Examining the relationship between non-life insurance premiums and economic growth in Namibia

Abstract: The impact of insurance market activity on financial development is gaining academic attention as the insurance sector grows in emerging markets. This research aims to examine the relationship between non-life insurance premiums and economic growth in the Namibian context by providing recommendations to drive increased penetration across the Namibian economy. The study scrutinizes the explanatory factors of non-life insurance demand in Namibia, using quarterly data from Q1:2010 to Q4:2020 and also the Ordinary Least Square Method. The variables employed were; Gross domestic product, gross written premiums, reinsurance exemption, and inflation. The study revealed that there was a positive relationship between non-life insurance premiums and economic growth in Namibia. The study also revealed a positive relationship between reinsurance exemption and economic growth in Namibia. Lastly, a negative relationship was observed between inflation and economic growth in Namibia. The results of this study provide opportunities for further research in this area given the limited empirical literature that currently exists. Keywords: insurance market activity, financial development, insurance sector grows, non-life insurance premiums. Title: Examining the relationship between non-life insurance premiums and economic growth in Namibia Author: Severus Absalom International Journal of Recent Research in Commerce Economics and Management (IJRRCEM) ISSN 2349-7807 Vol. 9, Issue 3, July 2022 - September 2022 Page No: 73-81 Paper Publications Website: www.paperpublications.org Published Date: 29-August-2022 DOI: https://doi.org/10.5281/zenodo.7032116 Paper Download Link (Source) https://www.paperpublications.org/upload/book/Examining%20the%20relationship%20between-29082022-4International Journal of Recent Research in Commerce Economics and Management (IJRRCEM), ISSN 2349-7807, Paper Publications, Website: www.paperpublications.or