On the macrofinancial determinants of life and non-life insurance premiums
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10248435" target="_blank" >RIV/61989100:27510/23:10248435 - isvavai.cz</a>
Alternative codes found
RIV/61384399:31110/23:00059300
Result on the web
<a href="https://link.springer.com/article/10.1057/s41288-021-00249-z" target="_blank" >https://link.springer.com/article/10.1057/s41288-021-00249-z</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1057/s41288-021-00249-z" target="_blank" >10.1057/s41288-021-00249-z</a>
Alternative languages
Result language
angličtina
Original language name
On the macrofinancial determinants of life and non-life insurance premiums
Original language description
This paper tests potential determinants of the development of the insurance sector. Using a rich dataset for 24 European countries spanning two decades, we identify a set of macrofinancial factors that are the most robust predictors of growth of gross premiums in the life and non-life insurance sectors. We show that both life and non-life premiums co-move with the business cycle and are positively related to higher savings and a more developed financial system. In addition, we provide new evidence on the role of market concentration and price effects. We find that market concentration matters only for life insurance, whereas the price channel is significant only for non-life insurance. From a policy perspective, our empirical estimates can be used to refine the existing macroprudential stress tests of the insurance sector.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Geneva Papers on Risk and Insurance : Issues and Practice
ISSN
1018-5895
e-ISSN
1468-0440
Volume of the periodical
48
Issue of the periodical within the volume
4
Country of publishing house
GB - UNITED KINGDOM
Number of pages
38
Pages from-to
"760–798"
UT code for WoS article
000722536500001
EID of the result in the Scopus database
2-s2.0-85119885230