European legislation for the prudential regulation of insurance and reinsurance sector has existed since the 1970s … represents a crucial modernization of European insurance regulation. Each of these regimes prescribes its own rules for the …

This paper is a preliminary review of the state of competition in the insurance industry of selected Asian countries … insurance industries of the ASEAN5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. It has four main … sections. Section II surveys the market structure and overall performance of the insurance industry in the ASEAN5 economies …

Mutual insurance companies and stock insurance companies are different forms of organized risk sharing: policyholders … necessary for a stock insurer to offer insurance at a fair premium, but not for a mutual. In the presence of an ownermanager …

industries in the sector-specific takeover market, this working paper proves the common knowledge for the example of … corporate characteristics are of significant importance. With respect to prevailing takeover strategies, the survey reveals a …-affected takeover strategies that are elaborated on more closely within the working paper. Examining an acquisition focus in terms of …

We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard … prediction of the lemons market model-if any, only low-type firms are traded-is likely to be misleading: Merger returns, i.e. the … difference between pre- and post-merger profits, are not necessarily higher for low-type firms. This has two implications. First …

Traditional participating life insurance contracts with year-to-year (cliquet-style) guarantees have come under …

spite of the overall convergence of European takeover and securities trading laws, Germany still shows many peculiarities … will risk their takeover attempt be frustrated by opposing influence groups. …

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous … matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost … CE levels above the average of non-merging banks. Second, banks must exhibit CE changes between merger and evaluation …

We study the concurrent impact of functional, geographic and loan portfolio diversification on the stability of … employed a dynamic Generalised Method of Moments (GMM) model to estimate the impact of diversification on bank stability. Two … diversification literature. Second, it addresses the concerns of endogeneity between diversification and stability. We find that all …