Croatia Insurance Report - Business Monitor International - Industry Reports

Croatia Insurance Report

Croatia Insurance Report - Business Monitor International - Industry Reports
Croatia Insurance Report
Published Aug 20, 2016
68 pages — Published Aug 20, 2016
Price US$ 1,295.00  |  Buy this Report Now

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� Business Monitor International Ltd Page -- forecast that life premiums will generally grow by --- annually over the forecast period, in local currency terms. In ----, total life premiums are forecast to amount to USD---mn, up from USD---mn in ----. ...Instead, insurers will find the market remains hampered by the large proportion of households, around -- , which fall below the poverty line, excluding a large share of the population from participating in life insurance. On a positive note, average household incomes are forecast to rise over the forecast period, partly because of Croatia s recent accession into the EU, which will encourage trade with other member nations and improve shared knowledge and skills, creating new employment opportunities. As a result, we estimate the percentage of total households falling into the middle-income bracket of USD--,----plus is set to rise to around -- . We also expect an increase in the number of households earning above USD-,---, with the total percentage to rise to around -- . As the number of households in these income brackets increases, the affordability of life products will improve.

...Croatia s life insurance sector is the weaker of the two insurance markets that we monitor in the country and, despite a relatively steady level of premiums growth over the forecast period, we see little to challenge this view in the short term. At present, life insurance premiums represent about --.- of total underwriting activity in Croatia. ...Life premiums are expected to grow slightly faster than non-life premiums towards ----, resulting in total life underwriting to occupy --.- of Croatia s total insurance market by ----. Although slower, growth in the life sector will be driven by the expansion of the retirement-age population which, as in other countries, is an important market for life insurance and other savings and investment products. The expansion of the -- + age-group reflects steady rises in life expectancy and should provide opportunities for life insurers, including multinationals, to introduce new retirement products. However, the industry faces a number of long-term challenges. Low income levels and a lack of disposable household income will continue to limit growth and will remain an obstacle for potential investors and new entrants.

...Many of the leading players in Croatia s life segment are using advantages such as financial strength, regional scale, brand, innovation/product know-how and multi-channel distribution. Overall, however, the structural challenges facing the segment mean that premium growth will be slow in the short term. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Croatia Insurance Report" Aug 20, 2016. Alacra Store. Jun 19, 2018. <>
Business Monitor International - Industry Reports. (2016). Croatia Insurance Report Aug 20, 2016. New York, NY: Alacra Store. Retrieved Jun 19, 2018 from <>
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