The European insurance sector went through a radical transformation, which began in the 1990s and is still continuing. Deregulation, implementation of the EMU, progress in information and communication technology, and economic forces such as favorable financial markets, highlighted solvency concerns and soft insurance markets drove the transformation process.1 Regulatory harmonization took a quantum leap with the introduction of the Third Generation Insurance Directives for life and non-life insurance in 1992, which for example eliminated price and product regulations, ensured cross-recognition of licenses and restrictted host country control to solvency requirements.2


Abnormal Return Cumulative Abnormal Return European Insurance Case Study Methodology Bank Merger 
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© Gabler | GWV Fachverlage GmbH 2009

Authors and Affiliations

  • Andreas Schertzinger

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