scholarly journals Impact of Covid-19 on the dynamics of MTPL insurance premiums and claims paid in Latvia

2021 ◽  
Vol 9 ◽  
pp. 33-42
Author(s):  
Aivars Spilbergs ◽  
Andris Fomins ◽  
Maris Krastins
Keyword(s):  
Life Insurance ◽  
Policy Development ◽  
Third Party ◽  
Insurance Companies ◽  
Macroeconomic Factors ◽  
Insurance Premiums ◽  
Work From Home ◽  
Traffic Volumes ◽  
Containment Measures ◽  
The Impact

COVID-19 has devastated societies and economies around the world, leaving no sector untouched. The unprecedented crisis caused by Covid-19 led to unexpected changes in public behaviour: the restrictions imposed, especially during the pandemic outbreaks in March-April and November-December 2020, left a significant impact on traffic volumes. By the spring of 2020, more than half of the world’s population had been isolated with tough containment measures. Opportunities to work from home reduced the need to use private cars and, consequently, the demand for motor third party liability (MTPL) insurance. In order to understand the significance of the impact of the pandemic on MTPL insurance premiums and claims, the authors studied the impact of macroeconomic factors on the insurance market in Latvia in the period from 2005-2020. Using regression analysis methods, the evidence was obtained that changes in the macroeconomic situation significantly affect one of the main non-life insurance segments MTPL insurance. A set of indicators, that most significantly affect revenues and expenses in this business segment of insurance companies, was determined. The findings provide useful recommendations for insurance companies to reduce business risks and promote sustainable development. The results of the study are important for insurance-related econometric analysis, investment decisions, forecasting, and policy development.

The Impact of Social Security Tax Contributions on Group Life Insurance Premiums

1987 ◽  
Vol 54 (4) ◽  
pp. 712 ◽  
Author(s):  
George E. Rejda ◽  
James R. Schmidt ◽  
Michael J. McNamara
Keyword(s):  
Social Security ◽  
Life Insurance ◽  
Insurance Premiums ◽  
Social Security Tax ◽  
Group Life ◽  
The Impact

scholarly journals Impact of premium reserve on life insurance investments in the Western Balkans

2021 ◽  
Vol 16 (2) ◽  
pp. 355-376
Author(s):  
Jelena Tomašević ◽  
Milijana Novović-Burić ◽  
Ljiljana Kašćelan ◽  
Vladimir Kašćelan
Keyword(s):  
Financial Market ◽  
Life Insurance ◽  
Insurance Companies ◽  
Strong Positive Correlation ◽  
Western Balkans ◽  
Insurance Sector ◽  
Correlation And Regression Analysis ◽  
Country Level ◽  
Financial Investments ◽  
The Impact

The growing importance of life insurance in the world imposes a greater need for research in this area, particularly in the Western Balkans where the trend of growth has been closely accompanied by life insurance for the past two decades. Taking into consideration that life insurance companies are significant participants in the financial market, this research paper examines the impact of the premium reserve on the volume of financial investments of life insurance companies in Western Balkan countries, based on aggregate data on country level. In order to test its effect, linear correlation and regression models were used, based on data collected for the period 2006-2016. Additionally, comparative analysis was used to compare the position of life insurance companies in financial markets. The results obtained by applying correlation and regression analysis showed that there is a strong positive correlation between premium reserve and financial investments in all of the aforementioned countries in the region. This result is an important strategic guideline for the regulators and policymakers to make advancements in the life insurance sector as well as in the financial market of the Western Balkans.

OSIGURANjE ŽIVOTA U KORIST TREĆIH LICA

2021 ◽  
pp. 535-551
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Legal Status ◽  
Insurance Contract ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Law ◽  
Legal Provisions ◽  
Insured Person ◽  
Insured Event

Insurance of life in favor of third parties is more important than the insurance of life in case of death. Moreover, in some rights this type of insurance can be contracted only in the event of the death of the insured person. There are no such restrictions in our insurance law, which means that the same can be agreed in case the isured person reaches a certain age. With this type of insurance, the insured event can be realized on the person of the insurance policyholders or on some other person. The insured person can therefore be the insurance contractor himself and it can also be another person. Considering that in this type of insurance, upon the occurrence of the insured event, the payment of the insured amount is always made to a certain third party beneficiary and that the insurance contract mentions several persons with different legal status, the insurance contract must clearly define the issues such as clear determination of the beneficiary insurance, what happens if the insurance beneficiary dies before the insured person, or the contractor assures, whether it is necessary for the insurance beneficiary to give his consent to be paid compensation, whether and until when the insurance policyholder can revoke the benefit he has contracted for a third party-beneficiary of the insured, etc. All these issues are mainly regulated by legal provisions, but of particular importance are General Conditions of life insurance of life insurance companies, as the above issues are clearly defined on the basis of experiences that have proven to be open in practice.

