Vol.4, No 2, 2007 pp. 161 - 171
UDC 368.032.3
MERGER ACTIVITY IN THE INSURANCE INDUSTRY
Klime Poposki
University St. Kliment Ohridski, Bitola, Macedonia
Faculty of Tourism and Hospitality, Ohrid, Insurance Department
The great pace of merger activity that has involved financial institutions
in recent years has attracted quite an interest. With this paper we contribute
to the understanding of the benefits and performance measures of mergers
among the insurance companies. The prevalence of financial synergies is
the main motive for merger and acquisition activity in the insurance industry.
The investigation into financial synergies focuses on solvency, liquidity
and leverage issues. Also, we employed a match-pair research to analyze
the pre-merger performance and the effects of merger on performance of
the sample of acquired firms.
Key words: insurance companies, mergers, financial synergies,
performance measures.
MERDŽER AKTIVNOST U INDUSTRIJI OSIGURANJA
Veliki napredak u aktivnostima vezanim za merdžere jeste uključivanje
finansijskih institucija i stvaranje opštih interesa za sve učesnike
u tom procesu. U ovom radu čini se pokušaj davanja doprinosa razumevanju
koristi i merenja performansi merdžovanja između osiguravajućih kompanija.
Koristi od finansijske sinergije jesu glavni motiv za merdžere i akvizicije
u sektoru osiguranja. Istraživanje unutar finansijske sinergije fokusira
se na solventnost, likvidnost i finansijski leveridž. Takođe, primenjivaćemo
tzv. "match-par" istraživanje da bi analizirali performanse i efekte pre
i nakon preuzimanja posmatranih firmi.
Ključne reči: osiguravajuće kompanije, merdžeri, finansijska
sinergija, merenje performansi
