This paper examines the risk/return relationship for life insurance stock returns using CAPM-GARCH. Prior studies use the traditional CAPM and fail to find risk-adjusted returns. Utilizing CAPM-GARCH, we find life insurance stocks provided 7.96% risk adjusted returns for the period 1985-2003....

Several studies have examined the effect of a catastrophic earthquake on the market value of property-liability (P&L) insurers. This study differs from previous ones in that it examines the market effects of revisions to estimated insured losses from the Northridge earthquake over an 18-month...

Recent deregulation of financial services by the Financial Services Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act (GLB), places more reliance on corporate governance to oversee the actions of financial institutions. We examine whether corporate governance variables explain...