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Volume :1 Issue : 2 1994      Add To Cart                                                                    Download

A Suggested Quantitative Statistical Model to Determinants of Social and Economical Development and its Effects on Insurance Markets in Developed and Developing Countries

Auther : Mohammed Abdul Mawla Othman

The main objective of this study is to investigate the relationship between insurance premiums written in both the developing and developed countries, and their social and economical development determinants. A proposed Quantitative Statistical Model, using the Multiple Regression (MR), was applied in both life insurance and general insurance in 59 countries (21 developed countries, 38 developing countries). This study using MR identified three determinants of social and economical development (i.e. average income per capital percentage of higher education and degree of financial development). Three significant determinants were found to affect the demand for life insurance and general insurance. Finally, several recommendations are introduced for developing and reviving the demand for insurance, especially in developing countries.

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