Universität zu Köln

Interconnectedness in the Financial Sector: Three Essays on the Impact of the Financial Crisis and Banking Shocks on Insurance Firms

Rauch, Jannes (2016) Interconnectedness in the Financial Sector: Three Essays on the Impact of the Financial Crisis and Banking Shocks on Insurance Firms. PhD thesis, Universität zu Köln.

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    Abstract

    This thesis consists of three essays on the interconnectedness between banks and insurance firms. The aim is to answer two important research questions: First, what is the impact of shocks from the banking sector, and the financial crisis of 2008 in particular, on the stock prices of insurance firms and the competitive environment in the insurance sector? Second, do regulatory authorities have the means to mitigate such crises, that is, does the regulatory framework to predict and counteract financial distress in the insurance sector work adequately during a severe financial crisis? The first essay analyzes the consequences of the financial crisis of 2008 on the competitive situation in the German insurance sector. In addition, it examines whether insurance groups’ strategic group affiliation can affect the performance of their subsidiaries. The second essay questions how reliably regulators can forecast the financial strength of insurance firms during the financial crisis of 2008. The third essay examines the impact of policy interventions during the crisis on the stock prices of U.S. insurance firms. In addition, it analyzes the stock market response of insurers towards various shocks from the banking sector.

    Item Type: Thesis (PhD thesis)
    Creators:
    CreatorsEmail
    Rauch, Jannesjrauch@uni-koeln.de
    URN: urn:nbn:de:hbz:38-68616
    Subjects: Management and auxiliary services
    Uncontrolled Keywords:
    KeywordsLanguage
    Insurance, Financial Crisis, Strategic Groups, Solvency PredictionEnglish
    Faculty: Wirtschafts- u. Sozialwissenschaftliche Fakultät
    Divisions: Wirtschafts- u. Sozialwissenschaftliche Fakultät > Institut für Versicherungswissenschaft
    Language: English
    Date: 2016
    Date Type: Publication
    Date of oral exam: 16 June 2016
    Full Text Status: Public
    Date Deposited: 12 Jul 2016 11:58:07
    Referee
    NameAcademic Title
    Schradin, Heinrich R.Prof. Dr.
    Hartmann-Wendels, ThomasProf. Dr.
    URI: http://kups.ub.uni-koeln.de/id/eprint/6861

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