IMPACT OF MACROECONOMIC FACTORS ON THE LIFE INSURANCE MARKET IN THE VISEGRAD COUNTRIES

Abstrakt

Life insurances represent an important safety measure against financial results of various mishaps. They also supplement the public insurance system. Bearing in mind that the insurance market depends on the supply of risks by the policyholders, demand on these risks and readiness to accept them on the insurers’ side as well as funds at the disposal of both parties, the economic standing of a given country plays an important role. The macroeconomic situation of the Visegrad countries (V4) has been shaped in the last decade by events on the global financial markets and processes taking place in the European Union. The resulting changes concern both the general state of the economy and its particular sectors, including the life insurance sector. The study has been carried out on the basis of selected macroeconomic data and data reflecting the development of the life insurance sector in the years 2007–2015. Apart from the comparative analysis, a linear correlation technique, which describes the force and direction of relations between the properties, has been used. The studies have confirmed the assumed research hypotheses. Strong relationships between the level of property insurance sector development and the macroeconomic situation in the Visegrad countries have been found, along with mutual similarities and the high level of financial stability.