Slovenia Insurance Report - Business Monitor International - Industry Reports

Slovenia Insurance Report

Slovenia Insurance Report - Business Monitor International - Industry Reports
Slovenia Insurance Report
Published Oct 15, 2016
52 pages — Published Oct 15, 2016
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Abstract:

The medium term prospects are overshadowed by a fairly challenging economic environment. Private household consumption growth slowed to -.- y-o-y in Q---, down from -.- in the previous quarter. ...Private household consumption growth slowed to -.- y-o-y in Q---, down from -.- in the previous quarter. Lending activity remains subdued as the banking sector continues to recover from the ---- crisis, while the unemployment rate is falling slowly, and consumer confidence dipped again in the first months of the year. Given these factors, we have lowered our estimate for GDP growth in ---- to -.- , down from a previous -.- . ...Nevertheless, density will remain relatively low and there is still potential for far stronger growth in life premiums than the -.- average growth in EUR terms in ------- and the -.- growth in USD terms. Table: Life Premiums (Slovenia ---------) ---- ---- ----e ----f ----f ----f ----f ----f Gross life premiums written, EURbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.-- Gross life premiums written, EUR, y-o-y --.- -.- -.- -.- -.- -.- -.- -.- Gross life premiums written, of GDP -.- -.- -.- -.- -.- -.- -.- -.- Gross life premiums written, of gross premiums written --.- --.- --.- --.- --.- --.- --.- --.- Gross life premiums written, USDbn -.-- -.-- -.-- -.-- -.-- -.-- -.-- -.--

...It is likely that a sufficient understanding of the life insurance product in general is largely not present amongst the consumer at large. ...The government, the insurers and the people themselves have an incentive to promote life insurance and other organised savings solutions in order to support individuals in their retirement. Insurance product innovations, aggressive promotion strategies and detailed product knowledge expansion ought to be able to sustain modest growth rates in the medium term by specifically targeting the population segment that is the primary audience for life insurance product offering. Also supporting growth is further improvement in the average household income levels in Slovenia. ...Also supporting growth is further improvement in the average household income levels in Slovenia. Most households already fall into the USD--,--- to USD--,--- bracket, and by the end of the forecast period we expect more households to fall into the next higher bracket (USD--,--- to USD--,---), indicating greater affordability and higher levels of disposable income for spending on various life products.

...This quarter, we have increased our forecast for the rate of growth in Slovenian life premiums. We are forecasting strong annual year-on-year (y-o-y) growth to take place in the Slovenian life insurance market in euro and in US dollar denominated terms from ---- to ----. Nevertheless, the crucial factor remains the overall size of the market and the limited development of the sector in terms of premiums up until now. In absolute terms, the overall size of the life market is estimated at around EUR---mn (USD---mn) in ----, rising to EUR---mn (USD---mn) by the end of our forecast period in ----. As a result, we forecast life insurance density rising from USD--- in ---- to USD--- by the end of ----. ...

  
Source:
Document ID
1752-8372
Country
Industry
Format:
PDF Adobe Acrobat
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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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MLA:
Business Monitor International - Industry Reports. "Slovenia Insurance Report" Oct 15, 2016. Alacra Store. Dec 11, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Slovenia-Insurance-Report-2026-247>
  
APA:
Business Monitor International - Industry Reports. (2016). Slovenia Insurance Report Oct 15, 2016. New York, NY: Alacra Store. Retrieved Dec 11, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Slovenia-Insurance-Report-2026-247>
  
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