Συγχωνεύσεις και εξαγορές ασφαλιστικών εταιρειών
Mergers and acquisitions of insurance companies
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Keywords
Συγχωνεύσεις – εξαγορές ; Ασφαλιστικές εταιρείες ; SWOT analysis ; Solvency IIAbstract
The purpose of this study is to examine and analyse the strategic phenomenon of “Mergers and Acquisitions” as they are reflected in the private insurance sector, both at local and pan - European level. In line with the above, we will be covering specific topics in this area, such as its overall (financial) trajectory, legislation - related issues and other key concepts that uniquely define the insurance sector. First and foremost, the European directive of Solvency II that took place in January 2016 is going to be thoroughly analyzed, besides the basic insurance principles and the insurance companies that operate in the Greek market. Each company is required to meet the terms and conditions that are described in Solvency II, as will be mentioned on section two of this study, in order for it to be considered solvent and trustworthy so as to be able to cope with possible perils that might arise. At a later stage, we will be covering the subject of “Merger and Acquisitions” on a broader basis, as their different types, their advantages and disadvantages that may affect the companies that are being involved in such a process, are going to be studied and analyzed. At the last part of this essay, the acquisition case study of the firms: “ERGO-Property” and “Casualty”, “ERGO-Life” and “ATE” is being presented, as the most recent and most important merger in the insurance sector. Our study focuses mainly on providing an answer to the following question, if the merger of the above companies proved to be (financially) beneficial to themselves or not. For this purpose, we conduct a qualitative analysis on the financial figures for each of the aforementioned entities separately, as well as the realization of a SWOT analysis on the final entity (“Ergo – ATE”) that resulted from the merger of the above companies.