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The Development of Life Insurance in the Czech Republic and the Slovak Republic

Author

Listed:
  • Lucie Ivanecká

    (Silesian University in Opava)

  • Lenka Pøeèková

    (Silesian University in Opava)

Abstract

This article investigates the influence of selected determinants on the development of life insurance in the Czech Republic and the Slovak Republic in the years 2007–2019. The aim of the present study is to examine whether there are relationships between the development of selected determinants and the development of life insurance in the Czech Republic and Slovak Republic. We are using the correlation analysis, specifically Spearman‘s correlation coefficient, performed in the Eviews program with quarterly data. The determinants can be divided into positive and negative. Positive determinants encourage consumers to take out an insurance contract, thus acting to increase interest in insurance. Negative determinants have the opposite effect, which means that the consumer‘s willingness to take out insurance decreases, and the consumer is not interested in insurance on the development of life insurance in selected countries in the period under review. A positive impact on the development of life insurance was found in the case of gross domestic product, average gross monthly wage, interest rate on deposits and population in selected countries in the period under review.

Suggested Citation

  • Lucie Ivanecká & Lenka Pøeèková, 2022. "The Development of Life Insurance in the Czech Republic and the Slovak Republic," ACTA VSFS, University of Finance and Administration, vol. 16(2), pages 159-172.
    • Handle: RePEc:prf:journl:v:16:y:2022:i:2:p:159-172
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    File URL: https://www.vsfs.cz/periodika/acta-2022-2-04.pdf
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    More about this item

    Keywords

    insurance; life insurance; life insurance development; determinants of life insurance; ratio of life and nonlife insurance;
    All these keywords.

    JEL classification:

    • F6 - International Economics - - Economic Impacts of Globalization
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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