Public intervention in catastrophe insurance markets, supported by the donor community and the World Bank, should be country specific. Low-income countries, where the domestic non-life insurance market is undeveloped, should focus in the short term on the development of sovereign catastrophe...

This dissertation studies the wave of mergers and acquisitions (M&As) in the US property-liability (P-L) insurance industry during the period 1993-2003 from the perspectives of the industry, the firms, and the stockholders. The first chapter examines efficiency and scale economies. It estimates...