakings. This thesis attempts to find answers to these questions by first examining the status quo of academic literature published in this field of research and bringing together the empirical findings on the success of insurance M&A and its influencing factors. Overall, the literature review outlines that insurance M&A on average tend to create value for shareholders of the target firms as well as for the combined entity of acquirer and target. Moreover, shareholders of acquiring US insurance firms, on average, also benefit from these corporate undertakings. However, negative short-term as well as long-term wealth effects for acquiring insurers’ shareholders are the common finding in capital market studies analyzing the effects of M&A transactions in the European insurance industry. Secondly, the reliability and validity of the findings of previous research are tested in an own empirical analysis which uses a fairly new approach to evaluating the success of M&A by using the idea of stochastic dominance (SD). More precisely, using a sample of 102 transactions conducted by publicly traded Western European insurance firms between the years 1993 and 2009, this work analyzes whether investors in acquiring insurance firms benefit from M&A by comparing return distributions of acquiring firm portfolios with benchmark portfolios using the first two orders of SD. The results show that insurance M&A trigger a negative short-term capital market reaction for acquiring European insurance firms. However, this short-term underperformance diminishes over time, and over a longer period of time of up to three years after M&A announcement, there is no underperformance of acquiring European insurers. In conclusion, based on the accumulated evidence from past empirical studies as well as the empirical investigation of this thesis, it can be concluded that M&A, not only in the US insurance market but also in the European insurance market, seem to be a viable model and are likely to lead to success for all parties involved.
Insurance Company Mergers And Acquisitions
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Author :
language : en
Publisher: Thomson West
Release Date : 2009
Insurance Company Mergers And Acquisitions written by and has been published by Thomson West this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Consolidation and merger of corporations categories.
Insurance Company Mergers and Acquisitions is an authoritative, insiders perspective on key strategies for representing and advising insurance companies during M&A proceedings. Featuring partners from some of the nations leading law firms, these experts guide the reader through the different phases of the insurance industry mergers and acquisitions process, including completing due diligence, drafting the letter of intent, preparing documentation, and closing the deal. From providing tips on how to manage the regulatory approval process to how to better prepare for unexpected factors that can influence the timing and outcome of the deal, these authors outline the challenges and costs associated with insurance M&A filings. These top lawyers reveal their advice for remaining up-to-date on industry trends, complying with filing deadlines, managing media relations, and understanding the unique aspects of insurance mergers and acquisitions. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating this ever-evolving area of law.
Insurance Industry Mergers Acquisitions
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Author : Jim Toole
language : en
Publisher:
Release Date : 2005-05
Insurance Industry Mergers Acquisitions written by Jim Toole and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05 with Business & Economics categories.
Insurance Mergers And Acquisitions
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Author : Wolcott B. Dunham
language : en
Publisher:
Release Date : 1992
Insurance Mergers And Acquisitions written by Wolcott B. Dunham and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Consolidation and merger of corporations categories.
Value Effects From Mergers And Acquisitions In The European Insurance Sector
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Author : Marlon Sandvoss
language : en
Publisher:
Release Date : 2019
Value Effects From Mergers And Acquisitions In The European Insurance Sector written by Marlon Sandvoss and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
After declining M&A activities in the European insurance sector since the beginning of the global financial crisis, mergers and acquisitions and strategic investments of insurers have again gained momentum in recent years. The existing literature about shareholder value effects from insurance M&A transactions is limited and provides partly inconsistent findings especially for acquiring insurers. Therefore, this thesis reviews the current understanding of European insurance M&A performance and empirically investigates the short-term shareholder value effects, resulting from M&A activities between Western European insurers on the acquirer side and worldwide insurance firms on the target side. Using an event study methodology for a recent European M&A transaction data set, abnormal stock returns of the corresponding insurers in the sample are analysed. The study finds insignificant value gains for acquiring insurers while worldwide target insurance companies achieve significant positive cumulative average abnormal returns around M&A announcements. In addition, a subsample analysis provides further insights into relevant company and transaction characteristics that tend to influence value effects in the context of insurance M&A transactions. Characteristics that tend to have value effect influencing relevance include the public status of targets, the strategic transaction direction, and the transaction value as well as the geographic transaction focus besides the applied payment considerations.
Changes In The Life Insurance Industry Efficiency Technology And Risk Management
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Author : J. David Cummins
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Changes In The Life Insurance Industry Efficiency Technology And Risk Management written by J. David Cummins and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Major challenges for life insurance companies have been posed by an unprecedented wave of mergers and acquisitions in the insurance industry and the emergence of non-traditional competitors such as banks, mutual fund companies and investment advisory firms. This is the first book to analyze the determinants of firm performance in the life insurance industry by identifying the `best practices' employed by leading insurers to succeed in this dynamic business environment. The book draws upon data from insurer financial statements as well as upon an extensive survey of life insurer management practices and strategic choices in distribution systems, information technology, mergers and acquisitions, human resources and financial strategies. Generic strategies such as cost leadership, customer focus, and product differentiation are analyzed as well as strategic practices specific to the insurance industry. Best practices are identified by measuring the economic efficiency of insurers and by comparing firms across the industry. Both cost and revenue efficiency are measured relative to best practice efficient frontiers consisting of the industry's dominant life insurance firms. Economies of scale and the effects of mergers and acquisitions on efficiency are also analyzed. Financial strategies are examined with specific reference to pricing policy, valuation of assets and liabilities, and the current state of firm-level risk management systems. The benchmarks established are the result of extensive fieldwork that identifies key financial risks and methodologies to both measure and manage them at the firm level. The results discussed in the book indicate that firm performance is significantly correlated with management practices and strategic choices. Thus, life insurers can improve profitability by adopting optimal combinations of strategies. The book contains important new material on the effects of strategic choices in product distribution systems, information technology, mergers and acquisitions, human resources, and financial risk management policies. In the area of efficiency, the methodology provides a new approach for identifying peer groups of insurers and measuring the performance of individual insurers relative to their peer group. On the topics of risk and pricing, new insights are offered relative to current methodologies and in regard to areas where improvement is clearly warranted. The book concludes with an analysis of the future opportunities and challenges in the life insurance industry facing managers, and the strategic options available to them to cope with these changes.
Mergers And Acquisitions In The Global Insurance Industry
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Author : Barbara Hadley
language : en
Publisher:
Release Date : 1999-12-31
Mergers And Acquisitions In The Global Insurance Industry written by Barbara Hadley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-12-31 with categories.
An examination of the key drivers of change in insurance companies and the effect on the industry globally, this report looks at questions such as: Have mergers and acquisitions achieved the expectations of senior management, shareholders and the market?; What will the future hold for suppliers and brokers in the global insurance industry?; and How will new distribution channels affect insurers in the future? There is also a look at the future for small insurers, and the overlap with the banking industry.
Insurance Industry Mergers Acquisitions
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Author : Jim Toole
language : en
Publisher:
Release Date : 2005-05
Insurance Industry Mergers Acquisitions written by Jim Toole and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05 with Business & Economics categories.