MACROECONOMIC DETERMINANTS OF INSURANCE COMPANIES’ FINANCIAL STABILITY: THE CASE OF THE CZECH REPUBLIC

Iveta Palečková and Lenka Přečková
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Iveta Palečková: Silesian University, Czech Republic

Studies in Business and Economics, 2023, vol. 18, issue 1, 218-230

Abstract: The study assesses the determinants of the financial stability of the Czech commercial insurance companies within the period 2004-2019. The eight macroeconomic determinants of the financial stability of insurance are analysed for both insurers, i.e., with predominated life and non-life insurance. The generalized method of moments is used for empirical analysis. The results show four macroeconomic variables were statistically significant determinants of financial stability in the case of non-life insurers and three determinants influenced the financial stability of life insurers. The study concludes that the determinants of the financial stability of non-life insurers were different that in the case of life insurers. Moreover, the impact of several determinants is also different in case life and non-life insurers in the Czech Republic.

Keywords: Life insurance; non-life insurance; financial stability index; real Gross Domestic Product growth rate; generalized method of moments (search for similar items in EconPapers)
Date: 2023
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