Universität zu Köln

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:	Creators Email ORCID ORCID Put Code Rauch, Jannes jrauch@uni-koeln.de UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-68616
Date:	2016
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Externe Einrichtungen > An-Institute > Associated Institutes of the Faculty of Management, Economics and Social Sciences > Institute of Insurance Science
Subjects:	Management and auxiliary services
Uncontrolled Keywords:	Keywords Language Insurance, Financial Crisis, Strategic Groups, Solvency Prediction English
Date of oral exam:	16 June 2016
Referee:	Name Academic Title Schradin, Heinrich R. Prof. Dr. Hartmann-Wendels, Thomas Prof. Dr.
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/6861