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2024 | Book

Brexit and the European Insurance Market

An empirical Analysis of the Impact on the Structure of the European Insurance Market, Stock Market Reactions and the Solvency II Supervisory Regime

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About this book

With the Brexit referendum more than 50% of the British population voted in favour of the UK leaving the EU. Since that event, much speculation has been about Brexit impact on the global economy, also affecting the insurance market. Existing papers and literature indicate potential significant Brexit implications on the structure of the European insurance market due to the loss of the European Passport, the European Solvency II supervisory regime, as well as on stock prices of insurance companies based in the EU and UK, but so far there is no holistic view on this topic. The dissertation aims to bring together the fragmentary information on Brexit implications for the European insurance market, develop methodological approaches further, conduct new analyses, and reflect a holistic picture of the impact of Brexit on the European insurance market, focusing on the structure of the European insurance market, stock market reactions and the Solvency II supervisory regime.

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
On 23 June 2016, the majority of the British population voted to leave the European Union (EU). This event, also known as the Brexit referendum, is considered one of the most significant changes in the United Kingdom’s (UK) economic history. Since that date, there has been much speculation about the impact of Brexit on the global economy.
Antonia Müller
Chapter 2. Theoretical Background and State Of Research
Abstract
Most of the UK population voted to leave the EU in a close referendum on 23 June 2016. Because of this decision and the fact that there was a first vote on leaving the European Communities in 1975, the UK is considered a special case in the history of European integration.
Antonia Müller
Chapter 3. SFCR Content Analysis: Structural Changes due to Brexit
Abstract
The research questions and hypotheses as defined in Section 2.2.4. will be validated by using the content analysis methodology.
Antonia Müller
Chapter 4. Event Study: Impact of Brexit on the Stock Prices of EU- and UK-based Insurance Companies
Abstract
An event study is an empirical financial research methodology to analyse event implications on stock prices (Bodie et al. 2011; Müller and Reuse 2022b, 384). The basis for the event study methodology is the efficient market hypothesis, introduced in Section 2.3.1. Applied to this study, this means that the impact of the Brexit news on the stock prices of listed insurance companies can be analysed using the event study methodology.
Antonia Müller
Chapter 5. Literature Review: Impact Of Brexit On Solvency II
Abstract
To address the research gaps and questions defined in Section 2.4.5. of this dissertation, the literature review methodology is used combined with an equivalence mapping and discussion. The literature review is a common scientific methodology to gain new insights or refining theories by collecting, structuring and analysing existing literature on a specific subject or issue (Arshed and Dansen 2015; Snyder 2019).
Antonia Müller
Chapter 6. Conclusion and Recommendations
Abstract
With the Brexit referendum on 23 June 2016, the majority of the British population voted for leaving the EU. Since this date, there has been much speculation about the impact of Brexit on the economy, including the insurance market.
Antonia Müller
Backmatter
Metadata
Title
Brexit and the European Insurance Market
Author
Antonia Müller
Copyright Year
2024
Electronic ISBN
978-3-658-44310-8
Print ISBN
978-3-658-44309-2
DOI
https://doi.org/10.1007/978-3-658-44310-8