2013-03-06 20:26:44 - Fast Market Research recommends "The Insurance Industry in Croatia, Key Trends and Opportunities to 2017" from Timetric, now available

The Croatian economy grew at a healthy rate, averaging 4-5% annually during 2001-2008. This facilitated the growth of insurance services in the country. However, the global financial and European debt crisis affected the Croatian insurance industry which registered negative growth during 2009-2011. The Croatian insurance industry is dominated by the non-life insurance segment. Privatization measures by the government to facilitate investments, increasing product development and use of new technology will be the main drivers for the insurance industry in the country over the forecast period. In order to tap into the growing investor attention as a result of Croatia's accession to the European Union in July 2013, the government embarked on a drive to attract foreign funds into energy and

infrastructure projects. Among the assets the Croatian government is looking to offload is insurance company, Croatia osiguranje (CO), the biggest insurance company in the country.


Full Report Details at
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Key Highlights

* Penetration rates in the Croatian insurance industry is low when compared to other Eastern and Central European countries
* The Croatian insurance industry is relatively concentrated
* At the end of 2011, 26 insurance companies operated in the Croatian insurance industry, including six life insurance companies, 10 non-life insurance companies and 10 composite insurers (operating in both life and non-life segments)
* Following accession to the EU, the country has to abide by Solvency II norms which are scheduled to be effective from January 2014
* The smaller companies will find it difficult to meet the new requirements given the lack of scale to absorb the extra costs and high competition among companies

Scope

This report provides a comprehensive analysis of the insurance industry in Croatia:

* It provides historical values for the Croatian insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key segments and categories in the Croatian insurance industry, along with industry forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
* It profiles the top insurance companies in Croatia and outlines the key regulations affecting them

Reasons to Purchase

* Make strategic business decisions using in depth historic and forecast industry data related to the Croatian insurance industry and each segment within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the Croatian insurance industry
* Assess the competitive dynamics in the Croatian insurance industry
* Identify the growth opportunities and market dynamics within key segments
* Gain insights into key regulations governing the Croatian insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: CROATIA osiguranje d.d., Allianz Zagreb d.d., Euroherc osiguranje d.d., Jadransko osiguranje d.d., Kvarner Vienna Insurance Group d.d

Partial Table of Contents:

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 The Croatian Insurance Industry Overview
3.1 Croatian Insurance Industry Size, 2008-2017
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Legislation, Supervision and Control
4.1 Legislation Overview and Historical Evolution
4.2 Legislation Trends by Type of Insurance
4.2.1 Life insurance regulatory trends
4.2.2 Property insurance regulatory trends
4.2.3 Motor insurance regulatory trends
4.2.4 Marine, aviation and transit insurance regulatory trends
4.2.5 Health insurance regulatory trends
4.3 Compulsory Insurance
4.3.1 Compulsory insurance within the transport sector
4.3.2 Compulsory health insurance
4.3.3 Compulsory unemployment insurance
4.4 Supervision and Control
4.4.1 International regulatory authority
4.4.2 Croatian Financial Services Supervisory Agency (CFSSA)
5 Non-Admitted Insurance Regulatory Trends
5.1 Overview
5.2 Intermediaries
5.3 Market Practices
5.4 Fines and Penalties
6 Company Registration and Operations
6.1 Types of Insurance Organisation
6.2 Establishing a local company
6.3 Foreign Ownership
6.4 Types of License
6.5 Capital Requirements
6.6 Solvency Margins
6.7 Reserve Requirements
6.8 Investment Regulations
6.9 Statutory Return Requirements
6.1 Policy Terms and Conditions
7 Taxation
7.1 Insurance Premium or Policy Taxation
7.2 Corporate Tax
7.3 VAT
7.4 Captives
8 Legal System
8.1 Introduction
8.2 Access to Court
8.3 Alternative Dispute Resolution (ADR)
9 Life Insurance
9.1 Growth Prospects
9.2 Life Insurance Growth Prospects by Customer Segments
9.2.1 Individual single-premium policies
9.2.2 Individual non-single-premium policies
10 Non-Life Insurance
10.1 Growth Prospects
10.1.1 Property insurance category
10.1.2 Engineering insurance sub-category
10.1.3 Agriculture insurance sub-category
10.1.4 Other property sub-category
10.2 Motor Insurance Category
10.2.1 Motor hull sub-category
10.2.2 Motor third-party sub-category
10.3 General Third-Party Category
10.4 Marine, Aviation and Transit Category
11 Personal Accident and Health Insurance
11.1 Growth Prospects
11.1.1 Personal accident category

Full Table of Contents is available at:
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About Timetric

Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037

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