Determinants of Sharia Life Insurance Density in Indonesia

2020 ◽  
Vol 24 (03) ◽  
pp. 675-687
Author(s):  
Karin Amelia Safitri
Keyword(s):  
Life Insurance ◽  
Insurance Density

Market Micro Structure of Indian Life Insurance Industry: A General Trend Analysis

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Tanu Dhingra
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Graphical Analysis ◽  
Insurance Premium ◽  
First Year ◽  
Micro Structure ◽  
Life Insurance Industry ◽  
Risk Management Process ◽  
Insurance Density ◽  
New Policies

In 1991, Indian economy was liberalized in a big way. In this financial liberalization, our study is focused on ascertaining trends due to structural reforms affected in the life insurance industry. The present study explains the concept of market micro structure. It also elaborates upon the concept of insurance from three perspectives and incorporates the risk management process. The main emphasis of the study is to ascertain the growth trends of variables peculiar to life insurance industry. The study reveals a growth and graphical analysis of life insurance penetration, life insurance density, new policies issued, first year premium and total life insurance premium and shows that insurance industry has been on a growth path as all the above mentioned variables have shown a consistent rise.

scholarly journals Socio-Economic, Demographic and Institutional Variables’ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar

2016 ◽  
Vol 9 (1) ◽  
pp. 10
Author(s):  
Momar Sylla Dieng ◽  
Mouhamadou Fall
Keyword(s):  
Financial Development ◽  
Life Insurance ◽  
Insurance Premium ◽  
Sub Saharan Africa ◽  
Mixed Effect ◽  
Institutional Variables ◽  
Panel Model ◽  
Insurance Density ◽  
Sub Saharan ◽  
The Relationship

<p>This study empirically analyzes the Socio-economic, Demographic and Institutional Variables’ Impact on the Development of Life Insurance in Sub-Saharan Africa and Madagascar taking into account the Socio-economic and the Cultural structures of the set of countries. A mixed effect panel model is used to estimate the relationship between these variables and life insurance provisions, life insurance density and life insurance premium. covering the period 2000-2013, we found that financial development and urbanization are the only variables significantly related to all the variables of interest.</p>

scholarly journals Growth of Indian Life Insurance Density and Penetration

2017 ◽  
Vol 16 (1) ◽  
pp. 1-20
Author(s):  
R Sivarama Prasad ◽  
R S NSharma
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Sector ◽  
Life Insurers ◽  
Life Insurance Industry ◽  
Insurance Density ◽  
The Government ◽  
Set Up ◽  
Indian Insurance

The Government of India nationalized insurance industry in 1956 on 19th Januaryleading to the amalgamation of154 Indian, 16 non-Indian Insurers and 75 provident societies, in total 245 Indian and foreign insurers, to form the Life Insurance Corporation of India. The Life Insurance Corporation of India, a public sector corporation, enjoyeda monopoly in the business for four decades until the entry of private life insurers with foreign joint ventures having 26% Foreign Direct Investment(FDI).As per one of the major recommendations of Sri R N Malhotra committee, on 19th April 2000, Insurance Regulatory and Development Authority was set up by the Government of India through the passing of an act of the Parliament. The IRDA aimed to promote insurance and protect the insured. Since its formation, the IRDA has been proving itself successful in promoting orderly growth and development in Indian Insurance sector. This study is an attempt to study life insurance density and penetration in Indian life Insurance industry toassess the growth in theexpansion of life insurance business in India. An analysisis made, and some conclusions are drawn with the help of growth percentages and trend calculations

Life Insurance: An International Comparison

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Manisha Choudhary Deepa
Keyword(s):  
International Comparison ◽  
Life Insurance ◽  
Developing Economies ◽  
The Other ◽  
Insurance Market ◽  
Developed Economies ◽  
High Penetration ◽  
Insurance Density ◽  
Insurance Penetration

