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How Does COVID-19 Affect China’s Insurance Market?

Author

Listed:
  • Yating Wang
  • Donghao Zhang
  • Xiaoquan Wang
  • Qiuyao Fu

Abstract

The insurance market has been greatly impacted by the outbreak of the COVID-19 pandemic. We employ monthly provincial panel data and fixed-effects models to study how COVID-19 has impacted China’s insurance market. The study finds that the commercial insurance premium income, the monthly year-on-year growth rate of premium, insurance density, and insurance depth have all decreased due to COVID-19. The negative impacts on property and personal insurances are both statistically significant. Raising the level of social security and digital insurance can alleviate the adverse impact of the pandemic on the insurance market.

Suggested Citation

  • Yating Wang & Donghao Zhang & Xiaoquan Wang & Qiuyao Fu, 2020. "How Does COVID-19 Affect China’s Insurance Market?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2350-2362, August.
    • Handle: RePEc:mes:emfitr:v:56:y:2020:i:10:p:2350-2362
    DOI: 10.1080/1540496X.2020.1791074
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    Cited by:

    1. Wang, Zhixuan & Dong, Yanli & Liu, Ailan, 2022. "How does China's stock market react to supply chain disruptions from COVID-19?," International Review of Financial Analysis, Elsevier, vol. 82(C).
    2. Shabir, Mohsin & Jiang, Ping & Wang, Wenhao & Işık, Özcan, 2023. "COVID-19 pandemic impact on banking sector: A cross-country analysis," Journal of Multinational Financial Management, Elsevier, vol. 67(C).
    3. Sui, Bo & Chang, Chun-Ping & Jang, Chyi-Lu & Gong, Qiang, 2021. "Analyzing causality between epidemics and oil prices: Role of the stock market," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 148-158.
    4. Trinh, Cong Tam & Chao, Chi-Chur & Ho, Nhut Quang, 2023. "Private health insurance consumption and public health-care provision in OECD countries: Impact of culture, finance, and the pandemic," The North American Journal of Economics and Finance, Elsevier, vol. 64(C).
    5. Narayan, Paresh Kumar & Devpura, Neluka & Wang, Hua, 2020. "Japanese currency and stock market—What happened during the COVID-19 pandemic?," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 191-198.
    6. Narayan, Paresh Kumar, 2021. "COVID-19 research outcomes: An agenda for future research," Economic Analysis and Policy, Elsevier, vol. 71(C), pages 439-445.
    7. Guillermo Sierra Juárez, 2023. "Prima para la cobertura por exceso de contagios de COVID-19," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 18(2), pages 1-17, Abril - J.
    8. Deng, Tianjie & Xu, Tracy & Lee, Young Jin, 2022. "Policy responses to COVID-19 and stock market reactions - An international evidence," Journal of Economics and Business, Elsevier, vol. 119(C).
    9. Devpura, Neluka & Narayan, Paresh Kumar & Sharma, Susan Sunila, 2021. "Bond return predictability: Evidence from 25 OECD countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    10. Iyke, Bernard Njindan & Ho, Sin-Yu, 2021. "Exchange rate exposure in the South African stock market before and during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 43(C).
    11. Wang, Jiangyuan & Wang, Hua & Wang, Di, 2021. "Equity concentration and investment efficiency of energy companies in China: Evidence based on the shock of deregulation of QFIIs," Energy Economics, Elsevier, vol. 93(C).
    12. Gong, Min & He, Wei & Zhang, Nan, 2021. "Political promotion incentives and local employment," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 492-502.
    13. Iyke, Bernard Njindan & Tran, Vuong Thao & Narayan, Paresh Kumar, 2021. "Can energy security predict energy stock returns?," Energy Economics, Elsevier, vol. 94(C).

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