Universität zu Köln

Schuh, Frederick and Jaeckle, Tanja . Impact of hurricanes on US insurance stocks. Risk Manage. Insur. Rev.. HOBOKEN: WILEY. ISSN 1540-6296

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Abstract

This paper analyzes the impact of hurricanes on insurance stock returns in the United States. The objective is to assess the reaction of insurance stock prices caused by hurricanes using an extensive data sample consisting of the costliest hurricanes since 2004. We aim to understand the insurance stock price reactions and provide possible explanations for the observed results. The main outcome is a negative abnormal return for all examined time windows. Analyses of impact factors show that high-category hurricanes have more negative abnormal returns in comparison to low-category hurricanes. The latter category is even positively correlated with the cumulative abnormal return. The regression model indicates a statistically significant negative correlation between the cumulative abnormal return and the damage caused by the hurricane.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Schuh, Frederick UNSPECIFIED UNSPECIFIED UNSPECIFIED Jaeckle, Tanja UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-663353
DOI:	10.1111/rmir.12230
Journal or Publication Title:	Risk Manage. Insur. Rev.
Publisher:	WILEY
Place of Publication:	HOBOKEN
ISSN:	1540-6296
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language EXPOSURE-BASED ANALYSIS; VALUES Multiple languages Business, Finance; Economics Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/66335