The Impact of EIOPA statement on insurers' dividends : evidence from equity market

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      <subfield code="a">The Impact of EIOPA statement on insurers' dividends </subfield>
      <subfield code="b">: evidence from equity market</subfield>
      <subfield code="c">EIOPA</subfield>
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      <subfield code="a">Frankfurt</subfield>
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      <subfield code="a">In an environment of a quick unfolding crisis with high uncertainty, the European Insurance and Occupational Pensions Authority issued on 2nd April 2020 a statement requesting (re)insurers to suspend all discretionary dividend distributions and share buy backs aimed at remunerating shareholders. Although, this should have a positive impact on the overall financial stability of the sector, it could have a negative impact on insurers' equity prices as a response to the published statement. Hence, this article empirically investigates this potential effect using an event study methodology. Although, negative drops were observed in some cases, the obtained empirical results suggest that they were not statistically significant for the overall European insurers' equity market when considering the event windows covering a few days after the publication.</subfield>
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      <subfield code="a">Mercado de seguros</subfield>
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      <subfield code="a">Reparto de dividendos</subfield>
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      <subfield code="a">Empresas de seguros</subfield>
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      <subfield code="a">Matemática del seguro</subfield>
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      <subfield code="a">Análisis empírico</subfield>
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      <subfield code="i">financial stabilty. Financial stability report: july 2020 </subfield>
      <subfield code="t">Financial stability report: july 2020</subfield>
      <subfield code="d">Luxembourg : European Insurance Occupational Pensions Authority, 2020</subfield>
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      <subfield code="z">978-92-9473-239-2</subfield>
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