 An empirical investigation of determinants of life insurers’ performance: Evidence from selected countries in Central, Eastern, and Southeastern Europe (CESEE)Bojan Srbinoski, Klime Poposki and Gorazd Čibej Risk Management and Insurance Review, 2021, vol. 24, issue 3, 293-310 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. Date: 2021 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:rmgtin:v:24:y:2021:i:3:p:293-310 Access Statistics for this article Risk Management and Insurance Review is currently edited by Mary A. Weiss More articles in Risk Management and Insurance Review from American Risk and Insurance Association |
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