Benjamin, Kleidt; Dirk, Schiereck; Christof, Sigl-Grueb - In: Journal of Business Valuation and Economic Loss Analysis 4 (2009) 2, pp. 1-27
We study the valuation impact on 148 insurance stocks caused by 25 of the largest catastrophic events that occurred in recent history. Because of their exceptional severity and the consequent high attention they experience in the media we expect to find significant overreactions of insurance...