Influencers of Life Insurance Investments: Empirical Evidence from Europe
This study analyzes the impact of economic, demographic and cultural factors on life insurance consumption in 28 European countries. The period of study is post financial crisis from 2009-2014, and the study considers many of the emerging Eastern European economies where there have been significan...
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| Format: | Article |
| Language: | English |
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University of Wollongong
2017-09-01
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| Series: | Australasian Accounting, Business and Finance Journal |
| Subjects: | |
| Online Access: | http://ro.uow.edu.au/aabfj/vol11/iss3/7 |
| Summary: | This study analyzes the impact of economic, demographic and cultural factors on life insurance consumption
in 28 European countries. The period of study is post financial crisis from 2009-2014, and the study considers
many of the emerging Eastern European economies where there have been significant insurance sector
reforms recently. Europe is the world’s largest insurance market with 35% of the overall insurance premium
contribution, but ranks third in insurance per capita, hence Europe is an interesting region in which to study
insurance demand. The study observed four economic parameters: GDP per capita, gross savings,
competitiveness of the nation, and inflation, as significant impacts on the insurance consumption in the
region. Two demographic factors, population and education, and two cultural factors, individualism and long
term orientation, appear to impact insurance consumption in the selected countries. |
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| ISSN: | 1834-2000 1834-2019 |