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Croatia Insurance Report Q3 2016

  • May 2016
  • -
  • Business Monitor International
  • -
  • 64 pages

Includes 3 FREE quarterly updates

BMI View: The outlook is currently mixed for Croatia's developing insurance market. On the one hand, thelife insurance market, although small, is expected to record steady growth in premiums as wider economicgrowth stimulates increases in household income rates, improving affordability and demand for a range oftraditional life covers and retirement/saving products. On the other hand the prospects for non-lifeinsurance are dampened by competitive pressures in the key motor insurance segment which is offsettingmore positive growth in smaller lines. Overall, while we do expect to see some growth, the small size of themarket and limited wider economic outlook in Croatia means that we do not expect to see any majorinvestment in the country's insurance market over the medium term.

Key Updates And Forecasts

- Croatia's health insurance sector is set to be overhauled as the state attempts to address healthcare sectordebts of around HRK2.5bn (USD380mn). Expected changes include the introduction of supplementaryhealth insurance premiums and changes to access to emergency healthcare. As well as increasing privatehealth expenditure, the changes could also stimulate greater demand in the underdeveloped private healthinsurance market.

- The weak outlook for the motor insurance sector continues to dampen our forecasts for Croatia's non-lifeinsurance market where we expect to see an overall fall in premiums written over the course of theforecast period, despite steady growth in some of the smaller lines such as personal accident insurance.


- More positive growth is expected in the smaller life insurance market, where improvements to householdincome rates will supported increased expenditure on life products meaning premiums are forecast togrow by over 4% annually (in local currency terms) between 2016 and 2020.

Table Of Contents

Croatia Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Croatia 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Croatia 2013-2020) 11
Table: Life Insurance Claims (Croatia 2008-2015) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Croatia 2013-2020) 16
Table: Non-Life Insurance Claims (Croatia 2009-2015) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Croatia 2013-2020) 28
Insurance Risk/Reward Index 29
Emerging Europe Risk/Reward Index 29
Table: Emerging Europe Insurance Risk/Reward Index - Q316 30
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Life Insurance Market (USDmn), 2008-2015 33
Non-Life Market Overview 34
The Product Offering 34
The Competitive Landscape 35
Table: Non-Life Insurance Market (USDmn) 2008-2015 37
Company Profile 38
Allianz 38
CROATIA Osiguranje 41
ERGO 44
Generali 47
UNIQA Group 51
Vienna Insurance Group (VIG) 54
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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ref:plp2016

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