Creating Value in Insurance Mergers and Acquisitions

Creating Value in Insurance Mergers and Acquisitions Summary:

By Andreas Schertzinger

Publisher:   Gabler

Number Of Pages:   344

Publication Date:   2009-05-01

ISBN-10 / ASIN:   3834914541

ISBN-13 / EAN:   9783834914545

Product Description:

The fundamental economics of the European insurance industry and specifically the impact of the recent economic crisis on the financial services sector are likely to cause a wave of M&A transactions in the insurance sector.

An event study of the previous M&A cycle in the European insurance industry shows that M&A transactions on average achieve short-term value creation. However, there is a significant dispersion among individual transactions and, in the long term, the average M&A transaction destroys value. 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.

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