Abstract

This study explores the asymmetric and nonlinear effects of economic policy uncertainty (EPU), climate policy uncertainty (CPU), and geopolitical risk (GPR) on China's life insurance premiums (LIP) by using Quantile Autoregressive Distributed Lag (QARDL) approach across different quantiles of LIP. The results show that EPU negatively affects LIP in most cases except the lowest quantiles, GPR has a negative influence among the higher quantiles, and the negative effects of CPU on LIP are significant mainly in higher quantiles. The findings suggest that investors and firms treat life insurance products as secure assets when policy instability and geopolitical issues become serious.

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