Srbinoski, Bojan and Poposki, Klime and Čibej, Gorazd (2021) An empirical investigation of determinants of life insurers’ performance: Evidence from selected countries in Central, Eastern, and Southeastern Europe (CESEE). Risk Management and Insurance Review, 24 (3). pp. 293-310. ISSN 1098-1616
Full text not available from this repository.Abstract
Central, Eastern, and Southeastern Europe's life insurance market has received limited attention in the literature due to a lack of available data and lower level of maturity. However, part of the region is characterized by extraordinary growth rates, moderate to high concentration, a heavy presence of foreign affiliates, recent regulatory compliance, and low insurance culture. This study analyzes the firm-specific, industry and macroeconomic determinants of life insurers’ performance in selected CESEE countries. We employ a dynamic panel GMM two-step system estimator and uncover the most important drivers of life insurers’ profitability in the region. We find that size, leverage, liquidity, reinsurance, market share, and business growth matter for total profitability, while expense management drive underwriting profitability. The study expands the current literature on insurers’ performance by examining a neglected region and discusses location-specific characteristics for foreign presence in the region.
| Item Type: | Article |
|---|---|
| Subjects: | Scientific Fields (Frascati) > Social Sciences > Economics and Business |
| Divisions: | Faculty of Tourism and Hospitality |
| Depositing User: | Prof. d-r Bojan Srbinoski |
| Date Deposited: | 23 Sep 2022 11:42 |
| Last Modified: | 23 Sep 2022 11:42 |
| URI: | https://eprints.uklo.edu.mk/id/eprint/7149 |
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