Determinants of Insurance Companies’ Profitability in Montenegro

Descriptions of columns: f1 – Return on assets (ROA) (%) f2 – Insurer age f3 – Logarithm of insurer age f4 – Gross premium (€) f5 – Logarithm of gross premium f6 – Liquidity ratio f7 – Debt ratio f8 – Solvency margin (thousands of €) f9 – Logarith of solvency margin f10 – GDP (thousands of €) f11 – Logarithm of GDP f12 – Inflation rate (%) f13 – Loans interest rate (%) Data of ROA, insurer age, gross premium, liquidity and debt ratio are taken from the annual financial reports of insurance companies in Montenegro including the reports of the external auditor published by the Insurance Supervision Agency (http://www.ano.me/en/) Data of GDP and inflation rate are taken from the reports of Statistical Office of Montenegro MONSTAT (https://www.monstat.org/eng/index.php) Loans interest rate data are taken from the official macroeconomic (annual) reports of Central bank of Montenegro (https://www.cbcg.me/en)