Croatia Insurance Report Q3 2009
Business Monitor International, June 2009, Pages: 102
Croatia Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulartory bodies with independent forecasts and competitive intelligence on Croatia's insurance industry
This report was written in late May 2009. Relative to the Q209 report, the main changes pertain to the profiles of companies – both regional and predominantly local – which have been updated considerably. We have also included a brief overview of conditions – and development of premium income – through Q109. This is based on comments made by major (mainly listed) companies which became available (for the most part) from mid-May. We hope to build on this section in terms of detail.
As we explain, Q109 was in many ways a challenging but far from disastrous quarter for the major protagonists in most markets. Notwithstanding the fact that particular non-life markets suffered as a result of a slump in the number of cars registered, and correspondingly lower demand for compulsory third party motor (CTPM) insurance and voluntary motor insurance, global non-life premiums generally held up well in spite of the global economic downturn. In contrast, life premiums were, in most markets, lower in Q109 than they had been in Q108. This was largely the result of the past volatility in global equity markets, although there were also other problems. Conditions remain fair in the global reinsurance market.
In terms of the major regions whose insurance markets are covered by our reports, Latin America and the Middle East and North Africa stood out in terms of growth in premiums (in non-life insurance in particular, but also in life insurance). Conditions were far more mixed in Central and Eastern Europe (CEE) (particularly in non-life insurance, where the downturn in car registrations hit hard) and Asia Pacific (where various factors caused slippage in life premiums in many markets).
Revision of Data And Forecasts
We have updated the insurance data for 2008 – and our forecasts for the next five years. In many cases, preliminary or final figures for last year have been published by the regulator or the trade association. In some cases, we have estimated figures for 2008, but on the basis of information that has been published in relation to a significant portion of the year. In some cases though, we have based our 2008 estimate on results disclosed by individual companies operating in the market in question.
Executive Summary
The Sector At A Glance
Table: Croatia’s Insurance Sector At A Glance
Key Insights On Croatia’s Insurance Sector
SWOT Analysis
Croatia Insurance Industry SWOT
Croatia Political SWOT
Croatia Economic SWOT
Croatia Business Environment SWOT
Global Overview
Global Review Of Q109
Comment – The Global Financial Crisis
Table: Selected European Countries: Budget And Current Account, 2008 (as % of GDP)
Projections And Forecasts
Table: Insurance Premiums, 2006-2013
Projections And Drivers Of Growth
Table: Growth Drivers, 2006-2013
Country Update
Macroeconomic Activity
Table: Croatia – Economic Activity, 2006 – 2013
Political Outlook
Insurance Business Environment Rating
Table: Croatia – Insurance Business Environment Indicators
Table: Central And Eastern Europe Insurance Business Environment Rankings
Regional Context
Table: Non-Life Premiums In A Regional Context, 2008
Table: Life Premiums In A Regional Context, 2008
Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006
The Major Players In Croatia’s Insurance Market
Analysis Of Competitive Conditions
Regional Overview
Local Company Profiles
EUROHERC
Osiguranje Zagreb
AGRAM zivotno osiguranje
Regional Company Profiles
AEGON
AIG
Allianz
Aviva
AXA
Cardif
Ergo
Erste Group
Eureko
Fortis
Generali
Grawe
Groupama
HDI-Gerling
HSBC Insurance
ING
KBC Group
MetLife
Prudential Financial
QBE
RSA
UNIQA
Vienna Insurance Group
Zurich
Country Snapshot: Croatia Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2000-2003
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 1999-2004
Table: Consumer Expenditure, 2000-2010 (US$)
Table: Average Annual Wages, 2000-2010
Methodology
Basis of Projections
Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators
-AEGON
-AIG
-Allianz
-Aviva
-AXA
-Cardif
-Ergo
-Erste Group
-Eureko
-Fortis
-Generali
-Grawe
-Groupama
-HDI-Gerling
-HSBC Insurance
-ING
-KBC Group
-MetLife
-Prudential Financial
-QBE
-RSA
-UNIQA
-Vienna Insurance Group
-Zurich
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