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Demand for Corporate Insurance in China

Author

Listed:
  • Minglai Zhu
  • Chao Kui
  • Yuzheng Fang

Abstract

Corporate insurance was the dominant sector of the property insurance market in China before 1989. However, in recent years the growth rate of corporate insurance premiums has steadily slowed and the share of this business line in total property insurance has decreased dramatically. Factors having an impact on the demand for corporate insurance are explored, using provincial-level panel data to extend the empirical analyses in previous studies on this topic. The regression results show that the loan ratio, the corporation tax ratio, and the proportion of foreign-owned companies are significantly related to demand for corporate insurance and are consistent with the predictions of theoretical economic models. The effects of gross domestic product (GDP) and industrial structure cannot be ignored. The findings provide valuable insights for both insurers and regulators in China.

Suggested Citation

  • Minglai Zhu & Chao Kui & Yuzheng Fang, 2011. "Demand for Corporate Insurance in China," Chinese Economy, Taylor & Francis Journals, vol. 44(6), pages 15-29, November.
    • Handle: RePEc:mes:chinec:v:44:y:2011:i:6:p:15-29
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    Cited by:

    1. Martin Eling & Ruo Jia & Yi Yao, 2017. "Between-Group Adverse Selection: Evidence From Group Critical Illness Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(2), pages 771-809, June.
    2. Douglas Bujakowski, 2021. "China's nonlife insurance market: New insights from the China Insurance Yearbook," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(1), pages 127-135, March.
    3. Park, Min, 2018. "What drives corporate insurance demand? Evidence from directors' and officers' liability insurance in Korea," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 235-257.
    4. Trinh, Cong Tam & Nguyen, Xuan & Sgro, Pasquale & Pham, Cong S., 2020. "Culture, financial crisis and the demand for property, accident and health insurance in the OECD countries," Economic Modelling, Elsevier, vol. 93(C), pages 480-498.

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