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The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019

  • May 2016
  • -
  • Timetric
  • -
  • 134 pages

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Synopsis
Timetric’s 'The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Bosnian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bosnian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Bosnian insurance industry, including:

- The Bosnian insurance industry's growth prospects by segment and category

- A comprehensive overview of the Bosnian economy and demographics

- The detailed competitive landscape in the Bosnian insurance industry

- The various distribution channels in the Bosnian insurance industry

- Details of regulatory policy applicable to the Bosnian insurance industry

- Analysis of natural hazards in Bosnia and Herzegovina

Scope
This report provides a comprehensive analysis of the insurance industry in Bosnia and Herzegovina:

- It provides historical values for the Bosnian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Bosnian insurance industry, with market forecasts to 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It analyzes the various distribution channels in Bosnia and Herzegovina.

- It profiles the top insurance companies in Bosnia and Herzegovina and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bosnian insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Bosnian insurance industry.

- Assess the competitive dynamics in the Bosnian insurance industry.

- Identify growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Bosnian insurance industry and their impact on companies and the industry's future.

Key Highlights
- Despite economic challenges and poor living standards, the insurance industry posted a review-period CAGR of 4.5%.

- Rising public awareness of the benefits of insurance products and aggressive promotions by insurers supported the industry’s overall growth.

- Factors such as aggressive promotions by life insurers, rising consumer awareness of savings products, and compulsory life insurance for bank loans supported life insurance’s growth during the review period.

-Mandatory insurance classes dominate the industry; the motor category accounted for 80.1% of the non-life gross written premium in 2014.

- The impletion of bonus-malus by the authority is expected to enable policyholders with good claims histories to benefit from discounts on premium renewals.

- Insurance providers in Bosnia and Herzegovina demonstrated strong in-house underwriting expertise by ceding a limited proportion of revenues to reinsurance.

- The introduction of new insurance products, business transparency and measures to spread awareness of the benefits of insurance are expected to raise the penetration and premium per capita levels over the forecast period.

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