The Study On The Impact Of The Insurance Industry To Regional Economic Growth

Since1980, China resumed the insurance business, the insurance business in China has been greatly developed, premium income in China in2012reached1.5488trillion yuan, an increase of8%year-on-year. China’s insurance repayments in2012reached471.6billion yuan, play the the social stability function truly. Due to the unbalanced development of China’s regional economic research,the research of the regional economic impact of insurance on economic growth from the perspective has a positive meaning.This paper introduces the financial functions of separate property insurance and personal insurance, as well as banking and insurance interaction of economic growth from the micro perspective. Select five first-tier cities of Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin and Changchun, Changsha, Chengdu, Fuzhou, Guiyang, Harbin, Hangzhou, Hefei,Hohhot, Jinan, Kunming, Lanzhou, Nanchang, Nanjing, Nanning, Shenyang, Shijiazhuang, Taiyuan,Urumqi,Wuhan, Zhengzhou, Chongqing as a representative of the second-tier cities to conduct a study to analyze the two different levels of economic development, the development of regional insurance impact on economic growth. This paper uses a panel data model,select the2005-2012eight data analysis, and studies have shown that the development of first-tier cities insurance role in promoting economic growth significantly in the second-tier cities; life insurance has significant role in promoting economic growth, but the property insurance has no significant role in promoting economic growth.life insurance and property insurance in conjunction with banks respectively have a significant role in promoting economic growth. Draw relevant policy recommendations on the basis of empirical research:the first-tier cities to promote the development of the insurance industry in second-tier cities; adjust the industrial structure, optimize the proportion of production life; implementation of the regional insurance differentiated development strategies and the strengthening of cooperation between the bank amateur Insurance.