IDEAS home Printed from https://ideas.repec.org/a/nos/social/y2017i6p3-7.html
   My bibliography  Save this article

The Development Of European Insurance Market Infrastructure

Author

Listed:
  • Sholoiko, Antonina

    (Taras Shevchenko National University of Kyiv)

Abstract

The aim is to consider the development of different elements of European insurance market infrastructure. The next tasks of the study were done: to generalize main indicators of the development of European insurance market from 2012 to 2016; to characterize elements of European insurance market infrastructure and define their collaboration with elements of the world insurance market infrastructure. Methodology. Such methods were used to do an abovementioned tasks: information collection about elements of European insurance market infrastructure; analysis of tendencies of the main indicators of the development of European insurance market from 2012 to 2016; generalization to characterize the elements of European insurance market infrastructure, define their collaboration with the elements of the world insurance market infrastructure and make conclusions. Results. Main indicators of the de-velopment of European insurance market were increasing from 2012 to 2014 and decreasing from 2015 to 2016. Total premium volume as a share in GDP of Europe (insurance penetration) did not exceed 7% from 2012 to 2016 and as a share in the world GDP declined from 2.1% in 2014 to 1.95% in 2016. It was connected with results of the United Kingdom referendum on the European Union membership. The development of European insurance market is also under the influence of activity of elements of insurance market infrastructure such as Actuarial Association of Europe (AAE), Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), European Financial Management Association (EFMA), European Insurance and Occupational Pensions Authority (EIOPA), European Federation of Insurance Intermediaries (BIPAR), European insurance and reinsurance federation (Insurance Europe), Geneva Association, Insurance Institute of London (IIL). Value. This research indicates that the development of European insurance market infrastructure is caused by different factors: financial crises, legislation gap, improving the quality of information and others. Various of elements of European insurance market infrastructure were established to overcome such challenges and provide participants of insurance market with a necessary information, consultations, educational services and re-sults of research, also through collaboration with elements of the world insurance market infrastructure. Results of this investigation can become a ground for fur-ther research in the field of defining an impact of activity of infrastructure elements on the development of an insurance market.

Suggested Citation

  • Sholoiko, Antonina, 2017. "The Development Of European Insurance Market Infrastructure," EUREKA: Social and Humanities, Scientific Route OÜ, issue 6, pages 3-7.
    • Handle: RePEc:nos:social:y:2017:i:6:p:3-7
    as

