Econometric Modelling of Life Insurance in Russia and Abroad

This work is devoted to a statistical study of life insurance in Russia, the identification of regional differences in the development of this field and the analysis of the market abroad. The first chapter deals with the basic concepts of life insurance as an insurance type, highlights the basic legal acts regulating the activities of insurers in the field of life insurance in Russia. The works of Russian and foreign researchers on this topic are analyzed. The review of the life insurance market in the whole world and in the Russian Federation is given and the forecast for its development for 2018 is being built. The second chapter is devoted to the analysis of factors that are supposedly affecting the formation of the life insurance market in the regions of Russia. Regions are divided into more homogeneous groups by methods of cluster analysis, the results of which are specified by discriminant analysis. The hypothesis of the presence of spatial effects in the interaction between regions is checked. The third chapter is devoted to the study of the factors involved in shaping the demand for life insurance in the countries of the world. To determine the differences in groups of countries with different levels of development, regression panel analysis is performed on two groups obtained by clustering. The hypothesis on the presence of spatial influences of countries on the insurance markets of each other through financial and economic indicators is checked. The study is able to comprehensively compare the development of life insurance in Russia with global trends, identify Russia's place in the world market, the most significant factors that affect the dynamics of this insurance industry and regional differentiation in the development of Russian regions.