Study of economic factors and situation of COVID-19 Pandemic that affect the insurance business in Thailand.
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Abstract
This study is quantitative research to study the economic variables such as the Consumer confidence index, SET index, interest rates, exchange rate between the baht and dollar, the volume of investment in foreign securities, volume of investment by institutional Investors, volume of registered cars, minimum labor cost and crude oil price, and factors of the Covid 19 virus crisis that affect the operating results of insurance businesses listed on the Stock Exchange of Thailand and The Office of Insurance Commission (OIC) which are studied from secondary data every quarter from the 1st quarter of 2020 until the 4th quarter of 2022.
The research found factors affecting the performance of insurance and life insurance businesses listed on the Stock Exchange of Thailand and the Office of the Insurance Commission. At the significance level of 0.01, there are 5 variables: the consumer confidence index, the SET index, the volume of investment in foreign securities, the volume of registered cars, crude oil price, and factors of the Covid 19 situation. In addition, from examining the appropriateness of the multiple regression analysis, it was found that There is a test statistic value of 1155.979 with a statistical significance of 0.01. The adjustment coefficient (Adjust R2) is equal to 0.8690. Built-in correlation. (Autocorrelation) equals 2.0125.
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References
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