    Download full text from publisher

    File URL: http://eu-jr.eu/social/article/viewFile/491/484.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. René Doff, 2016. "The Final Solvency II Framework: Will It Be Effective?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(4), pages 587-607, October.
    2. Dev Vencappa & Paul Fenn & Stephen Diacon, 2013. "Productivity Growth in the European Insurance Industry: Evidence from Life and Non-Life Companies," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 20(2), pages 281-305, July.
    3. Pierre-Charles Pradier & Arnaud Chneiweiss, 2016. "The evolution of insurance regulation in the EU since 2005," Post-Print halshs-01390899, HAL.
    4. Raphaël Douady & Clément Goulet & Pierre-Charles Pradier (ed.), 2017. "Financial Regulation in the EU," Springer Books, Springer, number 978-3-319-44287-7, July.
    5. D. Rasshyvalov, 2017. "Brexit Fallout For British And World Insurance Market: Operational And Institutional Aspects," Вестник Киевского национального университета имени Тараса Шевченко. Экономика., Socionet;Киевский национальный университет имени Тараса Шевченко, vol. 5(194), pages 29-34.
    6. Rudra P. Pradhan & Saurav Dash & Rana Pratap Maradana & Manju Jayakumar & Kunal Gaurav, 2017. "Insurance market density and economic growth in Eurozone countries: the granger causality approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 3(1), pages 1-24, December.
    7. Florin Teodor Boldeanu & Ileana Tache, 2016. "The Financial System of the EU and the Capital Markets Union," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 59-70.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bisola Beatrice Oguejiofor & Ngozi Samuel Uzougbo & Abosede Olusade Kolade & Ahmed Raji & Chibuike Daraojimba, 2023. "Review of Successful Global Public-Private Partnerships: Extracting key Strategies for Effective U.S. Financial Collaborations," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(8), pages 312-331, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zulfi Diane Zaini, 2018. "Functions of the Bank of Indonesia as Lender ofLast Resort for Banks\' Safety," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 607-621.
    2. I.N. Efremenko & L. Haabazoka & V.A. Larionov, 2017. "Development of the International Monetary System Conditions of Globalization," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 269-279.
    3. Kolos Csaba 'Agoston & Veronika Varga, 2024. "Bertrand oligopoly in insurance markets with Value at Risk Constraints," Papers 2404.17915, arXiv.org.
    4. Kwaku Ohene-Asare & Jones Kofi Anyimadu Asare & Charles Turkson, 2019. "Dynamic cost productivity and economies of scale of Ghanaian insurers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 44(1), pages 148-177, January.
    5. Ramona Rupeika-Apoga & Irina Solovjova, 2017. "Access to Finance for Latvian SMEs," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 57-68.
    6. Garnov & A. & Zvyagin & L. & Sviridova & O., 2019. "System Data Analysis: Innovative Technologies, Methods and Techniques," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 26-39.
    7. Emmanuel Mamatzakis & Christos Staikouras & Christos Triantopoulos & Zhi Cheng Wang, 2024. "Measuring the efficiency and productivity of U.K. insurance market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 1097-1114, January.
    8. Dzeina Steinberga & Inta Millere, 2017. "Solvency Evaluation, Comparing Traditional Financial Situation Assessment Methods with Information from Cash Flow Statements, Using Data from Insolvent Companies in the Republic of Latvia," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 246-258.
    9. Elena Nebolsina, 2020. "The Impact of Demographic Burden on Insurance Density," SAGE Open, , vol. 10(4), pages 21582440209, December.
    10. Faris Nasif Al Shubiri & Syed Ahsan Jamil, 2017. "Assessing the Determinants of Interest Rate Spread of Commercial Banks in Oman: An Empirical Investigation," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 90-108.
    11. Meier, Samira & Rodriguez Gonzalez, Miguel & Kunze, Frederik, 2021. "The global financial crisis, the EMU sovereign debt crisis and international financial regulation: lessons from a systematic literature review," International Review of Law and Economics, Elsevier, vol. 65(C).
    12. Noemi Pena-Miguel & Javier Corral-Lage & J. Inaki De La Pena Esteban & University of the Basque Country (UPV/EHU), 2017. "A First Approach to a Public Financial Information System for Social Benefits," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 109-127.
    13. Winston Pontoh, 2017. "The Capital Structure: Is Debt just a Policy or Requerement?," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 128-139.
    14. John Levesque & Cédric Dalmasso & Sophie Hooge, 2022. "Understanding the Impacts of Digital Transformation in the Service Industry: the Mutation of the Back-Office Function in the Insurance Sector," Post-Print hal-04068150, HAL.
    15. E.V. Kruglikova & T.K. Blokhina & O.A. Karpenko, 2018. "Current Problems of Banking Supervision and Regulation: A New Evidence," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 40-54.
    16. repec:ers:journl:v:vi:y:2018:i:3:p:98-114 is not listed on IDEAS
    17. Biener, Christian & Eling, Martin & Wirfs, Jan Hendrik, 2016. "The determinants of efficiency and productivity in the Swiss insurance industry," European Journal of Operational Research, Elsevier, vol. 248(2), pages 703-714.
    18. Raymond Kofi Adjei & Veronika Kajurová, 2021. "What Affects Income in Sub-Saharan Africa?," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 7(2), pages 223-237.
    19. George C. Bitros, 2018. "Germany and Greece: A Mapping of their Great Divide, its EU Implications," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 14-42.
    20. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:40-54 is not listed on IDEAS
    21. Xanthippi Chapsa & Nikolaos Tabakis & Athanasios L. Athanasenas, 2018. "Investigating the Catching-Up Hypothesis Using Panel Unit Root Tests: Evidence from the PIIGS," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 250-271.
    22. N.G. Vovchenko & M.G. Holina & A.S. Orobinskiy & R.A. Sichev, 2017. "Ensuring Financial Stability of Companies on the Basis of International Experience in Construction of Risks Maps, Internal Control and Audit," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 350-368.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nos:social:y:2017:i:6:p:3-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Helen Klimashevska (email available below). General contact details of provider: http://eu-jr.eu/social .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.