The Determinants of Non-life Insurance Penetration in Selected Countries from South Eastern Europe

Poposki, Klime; Kjosevski, Jordan; Stojanovsk, Zoran

doi:10.18559/ebr.2015.3.3

Cited by 7 publications

(7 citation statements)

References 36 publications

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“…Born and Bujakowski (2022) point out the importance of monetary stability, consumer safeguards, licensing and trading practices, and government transfers, affecting propertycasualty and life-health insurance consumption. Our study departs from the purely macroeconomic factors that were previously examined in studies of non-life insurance demand (Poposki et al, 2015) and insurance expenditures (Trinh et al, 2016). Instead, we show the innate consumer preferences and the idiosyncratic microeconomic linkages that are unique to each insurance entity.…”

Section: Theoretical Frameworkcontrasting

confidence: 61%

Empirical Revisiting of the Macedonian MTPL Insurance Case and the Underlying Factors of Influence

Peovski¹,

Ivanovski²,

Ahmedi³

2022

Proceedings of the International Conference "Economic and Business Trends Shaping the Future"

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Motor third-party liability insurance (MTPL) remains one of the dominant insurance classes in the Macedonian economy even besides the government regulated tariff system imposed. Pinpoint the key variables of interest has spurred debates for a prolonged period but without growing results in global literature, decreasing the ability to observe relationships important for the future liberalized system. Through a fixed effects panel regression this paper estimates the impact of MTPL premiums, claims, number of contracts, and market share on MTPL premium dynamics during the 2012-2021 period. The Macedonian empirical case suggests that the previous period number of contracts is not a significant determinant, unlike others. A positive impact is noted for the number of claims per contract, one period lagged MTPL premium per contract and MTPL concentration of the market. Adverse influence is found for the share of MTPL insurance in total GWP per company, one period lagged claims per contract and the market concentration of MTPL claims. Such observations help us understand the underlying forces in a non-liberalized MTPL market and propose business expectations for the future.

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Section: Theoretical Frameworkcontrasting

confidence: 61%

Empirical Revisiting of the Macedonian MTPL Insurance Case and the Underlying Factors of Influence

Peovski¹,

Ivanovski²,

Ahmedi³

2022

Proceedings of the International Conference "Economic and Business Trends Shaping the Future"

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“…This result is consistent with the works of Treeratattanapun (2011), Petkovski.M, et al (2013), and S.L.Dragos (2014. However, the findings of Poposki.K, et al (2015), are not in line with this finding that shows significant but negative impact of education level on demand for non-life insurance. Therefore, based on the regression result, and on the most of empirical studies mentioned above, the researcher rejects the null hypothesis that the education level and the nonlife demand for insurance have no significant relationship, and accepts that education level has an impact on non-life insurance demand in Jordan.…”

Section: Education Levelmentioning

confidence: 94%

“…The OLS regression model has been employed as statistical tool for data analysis. The model to be used in the study is specified in line with the works of Petkovski.K , et al (2013), Poposki.K, et al (2015), andKjosevki.J, et al (2015), with some modifications. The functional relationship between non-life insurance demand and the above-mentioned variables is explored by considering the following equation.…”

Section: Methodsmentioning

confidence: 99%

The Drivers of Demand for Non-Life Insurance

Alghusin¹,

A.Kasasbeh²

2019

Proceedings of the 2nd International Conference on Advanced Research in Business, Management and Economics

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The purpose of this study is to examine the main factors that may determine non-life insurance demand in Jordan during the period 1990 to 2015. The study employed multiple regression model. By applying OLS regression, it has been found that income level, population size, trade activity and interest rate have significant effect on demand for non-life insurance in Jordan. These results are consistent with most of empirical researches in this area.

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“…In a study on the Philippine non-life insurance industry, Datu (2016) found no influence of GDP and Inflation on profitability, using both ROA and Operating Ratio model. The impact of inflation was found to be significantly negative on the insurance sector by Camino-Mogro and Bermúdez-Barrezueta (2019) and Deyganto and Alemu (2019), whereas the positive impact of GDP per capita and Inflation in non-life insurance penetration was revealed in a study on selected nations from South-Eastern Europe (Poposki, 2015). In an investigation of 15 countries, Balcilar (2020) found that uncertainty in the economic policies of a nation influences the Insurers.…”

Section: Literature Surveymentioning

confidence: 96%

Do macro-economic factors drive life insurance growth An empirical analysis

Chakraborty¹,

Das²

2022

IJMEF

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The Indian Economy is fast coping up with the global competition and making its mark in the world economy. In the past two decades, the Insurance Industry in India has registered its growth in terms of escalating penetration and density, but the growth is not at par its true potential. This calls for a need to elevate the visibility of the insurance sector and to identify the factors that influence its growth. This study is an attempt to identify the macro-economic factors that influence the Life Insurance sector in India.A time series analysis involving data for 39 years was considered using empirical methods including Engle-Granger co-integration, ordinary least square, and granger causality. The results indicated that FDI, inflation, interest rate and broad money (M2) plays a significant role in the growth of Life Insurance industry in India and, inflation and interest rate has causal relation with life insurance sector.

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The Determinants of Non-life Insurance Penetration in Selected Countries from South Eastern Europe

Cited by 7 publications

References 36 publications

Empirical Revisiting of the Macedonian MTPL Insurance Case and the Underlying Factors of Influence

Empirical Revisiting of the Macedonian MTPL Insurance Case and the Underlying Factors of Influence

The Drivers of Demand for Non-Life Insurance

Do macro-economic factors drive life insurance growth An empirical analysis

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