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Determinants of Life Insurance Demand in the MENA Region

Author

Listed:
  • Mouna Zerriaa

    (Finance, IHEC Carthage, Présidence, Tunis 2016, Tunisia.)

  • Hedi Noubbigh

    (Accounting Department, IHEC Carthage, 4 rue des Vergers, Khaznadar, Tunis 2017, Tunisia.)

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.

Suggested Citation

  • Mouna Zerriaa & Hedi Noubbigh, 2016. "Determinants of Life Insurance Demand in the MENA Region," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(3), pages 491-511, July.
    • Handle: RePEc:pal:gpprii:v:41:y:2016:i:3:p:491-511
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    Citations

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    Cited by:

    1. Milijana Novovic Buric & Ljiljana Kascelan & Vladimir Kascelan, 2023. "Economic and demographic determinants of premium reserve in Western Balkan countries during and after the crisis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 1116-1136, January.
    2. Odunayo Olarewaju & Thabiso Msomi, 2021. "Determinants of Insurance Penetration in West African Countries: A Panel Auto Regressive Distributed Lag Approach," JRFM, MDPI, vol. 14(8), pages 1-15, July.
    3. Simona Laura Dragoş & Codruţa Mare & Cristian Mihai Dragoş, 2019. "Institutional drivers of life insurance consumption: a dynamic panel approach for European countries," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(1), pages 36-66, January.
    4. Gabriela Mihaela Mure?an & Cristian Mihai Dragos & Codru?a Mare & Simona Laura Dragos & Alexandra Pintea, 2021. "Socio-Economic and Macro-Financial Determinants and Spatial Effects on European Private Health Insurance Markets," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 23(56), pages 290-290, February.
    5. Ali Shaddady, 2022. "Business environment, political risk, governance, Shariah compliance and efficiency in insurance companies in the MENA region," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 861-904, October.
    6. Perseta Grabova & Gentiana Sharku, 2021. "Drivers Of Life Insurance Consumption - An Empirical Analysis Of Western Balkan Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 66(231), pages 33-58, October –.

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