Life insurance market is being increasingly recognised as an engine of economic growth. It fulfils the twin objectives of providing social security and long term funds for the economy. The present study is an attempt to study the life insurance performance of the selected economies according to the two accepted parameters, namely, life insurance penetration and life insurance density. This international comparison over the period 2001 to 2011 is successful in bringing out certain interesting results. The developed economies exhibit high penetration and density of life insurance but their growth is retarded. The developing economies, on the other hand, despite of lagging behind in absolute terms of both penetration and density have shown stupendous growth. This shows the hidden potential for the growth of life insurance in case of the developing economies where the developed economies have reached saturation.

scholarly journals The Impact of Demographic Burden on Insurance Density

SAGE Open ◽  
2020 ◽  
Vol 10 (4) ◽  
pp. 215824402098302
Author(s):  
Elena Nebolsina
Keyword(s):  
Old Age ◽  
Life Insurance ◽  
Insurance Market ◽  
Dependency Ratio ◽  
Age Dependency ◽  
Dependency Ratios ◽  
Insurance Density ◽  
Age Dependency Ratio ◽  
The Impact ◽  
Panel Vector Autoregression

The article investigates the relationship between demographic burden and insurance market by employing panel vector autoregression models with six groups of endogenous variables to a dynamic panel data set of 25 economies for the period 1980–2016. Demographic burden is represented by dependency ratios measured in respect to the population younger than the age of 15 (young-age dependency ratio), population above the age of 64 (old-age dependency ratio) as well as males and females above the age of 64 being examined separately. As indicators of insurance market development, life insurance density, non-life insurance density, and total insurance density are used. The robustness of the results is verified across 10 subsamples of the main observation period. The conducted analyses show a heterogeneous impact of demographic burden on the insurance market. The impulse responses reveal that negative effects prevail in the long term, which may result from the negative impact of an increasing demographic burden on the economy. In the short term, growth in female and male old-age dependency ratios drives up life and non-life insurance density.

scholarly journals Performance of the Polish Insurance Sector in the Second Decade of the 21st Century

2020 ◽  
Vol 15 (3) ◽  
pp. 251-264
Author(s):  
Ryszard Stempel
Keyword(s):  
Financial Performance ◽  
Life Insurance ◽  
Penetration Rate ◽  
Private Insurance ◽  
Insurance Market ◽  
Financial Supervision ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Insurance Density ◽  
Statistical Yearbook

The study analyzes the performance of the Polish insurance sector between 2010 and 2019. The analysis was based on source materials from the Statistical Yearbook published by Statistics Poland (GUS), reports of the Polish Financial Supervision Authority (KNF) and the Polish Chamber of Insurance (PIU). The main indicators describing the performance of the insurance market, including its concentration, number of policies, market structure, competitiveness, consumer behavior, and the financial performance of insurance companies were identified and analyzed. The strengths and weaknesses of the Polish private insurance market in the last ten years were determined. The main weakness was a considerable decrease in the sale of life insurance (branch I) policies, which was manifested by a steady decrease in gross premium, a continued decline in insurance density and penetration rate, deteriorating financial performance, and a decrease in the number of branch I insurance companies. Considerably better results were reported in the non-life insurance segment (branch II), where gross earned premium continued to improve and increased by around 64% over the analyzed decade. The non-life sector was also characterized by a steady improvement in density (increase of PLN 436), penetration rate (increase of 0.07%) and financial performance (net technical result increased by PLN 4.2 billion, net profit increased by PLN 1.5 billion).

scholarly journals Insurance market development: An empirical study of African countries

2015 ◽  
Vol 5 (4) ◽  
pp. 319-330
Author(s):  
Athenia Bongani Sibindi
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Life Insurance ◽  
Insurance Industry ◽  
Insurance Market ◽  
Market Development ◽  
Insurance Markets ◽  
African Countries ◽  
Life Insurance Industry ◽  
Insurance Density

The insurance industry plays a very crucial role in an economy by fostering intermediation and by its mechanism of risk bearing. As such it could be argued that the insurance industry fosters economic growth. In this article we analyse the global insurance market development trends, particularly focusing on Africa. Our sample comprise of the 10 African countries namely—South Africa, Angola, Nigeria, Kenya, Mauritius, Namibia, Algeria, Tunisia, Morocco and Egypt. We employ three insurance market development metrics namely; premium volumes, insurance density and insurance penetrations ratios to establish trends in the level of development of global insurance markets. Our results document that the African countries (excluding South Africa) have the least developed insurance markets. For most of the countries in our sample, the non-life insurance industry dominates the life-insurance industry. As such, it is imperative that their respective governments put in place measures that will grow their economies in order to stimulate the development of insurance markets in Africa.

