ARTYKUŁ
Integration of insurance markets – case of the countries of Central and Eastern Europe that are members of the European Union
 
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Wydział Ekonomii i Finansów, Uniwersytet Technologiczno-Humanistyczny im. Kazimierza Pułaskiego w Radomiu, Polska
 
 
Submission date: 2023-08-13
 
 
Acceptance date: 2023-11-02
 
 
Publication date: 2023-12-27
 
 
Corresponding author
Marzanna Barbara Lament   

Wydział Ekonomii i Finansów, Uniwersytet Technologiczno-Humanistyczny im. Kazimierza Pułaskiego w Radomiu, Malczewskiego 29, 26-600, Radom, Polska
 
 
Ekonomista 2023;(4):387-402
 
KEYWORDS
JEL CLASSIFICATION CODES
F36
G22
 
ABSTRACT
EU directives have freed insurance companies from regulating prices and conditions. However, institutional and cultural features still differ significantly between countries. Issues related to the integration of insurance markets should be considered an important area of research for two reasons. Firstly, because of the importance that the integration of international financial markets has for their development and because of the impact of integration on economic growth. Secondly, the insurance market is fairly specific on account of the complexity of insurance contracts. This makes insurance integration difficult to assess, and for this reason, it is a poorly recognized research topic. This article examines the extent to which the insurance markets of CEE are integrated. The measures of insurance market integration have been determined with regard to gross written premium and investment. The empirical analysis is based on statistical and econometric methods and justifies the conclusion that the extent to which the insurance markets of the countries under investigation are integrated indicates a tendency for this process to continue. However, they are less integrated the rest of the EU countries and the eurozone.
eISSN:2299-6184
ISSN:0013-3205
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