Croatia Insurance Report Q3 2012 - New Market Report
2012-05-24 04:54:22 - New Financial Services market report from Business Monitor International: "Croatia Insurance Report Q3 2012"
Key Insights And Key Risks
The Croatia Insurance Report considers the prospects for both life and non-life insurers in that country. The latest statistics from HANFA, the financial regulator, indicate that non-life premiums continued to contract in Q112, and were about 2% lower than they had been in the previous corresponding period. Life insurance is growing at about the same rate.
As we have noted in previous reports, the lack of interest in unit-linked products over the last 18 months or so points to an element of caution on the part of Croatia's investors and savers. Economic conditions are, and are expected to remain, challenging.
Nevertheless, there are a number of obvious strengths. One reason for the slippage in premiums is that companies are focusing on profitability ahead of growth for its own sake - as was highlighted by the preliminary result of market leader CROATIA Osiguranje, which was published in early February 2012. For a small country that is not yet a full member of the European Union (EU), a surprisingly large number of multi-national companies are present. Some of these are comparatively small Austrian groups such as Grawe and Merkur. However, Allianz, Vienna Insurance Group (VIG - through no fewer than three different subsidiaries), Generali, ERGO and UNIQA are present - as are less frequently encountered names such as Triglav and Baloise. Put another way, Croatian households and businesses are being offered risk management and savings solutions by a variety of companies that can exploit opportunities of scale across European - or even global - businesses.
Full Report Details at
CROATIA Osiguranje, in which the government's stake is now only 51%, is not such a company. It remains BMI's view that another substantial shift in the shareholding of CROATIA Osiguranje could prove to be the catalyst for a major - and beneficial - consolidation of what is a fairly fragmented insurance sector.
Over the last quarter, BMI has made the following changes:
* The regulator's statistics for Q112 have been incorporated into the analysis.
* There is a detailed discussion of the 2011 results of CROATIA Osiguranje.
* The analysis takes into account BMI's latest projections for Croatia's economy, with a focus on key aspects such as trends in the healthcare sector.
Report Table of Contents:
- Table: Total Premiums, 2008-2016
- Key Insights And Key Risks
- Croatia Insurance Industry SWOT
- Croatia Political SWOT
- Croatia Economic SWOT
- Croatia Business Environment SWOT
- Central And Eastern Europe Life Sector Overview
- Table: Europe Life Premiums, 2009-2016
- Croatia Life Sector Update
- Table: Gross Written Life Premiums, January-May 2011 (HRKmn)
- Life Insurance Industry Forecast Scenario
- Table: Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Table: Insurance Key Drivers - Demographics, 2008-2016
- Central And Eastern Europe Non-Life Sector Overview
- Table: Europe Non-Life Premiums, 2009-2016
- Croatia's Non-Life Sector Update
- Table: Gross Written Non-Life Premiums, January-May 2011 (HRKmn)
- Non-Life Insurance Industry Forecast Scenario
- Table: Non-Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Croatia Economic Activity, 2011-2016
- Political Stability Outlook
- Table: Europe Security Risk Ratings
- Table: Insurance Key Drivers - Disability-Adjusted Life Years, 2009-2016
- Table: Insurance Key Drivers - Vehicle Sales, 2009-2016
Insurance Risk/Reward Ratings
- Table: Croatia's Insurance Risk/Reward Ratings
- Table: Europe Risk/Reward Ratings
- Major Players In Croatia's Insurance Sector
- Table: Ranking Of Non-Life Companies By Gross Written Premiums, January-May 2011 (HRK'000)
- Table: Ranking Of Life Companies By Gross Written Premiums, January-May 2011 (HRK'000)
- Local Company Profiles
- Agram zivotno osiguranje
- Basler osiguranje dd Zagreb
- CROATIA Osiguranje
- Regional Company Profiles
- BNP Paribas Cardif
- KBC Group
- MetLife ALICO
- Prudential Financial
- Vienna Insurance Group
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators
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