Egypt Oil & Gas Report Q1 2015

Jan 5, 2015 - Business Monitor International - 164 pages - USD $1,295
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As of late 2014, the most recent developments confirm our view that premiums will only grow very slowly in Croatia.

Many of the strengths that can be found in the insurance markets of other countries of Central and Eastern Europe are present in Croatia. Many of the leading companies are well capitalised subsidiaries of major subsidiaries. The regulator is effective. There is evidence of product innovation and multi-channel distribution.

Nevertheless, the latest developments confirm our views that conditions remain quite difficult in both of the major segments and that premium growth is likely to remain elusive for most of the insurance companies. In the larger non-life segment, the main challenge is the softness of the economy, which is consistent with minimal growth in volumes. The competitive landscape is crowded, and pressure on prices are downwards. Interestingly, it is easier to identify foreign groups that are looking to expand their presence in Croatia than to leave the market. Although we doubt that Basler/ La Baloise will be the last foreign group to reconsider its commitment to Croatia (and Serbia - having sold operations in both countries to Austria's Uniqa), the process of consolidation will likely be a (very) slow one. In this challenging environment, market leader CROATIA Osiguranje is undertaking a major restructuring that looks to boost revenues and to cut costs.

In the life segment, the main challenge is that life insurance and pensions face competition from other conduits for savings, such as bank savings accounts. Recent research by Erste Group has found that 15% of the adult population of Croatia has life insurance and 7% has private pensions: these figures have been falling over the last two years. Some companies have achieved good growth by increasing revenues from existing clients. Overall, though, there is no sign that the segment is increasing as result of winning of new users of insurance.

Recent developments
  • In June...


The Croatia Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Croatia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Croatian insurance industry.

Key Benefits
  • Benchmark BMI's independent insurance industry forecasts for Croatia to test other views - a key input for successful budgeting and strategic business planning in Croatia's insurance market.
  • Target business opportunities and risks in Croatia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
Coverage

BMI Industry View

Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

Regional Outlook

Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.

Business Environment Rankings

BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

BMI Industry Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

Premiums: Total (US$mn), growth (% y-o-y), penetration (% of GDP), density (US$ per capita) for Life and Non-Life sectors, and total premiums.

Life: Data on gross written premiums for all major non-life segments (e.g. motor, fire, work).

Non-life: Data on gross written premiums for all major life segments (e.g. life, retirement).

Economic: Nominal GDP (US$bn), real GDP growth (%), GDP per capita (US$), population (mn), unemployment (%), exchange rate (against US$).

Competitive Landscape & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (US$mn) and market share (%). This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.