On the macrofinancial determinants of life and non-life insurance premiums

Kód výsledku v 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>

Nalezeny alternativní kódy

RIV/61384399:31110/23:00059300

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

On the macrofinancial determinants of life and non-life insurance premiums

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

On the macrofinancial determinants of life and non-life insurance premiums

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50206 - Finance

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Geneva Papers on Risk and Insurance : Issues and Practice

ISSN

1018-5895

e-ISSN

1468-0440

Svazek periodika

48

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

38

Strana od-do

"760–798"

Kód UT WoS článku

000722536500001

EID výsledku v databázi Scopus

2-s2.0-85119885230