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Valuation and Value Creation of Insurance Intermediaries


Claudia Max

The book offers a comprehensive analysis of insurance intermediaries from a capital markets perspective. It presents an up-to-date market perspective, drawing the attention to the important trends and developments in the industry and recommends strategies to secure future growth. Further, it offers a detailed description of a valuation approach specifically tailored to small and mid-sized brokers. Research on insurance intermediary M&A reveals that positive abnormal returns are achieved for acquirers. The author points out which factors lead to value creation and investigates performance drivers in the tied agent channel.
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Composing the following doctoral thesis has been a significant and rewarding experience for me. I would like to take this opportunity to cordially thank the people that have supported me in this journey, although not all are mentioned in this short paragraph.

First and foremost, I would like to express my deep gratitude to Prof. Dr. Dirk Schiereck for being my doctoral advisor, his academic guidance as well as constructive feedback.

I would like to additionally mention Prof. Dr. Reiner Quick for agreeing to be the secondary advisor to my dissertation. His comments presented an additional enrichment to my different research approaches.

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