We investigate the impact of domestic and international bank-insurance deals on the risk-return profiles of bidding banks, peer banks and peer insurers within a GARCH framework. We find that both announcing and non-announcing firms experience positive abnormal returns with the effect on insurer...

The chapter is organized as follows. The section “The Business Structure of Financial Conglomerates” provides an overarching discussion on the corporate structure of financial conglomerates along with some data on these institutions. The section “The Drivers of Financial Conglomerates”...

We investigate the risk effects of bank acquisitions of insurance companies and securities firms between 1991 and 2012 using a newly constructed dataset of M&A deals. We examine risk changes before and after deal announcements by decomposing risk into systematic and idiosyncratic components....