General Tendencies of Interaction between Banks and Insurance Companies

Student: Gulabyan Alexander

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2017

In this paper I tried to determine the factors influencing the market of bancassurance and its dynamics in Russia and their effects on this sphere of finance by regressing D(log(LIPt),2) (where LIPt is a reasonable proxy for the volume of collected bancassurance premiums) on D(log(Yt)), D(It), D(Wt), D(R1t) using the quarterly data on all these variables. The results adjusted to possible presence of heteroscedasticity or autocorrelation that I obtained using EViews software suggest that there is a significant positive relation between (It – It-1) and (LIPt-1/ LIPt-2) and significant negative correlation between (LIPt-1/ LIPt-2) and such factors as (Yt/Yt-1), (Wt - Wt-1) and (R1t – R1t-1), though the constant term appeared to be insignificant. Since all the variables in my model are likely to be stationary according to results of corresponding tests my finding could be trusted and are likely to be fair. Though the effect on (LIPt-1/ LIPt-2) of some macroeconomic factors (such as population income, real GDP) is rather small (about hundredths of a percents) it is reasonable to argue that the bancassurance sector needs to be paid more attention in financial sector analysis and macroeconomic policy.

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