“…Insurance sector development is an important determinant of economic growth. There is plenty of research on the relationship between financial sector development and economic growth (Ductor & Grechyna, 2015;Gokmenoglu, Amin, & Taspinar, 2015;Hsueh, Hu, & Tu, 2013;Komal & Abbas, 2015;Menyah, Nazlioglu, & Wolde-Rufael, 2014;Pradhan, Arvin, Hall, & Bahmani, 2014;Samargandi, Fidrmuc, & Ghosh, 2015;Seven & Yetkiner, 2016;Simion, Stanciu, & Arm aşelu, 2015;Uddin, Sjo, & Shahbaz, 2013;Zhang, Wang, & Wang, 2012;Zhuang et al, 2012). In this respect, the insurance sector has not received exceptional attention.…”