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We investigate the impact of new financial and economic determinants on life insurance demand for 29 OECD countries for the period 2005–2017 while controlling for a set of widely used socio-demographic and economic characteristics. Based on a panel smooth transition regression model, we find a regime-switching effect characterising the impact of bank concentration and interest rate on the size of the life insurance market, in light of the old-age dependency ratio as the threshold variable. We also show that life insurance development is boosted in countries with high scores for investment freedom and with high levels of foreign direct investment rates, regardless of the level of the old-age dependency ratio. The impact of GDP per capita on the demand for life insurance products is positive and statistically significant, regardless of the level of the threshold variable. [ABSTRACT FROM AUTHOR]

Life insurance in the Western Balkan Countries is underdeveloped, but it has huge potential for development in the future. The scope of this article is to examine whether and how economic, socio- demographic, and institutional factors determine the demand for life insurance in the Western Balkans, using life insurance density and life insurance penetration as indicators of life insurance demand during 2006-2019. In order to conduct a crosscountry analysis we use panel data regression models and a feasible generalised least squares regression model. The analysis reveals that the most significant factors are income per capita and changes in the urban population. The article contributes to the existing literature by identifying the variables that affect demand for life insurance in the Western Balkans and by providing evidence for insurance operators, authorities, and governments of the respective countries to find ways to further develop the insurance market.

The life insurance industry has experienced phenomenal growth over the years. The broad aim of this study was to establish the variables that influence the demand for life insurance in the BRICS countries (Brazil, Russia, India, China and South Africa). Although many studies have investigated the determinants of life insurance demand, little research has considered the supply-side factors such as financial regulation. Therefore, this study also contemplated the effect of the financial regulation variable on life insurance demand. The inquiry employed a panel of the BRICS bloc of countries as a unit of analysis for 1999–2020 and applied panel data econometric techniques. The study found that the life insurance demand variable (proxied by life insurance density and alternatively by life insurance penetration) was negatively affected by income, unemployment, interest rates and inflation variables. Furthermore, the study documented a positive relationship between life insurance demand and the economic growth and financial freedom variables. This study implies that regulatory authorities should deregulate the life insurance sector to foster financial freedom. [ABSTRACT FROM AUTHOR]

The life insurance industry has experienced phenomenal growth over the years. The broad aim of this study was to establish the variables that influence the demand for life insurance in the BRICS countries (Brazil, Russia, India, China and South Africa). Although many studies have investigated the determinants of life insurance demand, little research has considered the supply-side factors such as financial regulation. Therefore, this study also contemplated the effect of the financial regulation variable on life insurance demand. The inquiry employed a panel of the BRICS bloc of countries as a unit of analysis for 1999–2020 and applied panel data econometric techniques. The study found that the life insurance demand variable (proxied by life insurance density and alternatively by life insurance penetration) was negatively affected by income, unemployment, interest rates and inflation variables. Furthermore, the study documented a positive relationship between life insurance demand and the economic growth and financial freedom variables. This study implies that regulatory authorities should deregulate the life insurance sector to foster financial freedom.

Life insurance has emerged as an important industry in the complex modern world, since risk which can be insured has increased enormously in every walk of life. This has led to the growth of insurance business and evolution of various types of insurance products and theories of life insurance. Its importance varies with the economic, political and social conditions of each nation. In general, the more economically advanced a country is, the greater the role played by insurance. The Life Insurance Corporation of India remained the only business firm for providing life insurance in India since 1956. However, the liberalization in life insurance sector in India in1999 led to tremendous transformation from monopoly business to a vibrant sector. The entire sector has started to show significant change right from increasing life insurance penetration and life insurance density to changing the customer mindset about life insurance. Creative practices in marketing and innovative policies have changed the entire dimensions of the life insurance sector. The present study 'The Performance, Challenges and Future Prospects of Life Insurance Sector in India A Study with Special Reference to Kerala' is an analytical study that examines in detail the life insurance sector in India in terms of its performance, the impact of liberalization on the performance of life insurance sector, the problems of life insurers and the future prospects of life insurance sector in Kerala. [ABSTRACT FROM AUTHOR]

In this paper we analyzed the insurance density in the European Union to observe the differences in the average premium per capita regarding general and life insurance, in terms of value and structure, as well as the causes of these differences. Often, in order to determine the level of development of the insurance market, insurance density is used as an indicator. In 2009, the citizens who have invested the most in insurance were those from developed countries and, of course, that have a high degree of culture in terms of insurance, for example those in the Netherlands, Denmark, France, Sweden, Belgium, etc. Instead, the citizens of South-Eastern European countries, which have a low living standards, but there are also developing countries regarding the insurance sector, invest very little. [ABSTRACT FROM AUTHOR]