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| Author: | Klumpes, P. J. M. Shackleton, M. B. |
| Title: | Valuing the strategic option to sell life indurance business: Theory and evidence |
| Journal: | Journal of Banking and Finance
2000 : OCT, VOL. 24:10, p. 1681-1702 |
| Index terms: | Life insurance Put options Liability Asset valuation |
| Language: | eng |
| Abstract: | The authors present a simple put option pricing procedure within an asset-liability valuation model that can be used to estimate the incentives facing stock-based life insurance firms to voluntarily sell their business under various operating and regulatory conditions. Estimates are derived for samples of 11 sold firms and 24 continuing Australian life insurance companies over a period of industry consolidation. Australian |
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