Bancassurance in Europe Past, Present and Future

by Fiordelisi, Franco; Ricci, Ornella

• ISBN13: 9780230271555
• ISBN10: 0230271553
• Format: Hardcover
• Copyright: 2011-12-15
• Publisher: Palgrave Macmillan

Summary

This book offers a comprehensive view on bancassurancefrom its origin to future challenges and opportunities, considering the relevant changes currently interesting the financial services industry. It also provides a detailed review of theoretical and empirical literature dealing with financial conglomeration.

Author Biography

Franco Fiordelisi is professor of Banking and Finance in the Faculty of economics at the University of Rome III, Italy. He is also visiting Research Fellow, at Bangor Business school Bangor university, UK: the Essex Finance Centre of the University of Essex, UK, the European Central Bank: and the Olin Business School of the Washington University in St. Louis, USA. He is author of publications in several journals, including The Journal of Banking Finance Omega-The International Journal of Management, European Financial Management, European Journal of Finance, Applied Economics and Applied Financial Economics. His recent books include Shareholder value in European Banking. New Drivers of performance in a Changing Financial World, Mergers and Acquisitions in European Banking, New Issues in Financial and Credit Markets and New issues in Financial Institutions Management. Ornella Ricci is Assistant Professor of Banking and Finance in the Faculty of Economics at the University of Rome III, Italy. Her main research interests focus on financial conglomeration and bancassurance. she is the author of several publications on financial institutions, including articles in the European Journal of Finance and Applied Financial Economics.

Table of Contents

List of Tables	p. x
List of Figures	p. xii
List of Boxes	p. xiv
Notes on Contributors	p. xiv
Introduction	p. 1
The Development of Bancassurance in Europe	p. 5
Introduction	p. 5
The main determinants of bancassurance	p. 6
The development of bancassurance in Europe	p. 16
Conclusions	p. 22
Bancassurance Products	p. 26
Introduction	p. 26
Financial needs and bancassurance products	p. 27
Bancassurance products satisfying investment and pension needs	p. 30
The recent development of bancassurance	p. 40
Conclusions	p. 50
The Bancassurance Market in Europe	p. 53
Introduction	p. 53
An overview of the insurance industry	p. 54
Bancassurance in practice	p. 62
The traditional channels	p. 67
Bancassurance models	p. 71
Conclusion	p. 82
The Regulatory Framework	p. 86
Introduction	p. 86
The financial conglomerates	p. 88
The supplementary supervision	p. 93
Drivers of regulatory framework	p. 105
Conclusions	p. 111
Insurance Financial Statements	p. 115
Introduction	p. 115
The financial statements of insurance companies: some general remarks	p. 115
The reform project of IFRS 4	p. 120
First comments on relevant aspects in the Exposure Draft	p. 128
Conclusions	p. 132
Studying the Bancassurance Phenomenon:A Literature Review	p. 139
Introduction	p. 139
Testing the diversification hypothesis: how the shift towards non-traditional lending activities affects the risk/return profile of banks	p. 141
Testing the scope economies hypothesis: potential efficiency gains of bank diversification in non-lending activities	p. 155
The market reaction to the announcement of regulatory changes removing barriers among different sectors of the financial services industry	p. 159
The market reaction to the announcement of actual bancassurance M&As	p. 162
Other studies dealing with the bancassurance phenomenon	p. 165
Conclusions	p. 167
Studying the Bancassurance Phenomenon: An Empirical Exploratory Analysis on a European Sample	p. 179
Introduction	p. 179
Methodology	p. 179
Data and variables	p. 182
Results	p. 189
Conclusions	p. 199
Studying the Bancassurance Phenomenon:A Two-Sided Analysis on the Relevant Case of Italy	p. 204
Introduction	p. 204
Data and variables	p. 205
Results	p. 208
Conclusions	p. 215
Conclusions	p. 218
Index	p. 223
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