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An Event Study on the Stock Market Responses of Insurance and Reinsurance Companies in Asia and Europe under Natural Disaster Shocks

Li, Yanjia LU (2025) NEKN02 20251
Department of Economics
Abstract
This paper aims to comprehensively examine the impact of global climate
change, particularly how climate change and the natural disasters it triggers affect the insurance sector in Asia and Europe and the stock market performance of reinsurance companies in both Asia and Europe. Using an appropriate event study methodology, the study investigates the impact of two natural disasters in China and two natural disasters in Japan on the stock indices of related companies.
Popular Abstract
In recent years, natural disasters like floods and storms have become more frequent due to climate change. These events can cause huge financial losses, especially for insurance companies that help people recover from such disasters. This study looks at how four major natural disasters in China and Japan affected the stock prices of insurance and reinsurance companies in Asia and Europe. By analyzing how markets reacted before and after each event, the research shows that different disasters have different effects—sometimes even positive ones. The study also reveals that European companies often handle these risks better, showing how global reinsurance plays a key role in managing climate-related losses.
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author
Li, Yanjia LU
supervisor
organization
course
NEKN02 20251
year
type
H1 - Master's Degree (One Year)
subject
keywords
stock market, natural disaster, Climate Change, Cumulative Abnormal Returns
language
English
id
9211582
date added to LUP
2025-09-12 10:42:07
date last changed
2025-09-12 10:42:07
@misc{9211582,
  abstract     = {{This paper aims to comprehensively examine the impact of global climate
change, particularly how climate change and the natural disasters it triggers affect the insurance sector in Asia and Europe and the stock market performance of reinsurance companies in both Asia and Europe. Using an appropriate event study methodology, the study investigates the impact of two natural disasters in China and two natural disasters in Japan on the stock indices of related companies.}},
  author       = {{Li, Yanjia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{An Event Study on the Stock Market Responses of Insurance and Reinsurance Companies in Asia and Europe under Natural Disaster Shocks}},
  year         = {{2025}},
}