beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical … contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the … insurance literature and summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and …

Objective: The objective of the article is to investigate how foreign capital influenced the development of insurance … which influence development of insurance markets are analysed, and econometric methods are applied. A panel model is … constructed and results of its estimation are analysed. Findings: Insurance markets in particular countries develop under the …