The World's Insurance Industry Mergers And Acquisitions And Their Impact Analysis

Since 1 990,the insurance companies of the developed countries have dedicated to merger and acquisition. Compared with the past, the range and scale involved in the current merger and acquisition becomes larger and larger. Simultaneously, the giant insurance companies trend to merger and cooperate with the same scale insurance companies and banks, then they step into diversification and almightiness. Obviously, in the case of globalization of economy and liberalization of finance, with adjustment of international finance system and relaxation of regulation, the insurance companies must improve their competition power and control risk. In the face of the severe international competition and entry to WTO, inevitably, we have to affront an important issue: Can the insurance companies of China strengthen themselves by the means of merger and acquisition? And how? The answer is very important for us to develop and consummate the insurance companies of China. On one hand, only basing on it, government can institute strategy of the insurance industry; on the other hand, it has a great pushing effect on the insurance companies to establish their tactics and means of merger and acquisition. That is why this theme is chosen for the dissertation. In style of writing, this dissertation adopts the logical deduction approach, drawing on the principle of modern economics, and following the positive analysis. In theoretical analysis, by adopting efficiency theory, the principle of transaction cost and game theory, it elaborates the historical background of the current merger and acquisition, and endeavors to institute the fundamental frame of merger and acquisition. In positive analysis, this dissertation adopts the historical analysis approach, and summarizes the experiences of merger and acquisition of the developed countries from the international comparison, applying the methods of enumeration and demonstration. On the basis of them, this dissertation I.? probes into the merger and acquisition of the insurance companies of China. Following the systematic deduction, this dissertation consists of four chapters in structure. The first chapter reviews the past merger and acquisition, and analyzes the background of merger and acquisition of world insurance market. The second chapter endeavors to establish the fundamental theory frame of the merger and acquisition, which is the theoretical pivot of the whole dissertation. As the trunk of the whole dissertation, the third and forth ones positively analyze the merger and acquisition of the insurance companies of the developed countries,, and make some suggestions in terms of how to implement merger and acquisition in China. The main contents and viewpoints are as follows: Chapter One reviews the past merger and acquisition of the insurance companies in the world. Then it summarizes the characteristic of the current merger and acquisition: large scale, almightiness and bancassurance. Considering merger and acquisition of the insurance companies depending on the international economy condition, this chapter emphasizes the analysis of the background of merger and acquisition. Obviously, the insurance companies have intense motive to merge others because of scale economy in essence. With globalization of economy and liberalization of finance, the new high technology has been introduce...