A Study On The Influence Factors And Regional Difference Of Property Insurance In China

Since the recovery of insurance business in 1979,the market scale of China's property insurance has been expanding,with economic benefit significantly improved.Property insurance is becoming more and more important in the national economy.However,the property insurance industry starts late and continues the extensive mode of development,the unbalanced development of regional market has led to a slowdown in the market growth of property insurance in recent years.It is important to coordinate the regional development of the property insurance industry and promote the development of the national economy.Based on the analysis of data from China's eastern,middle and western regions,this paper finds the market of property insurance in the eastern region is developed,and the central and western regions is relatively backward.With the development of property insurance industry in midland and west,its growth over the eastern region,and the relative gap between the three regions gradully reduced.On the basis of discussing the difference of regional development in China's property insurance industry,combining with the existing literatures and theories,the paper puts forward the factors that affect the regional development of China's property insurance industry from three perspectives,including economic factors,environmental factors and demographic factors,and gives a theoretical hypothesis.This paper selects the data of the three regions from 2005 to 2016 to build panel regression model and analysis the influence of per capita GDP,per capita disposable income,fixed assets investment,economic openness,the level of education and urbanization on regional property insurance.The results show that the six factors have positive effect on premium income,the per capita disposable income and per capita GDP are the main factors affecting the development of the regional insurance industry;economic openness has great influence on the development of industry in eastern region.However,due to the geographical position and other factors,the economic openness has less influence on property insurance in middle and western regions,while fixed asset investment plays a more important role.The influence of education is samll in all three regions.Finally,combining with the present situation and empirical results of regional property insurance industry,this paper put forward policy recommendations: promote the development of economic and the transformation of industrial structure;improve the residents' disposable income and stimulate the effective demand of property insurance;maximum advantage of the eastern and promote the industry opening;accelerate the integration of middle and western resources;cultivate the citizens' awareness of insurance;establish and improve the supervision mechanism,and promote the healthy development of the insurance market.