Comparative Analysis of Insurance Pemiums in Serbia and Bosnia and Herzegovina - Multiple Linear Regression Analysis Model
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Abstract
In the last few years, the global insurance market has shown a trend of concentration growth, which was conditioned by the processes of mergers and acquisitions in insurance. The aim of this paper is to make a comparative analysis of insurance premiums in Serbia and Bosnia and Herzegovina. Dynamic analysis of market concentration indicators calculated on the basis of absolute amounts of premiums indicates that the insurance market in Bosnia and Herzegovina is characterized by low concentrated supply, i.e. there is greater equality of market share in relation to high inequality and high concentration among market participants in the insurance sector of the Republic of Serbia. Having applied the multi-linear regression model in order to analyze the impact of selected macroeconomic indicators on the amount of insurance premiums in the period 2000-2017, it can be concluded that the greatest impact on the amount of the premium in Bosnia and Herzegovina had Gross Domestic Income and Wage and Salaries Workers. In the Republic of Serbia, the greatest influence on the amount of premium in the observed period had the Average Net Salary, Households and Final Consumption Expenditure and Gross Domestic Income.
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