Macroeconomic Determinants of Insurance Companies’ Financial Stability: The Case of the Czech Republic
Data publikacji: 15 maj 2023
Zakres stron: 218 - 230
DOI: https://doi.org/10.2478/sbe-2023-0012
Słowa kluczowe
© 2023 Iveta Palečková et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.
The study assesses the determinants of the financial stability of the Czech commercial insurance companies within the period 2004-2019. The eight macroeconomic determinants of the financial stability of insurance are analysed for both insurers, i.e., with predominated life and non-life insurance. The generalized method of moments is used for empirical analysis. The results show four macroeconomic variables were statistically significant determinants of financial stability in the case of non-life insurers and three determinants influenced the financial stability of life insurers. The study concludes that the determinants of the financial stability of non-life insurers were different that in the case of life insurers. Moreover, the impact of several determinants is also different in case life and non-life insurers in the Czech Republic.