Creating Value in Insurance Mergers and Acquisitions

This thesis takes up a very acutely relevant topic: „Do M&A transactions in the European insurance sector create value in the short- and long-term?" After national consolidation of the European banking and insurance markets had p- gressed in the 2nd half of the 1990s, the recent years showed an increasing amount of cross-border M&A especially in the banking sector. This development is surprising in light of the M&A paradox, according to which the rate of successful bank transactions is very low, yet the number of size of completed transactions constantly increases. The current empirical eviden