Centro de Documentacion de Fundación MAPFRE - The Impact of EIOPA statement on insurers' dividends : evidence from equity market

MAP20200027409

The Impact of EIOPA statement on insurers' dividends : evidence from equity market / EIOPA. — Frankfurt : EIOPA, 2020

13 p.

En: financial stabilty. Financial stability report: july 2020 . Financial stability report: july 2020. - Luxembourg : European Insurance Occupational Pensions Authority, 2020. - ISBN 978-92-9473-239-2 = ISSN 2467-3722

Sumario: 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

1. Mercado de seguros . 2. Reparto de dividendos . 3. Empresas de seguros . 4. Renta variable . 5. Matemática del seguro . 6. Análisis empírico . I. EIOPA . II. Título.