Paper Title
A Study of Life Insurance Consumption in Emerging Economies

Abstract
Life insurance consumption has grown rapidly in the Emerging countries in the past two decades. Using a panel data set from 2001-2020, we examine the drivers of life insurance industry in ten of the largest emerging economies. Though government reforms and policies remain important drivers for the development of the insurance industry, we find evidence that the usual variables like per capita GDP, population, age dependency ratios, life expectancy, stock market size to be robust predictors of life insurance development over the time period. The development of distribution channels through the internet,and mobile connectivity has a significant positive impact, and so does urbanization. The quality of institutional governance as measured by the Rule of Law seems to be an important predictor of the insurance industry growth. JEL Classification - G22, G23, G29 Keywords - Emerging, Life Insurance, Non-Life Insurance.