Determinants of Life Insurance Demand in the MENA Region

Mouna Zerriaa () and Hedi Noubbigh ()
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Mouna Zerriaa: Finance, IHEC Carthage, Présidence, Tunis 2016, Tunisia.
Hedi Noubbigh: Accounting Department, IHEC Carthage, 4 rue des Vergers, Khaznadar, Tunis 2017, Tunisia.

The Geneva Papers on Risk and Insurance - Issues and Practice, 2016, vol. 41, issue 3, 511 pages

Abstract: This paper investigates the determinants of life insurance consumption in the Middle East and North Africa (MENA) region using a sample of 17 countries over the period 2000–2012. We use two measures of life insurance demand: insurance density and insurance penetration. The research results suggest that consumption increases with income, inflation and interest rates. The country’s level of financial development also enhances life insurance sales, whereas social security expenditures dampen them. Moreover, life expectancy and educational attainment appear to stimulate life insurance demand, whereas young dependency tends to decrease consumption. Urbanisation does not appear to influence life insurance demand. We also find evidence that life insurance demand is lower in predominantly Islamic countries.

Date: 2016
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