Country factor behavior for integration improvement of European life insurance markets

This paper provides evidence of the role that financial market development and institutional quality play in integration European Union (EU) life insurance markets. It analyzes ten EU markets over a seventeen-year sample period. The meta-technology cost/revenue efficiency ratios, estimated under meta-frontier DEA framework, are used as measure analysis is conducted by applying Tobit panel regression models. We find national stock enhance cost performance Results also show countries where bancassurance main distribution channel, banking sector contributes to terms revenue efficiency. However, we better outcomes decrease ratio, suggesting prices lower with institutions.