scholarly journals A study on Growth and Development of Insurance in India- An Empirical Study

2016 ◽  
Vol 5 (9) ◽  
Author(s):  
Nagaraj . ◽  
Sandeep . ◽  
Issac . ◽  
M. V. Bharamagoudar
Keyword(s):  
Hong Kong ◽  
Life Insurance ◽  
Insurance Industry ◽  
Secondary Data ◽  
Asian Countries ◽  
Insurance Sector ◽  
Study Results ◽  
Insurance Density ◽  
Risk Situation ◽  
Negative Growth

The present paper aims to analyse the growth, density and penetration trends of Insurance both in India and Other Asian Countries. The study was conducted using secondary data available in various journals and magazines published by authorised institutes such as Insurance Institute of India (III), Insurance Regulatory and Development Authority of India (IRDA), Institute for Global Insurance Education (IGIE) and National Insurance Academy (NIA). The study results revealed that growth of insurance in Non-life was found to be significant (12.55 %) which was highest among south Asian countries, conversely in case of Life insurance India has registered negatively at second position (-4.65 %) next to Hong Kong which was highest with negative growth -9.0 %. In case of Total insurance the growth in total insurance was positive and significant (1.67 per cent) in the Japan country, which in case of other country was founded to negative (Hong Kong, Japan and Taiwan) and non-significant (India and South Korea) countries. Further, the study also focused to study the Insurance Density (Insurance Density is calculated as the ratio of premium to population) over a period of 13 years, results revealed that the density of insurance over a period time was found to be increasing from 11.5 USD to 55 USD. This figure is self explanatory which reveals the positive and increasing growth in insurance density in India. However, since from 2010 the density for Life was found to be decreasing with declining trend, whereas Non-Life insurance density was found to be positive and increasing trend. The study also assess the growth of Insurance industry in India, the results revealed that, giant player of insurance in India, LIC has also shown negative growth of -41.55 per cent in 2014-15 where compared to 2013-14 which was only -6.17 per cent. Hence the study suggests that policies should re-formulate / restructure to ensure better security among insurance industry and its stoker holders.This kind of change not only secures individuals during risk situation but also helps greater population to cover under appropriate risk policies and other risk mitigating measure for both Life and Non-Life Insurance policy holders. All these changes can boost the economy by increasing Foreign Direct Investment (FDI) channels so that insurance sector can contribute better to improve the countries income.

scholarly journals Life Insurance Sector Development and Economic Growth of India in the Changing Policy Regime

2019 ◽  
Vol 1 (1) ◽  
pp. p34
Author(s):  
P K Mishra ◽  
Javaid A. Mir
Keyword(s):  
Economic Growth ◽  
Life Insurance ◽  
Insurance Industry ◽  
Labour Productivity ◽  
Growth Strategy ◽  
Policy Regime ◽  
Indian Economy ◽  
Insurance Sector ◽  
Insurance Density ◽  
Almost All

The changing economic scenario of the Indian economy posed new challenges to almost all the sectors of the economy, and the insurance sector is no exception. The introduction of insurance sector reforms not only eliminated the monopoly of life insurance sector, but opened up the insurance windows to the private players which increased the competition in many folds, especially since 2000. The reforms brought an overall increase in insurance penetration as well as insurance density in the country. As a result, the insurance industry is today more efficient and exerts considerable positive impacts on the growth of the Indian economy. The insurance sector contributes to a rise in labour productivity through efficient investments, and also generates productive employment opportunities. In this context, this paper examines dynamics of the relationship between the development of life insurance sector and the real economic growth in the changing policy regime in India, and provides the evidence of the positive and significant relationship between them. Therefore, it is suggested to prioritize the focus on the further development of the sector may be through the implementation of prudent policies to increase rural penetration of life insurance in India. Also, the inclusive growth strategy in the country can be effectively mobilized to enhance the development of the life insurance sector.

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