Impact of Mergers and Acquisitions on European Insurers: Evidence from Equity Markets

Petr Jakubík and Dimitris Zafeiris
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Dimitris Zafeiris: EIOPA

No 7, EIOPA Financial Stability Report - Thematic Articles from EIOPA, Risks and Financial Stability Department

Abstract: Under the current low yield environment insurers are changing their business models and looking for new investment and business opportunities. This is also reflected in an increasing interest in mergers and acquisitions to achieve sufficient returns. However, there is no clear answer in the literature whether this strategy brings the expected positive results. This study empirically tests the effects of mergers and acquisitions (M&A) on share prices of European insurers via an event study. Our results do not confirm the positive impact of such strategies on acquirers’ share prices delivering abnormal returns for shareholders.

Keywords: Insurance; Mergers and Acquisitions; financial stability (search for similar items in EconPapers)
JEL-codes: E27 G22 G28 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2016-06
New Economics Papers: this item is included in nep-com and nep-mac
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Citations: View citations in EconPapers (2)

Published in Financial Stability Report, EIOPA, June 2016, pages 53-65

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Related works:
Working Paper: Impact of Mergers and Acquisitions on European Insurers: Evidence from Equity Markets (2016)
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