TABLE 1
FROM:
The Chinese Insurance Market: Estimating its Long-Term Growth and Size
Wei Zheng, Yongdong Liu and Gerry Dickinson
BACK TO ARTICLETable 1. Estimates of world life and non-life insurance growth model
| Life insurance | Non-life insurance | |
|---|---|---|
| C 1 | 24.37*** (16.59) | 35.45*** (47.53) |
| C 2 | 111.03*** (12.83) | 62.72*** (19.93) |
| C 3 | 0.8671*** (68.14) | 0.8276*** (51.46) |
| R 2 | 0.5362 | 0.8115 |
| Adjusted-R 2 | 0.5356 | 0.8112 |
| Number of observations | 2,052 | 2,071 |
| GDP per capita at the inflexion (1990 US$) | 10,635 | 3,015 |
| Maximum income elasticity of premium | 1.754 | 1.425 |
| GDP per capita at the maximum elasticity (1990 US$) | 12,438 | 7,531 |
Note: Robust t-statistics is in parentheses. The term of "***" means that the level of significance is 1 percent.
