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This study aims to investigate the impact of natural disasters on stock market returns and volatility in the European insurance sector using daily financial data from 3 January 2000 to 2 January 2025. This is done by implementing a GARCH(1,1) model to both the STOXX Europe 600 Insurance index and the broader Euro STOXX 600 index, as well as firm-level data for five of the largest European insurers
