Study on the Insurance Density Determinants in Romania

Abstract

The objective of this study is to establish the extent to which several specific social and financial macroeconomic variables influence the density of the insurance market in Romania. By using multiple regression and ANOVA instruments within a period of 21 years (1997-2017), the results show a strong correlation between the average net salary, the unemployment rate, the enrolment ratio in education and the birth rate, on the one hand, and, on the other hand, the density of the whole insurance market (life and non-life components). Results also reveal that the inflation rate does not seem to have a major impact on the analysed indicator.