Paper Title
GLOBALIZATION OF THE INSURANCE INDUSTRY UNDER COVID-19

Abstract
This study analyzes the impact of the COVID-19 pandemic on the stocks of the insurance industry. While COVID-19 increased morbidity and mortality, other factors resulting from the pandemic benefit the industry. Overall, the response of the shareholders of insurance companies to COVID-19 reflects other sectors in the market like transportation and trade. However, a structural downturn in the insurance industry like the one observed in 2016 was not found during the year 2020. We found that according to shareholders’ estimations, the insurance industry did not suffer from the pandemic more than the economy as a whole. This article focuses on the past two decades comparingthe structural break of the insurance industry in 2016 with that of 2020 due to the COVID-19 pandemic. In addition, during the year 2020, the returns to investors in the insurance industry were very similar to returns in the general market as measured by S&P500. The analysis shows that along with the crisis, shareholders believed that the insurance industry pools risk in a way that will reward insurers for their services without sacrificing profits. Keywords - Insurance, Covid-19, Globalization, Returns.