scholarly journals ANALYSIS OF COMPETITIVE POSITIONS OF INSURANCE COMPANIES IN THE NON-LIFE INSURANCE MARKET IN UKRAINE

2019 ◽  
pp. 88-94
Author(s):  
O. Pakhnenko ◽  
O. Zhuravka ◽  
V. Podhorna ◽  
A. Sukhomlyn
Keyword(s):  
Market Share ◽  
Life Insurance ◽  
Motor Vehicle ◽  
Market Concentration ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Insurance Premiums ◽  
Property Insurance ◽  
Financial Condition

The paper explores the practical aspects of forming a competitive environment in the non-life insurance market of Ukraine and analyzes the competitiveness and financial performance of leading insurance companies. Based on the analysis of non-life insurance market concentration indicators, the authors concluded that there is no clear leader in this market, the level of market concentration is negligible. Based on the analysis of non-life insurance market leaders by volume of gross insurance premiums in the whole market and by main types of non-life insurance (CASCO, motor vehicle liability insurance, property insurance, fire and catastrophe risk insurance, CARGO, health insurance) the authors found that the leadership of insurance companies in the market does not mean their leadership in all types of non-life insurance; some insurance companies specialize in certain types of insurance and not being leaders in the insurance market at all occupy leading positions in certain segments of non-life insurance market. In order to provide a general assessment of the competitiveness of individual insurance companies in the non-life insurance market, the following indicators were selected: the volume of gross insurance premiums, gross insurance payments, insurance reserves and the amount of equity. In order to assess the size of market share of an individual insurance company in a more objective way, it is suggested to calculate the average share of the insurance company. The calculations made it possible to identify the leaders of the non-life insurance market in 2018 and to explore the dynamics of changes in their competitive position during 2016-2018. For the three insurance companies that have been identified as the leaders of the Ukrainian market non-life insurance in 2018 (“UNIKA”, “AXA Insurance” and “PZU Ukraine”), the authors analyzed the main indicators of their financial condition, namely the profitability of insurance services, profitability of sales, return on assets, return on equity, overall liquidity, absolute liquidity and autonomy. It was found that all the analyzed insurance companies are profitable, however, among the three leading Ukrainian insurance companies, the most effective in 2018 was the insurance company “PZU Ukraine” and the least profitable – “UNIKA”. Keywords: competitiveness, insurance company, market concentration, market share, competition.

scholarly journals IMPACT OF CAPITAL STRUCTURE ON THE PERFORMANCE OF QUOTED INSURANCE FIRMS IN NIGERIA

2021 ◽  
Vol 9 (07) ◽  
pp. 324-334
Author(s):  
Oluwaleye, Taiwo Olarinre ◽  
◽  
Kolapo, Funso Tajudeen (PhD) ◽  
Ajayi, Foluso Isaac ◽  
◽  
...  
Keyword(s):  
Firm Performance ◽  
Capital Structure ◽  
Granger Causality ◽  
Life Insurance ◽  
Panel Cointegration ◽  
Insurance Companies ◽  
Causality Test ◽  
Long Run ◽  
Short Run ◽  
The Impact

Evidence from the past studies revealed that capital structure has an impact on the firm performance. This research appraises the impact of capital structure on the performance of quoted life insurance companies in Nigeria from 2010 to 2019. The researchers used the panel cointegration model, autoregressive dynamic lag error correction model and pair wise granger causality test to measure the relationship among the variables. The study revealed that capital structure and firm performance has a long-run relationshipand 81% long run disequilibrium is corrected within a year. It was also apparent that there is a significant short run relationship between liquidity of life insurance and return on asset. The Granger causality outcome also shows that bidirectional causality exists between firm size (SIZE) and profitability (ROA) in the short run. We conclude that a large size of life insurance firm has more scope to make more profit in Nigeria context within the study period. The study recommended that to maximize firm’s performance managers must endeavor to obtain and maintain an optimum capital structure level among others.

E-commerce and portfolio allocations: A study on the Indian life insurance customers

2020 ◽  
Vol 1 (1) ◽  
pp. 36-46 ◽  
Author(s):  
Rajeev Kumar Ranjan ◽  
Shoaib Alam Siddiqui ◽  
Nitin Thapar ◽  
Shyam Singh Chauhan
Keyword(s):  
Life Insurance ◽  
Insurance Industry ◽  
Personal Selling ◽  
Minimum Cost ◽  
Online Marketing ◽  
Insurance Companies ◽  
Purchase Behavior ◽  
Outcome Variable ◽  
Insurance Sector ◽  
The Impact

The paper attempts to find the impact of technology on the purchase behavior of consumers for insurance products. With the use of technology and e-commerce the adoption of insurance products had undergone a transformation. With the entry of private players the insurance sector has become very competitive (Jampala & Rao, 2005). With increased competition the life insurance industry is adopting innovative marketing practices to tap a larger market; the companies therefore are developing their capabilities of access-based penetration, distribution and sale to customers. The advances in technology have changed the way insurance products were marketed in India. Apart from the traditional agency channel, the companies are also exploring alternative channels like brokers, rural channels, online marketing, and e-commerce, etc. The personal selling based channels are the new innovative methods offering an effective reach at a minimum cost. To analyze the consumer purchase behavior the study used two-way ANOVA to determine the effect of two nominal predictor variables on a continuous outcome variable. The results of the study will assist the life insurance companies in improving their operations and efficiency.

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