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Foreign Participation in Life Insurance Markets: Evidence from OECD Countries

Author

Listed:
  • Dezhu Ye

    ([1] aDepartment of Finance, Jinan University, Guangzhou 510632, China[2] cResearch Institute of Finance, Jinan University, Guangzhou 510632, China)

  • Donghui Li

    (School of Banking and Finance, University of New South Wales, Sydney, NSW 2052, Australia)

  • Zhian Chen

    (Department of Finance, Jinan University, Guangzhou 510632, China)

  • Fariborz Moshirian

    (Department of Finance, Jinan University, Guangzhou 510632, China)

  • Timothy Wee

    (Equity Capital Markets, Citigroup Global Markets Asia Ltd, Hong Kong SAR)

Abstract

This paper examines the determinants of foreign participation in life insurance markets across 24 OECD countries during the period 1993–2000. The empirical results show that socio-economic and market structure factors influence foreign participation in life insurance markets. More specifically, life expectancy, foreign market share, income, dependency ratio, financial development, level of competition, economic growth and market liberalisation have positive impacts, whereas expense/combined ratios and social security expenditure have negative impacts on foreign participation in life insurance markets. In addition, governance/legal indicators (common law, political stability, government effectiveness, regulatory quality, the rule of law and control of corruption) all show positive impacts on foreign participation in life insurance markets. The Geneva Papers (2009) 34, 466–482. doi:10.1057/gpp.2009.9

Suggested Citation

  • Dezhu Ye & Donghui Li & Zhian Chen & Fariborz Moshirian & Timothy Wee, 2009. "Foreign Participation in Life Insurance Markets: Evidence from OECD Countries," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(3), pages 466-482, July.
    • Handle: RePEc:pal:gpprii:v:34:y:2009:i:3:p:466-482
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    Cited by:

    1. Ngasuko, Tri Achya, 2017. "Foreign Ownership of Insurance Companies: Indonesian Case 2012-2015," MPRA Paper 99152, University Library of Munich, Germany, revised 01 Apr 2017.
    2. J. François Outreville, 2011. "The relationship between insurance growth and economic development - 80 empirical papers for a review of the literature," ICER Working Papers 12-2011, ICER - International Centre for Economic Research.
    3. Markéta Arltová & Tomáš Kábrt, 2018. "Hlavní determinanty ovlivňující poptávku po životním pojištění v České republice [Analysis of Determinants, Influencing Life Insurance Demand in the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(3), pages 344-365.
    4. J. François Outreville, 2013. "The Relationship Between Insurance and Economic Development: 85 Empirical Papers for a Review of the Literature," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(1), pages 71-122, March.

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