Economic Growth and Insurance Sector Development of Sri Lanka

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dc.contributor.authorPrabhashitha, H.P.W.
dc.contributor.authorDeshapriya, N.P. R.
dc.date.accessioned2021-02-10T04:41:40Z
dc.date.available2021-02-10T04:41:40Z
dc.date.issued2012
dc.description.abstractFinancial systems are an important element for the economic growth process, because they have a function which provides funds for wide spreading of new technologies and accumulation of capital funds.Insurance serves a number of valuable economic functions that are largely distinct from other types of financial intermediaries as it provides risk transfer and compensation by the efficient distribution of different risks. A well-developed insurance sector is necessary for the economic development of an emerging economy like Sri Lanka, as it provides long-term funds for physical and social infrastructure, while simultaneously strengthening risk-taking abilities.The increase of total assets by 22%, income by 40% and pre-tax profit by 262% shows the expansion of Sri Lankan insurance business in 2010 (Central Bank of Sri Lanka Annual Report -2010). This study examined the current industry conditions of insurance industry in Sri Lanka and was focused on assessing the relationship between economic growth and insurance sector development. Further, to focus on the causality directions between two identified variables also was a main objective of this particular study.en_US
dc.identifier.issn2235-9877
dc.identifier.urihttp://www.erepo.lib.uwu.ac.lk/bitstream/handle/123456789/5911/311-Economic%20Growth%20and%20Insurance%20Sector%20Development%20of%20Sri%20Lanka.pdf?sequence=1&isAllowed=y
dc.language.isoenen_US
dc.publisherUva Wellassa University of Sri Lankaen_US
dc.relation.ispartofseries;Research Symposium
dc.subjectEntrepreneurship and Manangmenten_US
dc.subjectManagmenten_US
dc.subjectAccountancyen_US
dc.titleEconomic Growth and Insurance Sector Development of Sri Lankaen_US
dc.title.alternativeResearch Symposium 2012en_US
dc.typeOtheren_US
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