{"title":"Factors Influencing Non-Life Insurance Demand: Case of Lithuania","authors":"Karolina Malakauskienė, Ausrine Lakstutiene, Justyna Witkowska","doi":"10.15544/mts.2022.25","DOIUrl":null,"url":null,"abstract":"Abstract This paper studies factors affecting non-life insurance demand in Lithuania. The study identified variables that are important in analyzing the demand for non-life insurance and were applied in estimating multivariate VAR, Classical Granger, and Toda-Yamamoto causalities. Lithuania’s case showed three significant causal relationships: positive - between non-life insurance demand and inflation and loss probability, negative - between density and short-term interest rate. Loss probability and short-term interest rate have been shown to be significant across all models. Inflation was deemed to be the effect of shift in demand rather than the cause.","PeriodicalId":0,"journal":{"name":"","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15544/mts.2022.25","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
Abstract This paper studies factors affecting non-life insurance demand in Lithuania. The study identified variables that are important in analyzing the demand for non-life insurance and were applied in estimating multivariate VAR, Classical Granger, and Toda-Yamamoto causalities. Lithuania’s case showed three significant causal relationships: positive - between non-life insurance demand and inflation and loss probability, negative - between density and short-term interest rate. Loss probability and short-term interest rate have been shown to be significant across all models. Inflation was deemed to be the effect of shift in demand rather than the cause.
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