Insurance and Economic Growth in Tunisia : A Theoretical and Empirical Analysis

Abstract

The purpose of this paper is to investigate the impact of insurance in economic growth, with empirical analysis for Tunisia. The analysis used data for the period between 1998- 2013 .The methodology of our research employs statistical methods concerning the analysis between the GDP and insurance indicators. Insurance indicators are measured by insurance penetration (the share of gross premium written to GDP) and insurance density (the average value of the insurance premium paid by an inhabitant for one year). We used three different insurance variables life, non-life insurance and the total insurance penetration and density.According to our results, insurance sector positively and significantly influences economic growth. The results are confirmed in terms of non-life insurance, life insurance and total insurance.

Keywords: Tunisian insurance market, Economic growth, Insurance.