Non-Life Insurance in Croatia, Key Trends and Opportunities to 2020

Published: Sep, 2017 | Pages: 157 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Non-Life Insurance in Croatia, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Croatian non-life insurance segment, and a comparison of the Croatian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Croatian economy and demographics, explains the various types of natural hazard and their impact on the Croatian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Non-Life Insurance in Croatia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Croatian non-life insurance segment, including:

• The Croatian non-life insurance segment's detailed outlook by product category

• A comprehensive overview of the Croatian economy and demographics

• A comparison of the Croatian insurance industry with its regional counterparts

• The various distribution channels in the Croatian non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Croatian insurance industry

• Details of the competitive landscape in the non-life insurance segment in Croatia

• Details of regulatory policy applicable to the Croatian insurance industry

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Croatia:

• It provides historical values for the Croatian non-life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key categories in the Croatian non-life insurance segment, and market forecasts to 2020.

• It profiles the top non-life insurance companies in Croatia, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Croatian non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Croatian non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Croatian insurance industry, and their impact on companies and the industry's future.

Key Highlights

• In June 2017, Croatia Osiguranje d.d. received approval from Hrvatska Agencija Za Nadzor Financijskih Usluga (HANFA) to merge with Croatia Zdravstveno d.d., the private health insurance unit of Croatia Osiguranje.

• On January 1, 2016, Solvency II was implemented in Croatia.

• Croatia permits 100% FDI in its insurance industry.

• Motor third-party liability insurance is compulsory in the Croatian insurance industry.

 Table of Contents

1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 OUTLOOK BY CATEGORY
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Policies sold
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Policies sold
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Policies sold
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Policies sold
5.4.3 Claims
5.4.4 Profitability
6 DISTRIBUTION CHANNEL OUTLOOK
6.1 Analysis by Distribution Channel
6.1.1 Direct marketing
6.1.2 Agencies
6.1.3 Insurance brokers
6.1.4 Bancassurance
7 NATURAL AND MAN-MADE HAZARDS
7.1 Flooding
7.2 Extreme Temperature
7.3 Droughts
7.4 Earthquakes
7.5 Storms
7.6 Air and Coastline Pollution
7.7 Wildfires
7.8 Exposure
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Croatia Osiguranje d.d. - company overview
8.1.2 Euroherc osiguranje d.d. - company overview
8.1.3 Allianz Zagreb d.d. - company overview
8.1.4 Jadransko Osiguranje d.d. - company overview
8.1.5 Uniqa osiguranje d.d. - company overview
9 GOVERNANCE, RISK AND COMPLIANCE
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Personal accident insurance for passengers on public transport
9.4.2 Motor third-party liability insurance
9.4.3 Third-party liability insurance for boats and yachts
9.4.4 Health insurance
9.4.5 Unemployment insurance
9.4.6 Air carriers and aircraft operators insurance
9.4.7 Professional indemnity insurance for alternative investment fund managers
9.4.8 Professional indemnity insurance for insurance brokers and agencies
9.4.9 Clinical trials liability insurance
9.4.10 Liability insurance for oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 European Insurance and Occupational Pensions Authority
9.5.3 Croatian Financial Services Supervisory Agency
9.5.4 Federation of European Risk Management Associations
9.6 Non-Admitted Insurance Regulation
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 DATABOOK
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 DEFINITIONS AND METHODOLOGY
11.1 Definitions
11.2 Methodology
12 ABOUT TIMETRIC
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables

Table 1: Croatian Non-Life Insurance - Key Facts, 2015
Table 2: Croatian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Croatian Government Credit Ratings
Table 4: Croatian Non-Life Insurance - Gross Written Premium (HRK Billion and US$ Billion), 2011-2015
Table 5: Croatian Non-Life Insurance - Gross Written Premium (HRK Billion and US$ Billion), 2015-2020
Table 6: Croatian Non-Life Insurance - Penetration (%), 2011-2015
Table 7: Croatian Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Croatian Non-Life Insurance - Premium per Capita (HRK and US$), 2011-2015
Table 9: Croatian Non-Life Insurance - Premium per Capita (HRK and US$), 2015-2020
Table 10: Croatian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Croatian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Croatian Non-Life Insurance - Paid Claims (HRK Billion and US$ Million), 2011-2015
Table 13: Croatian Non-Life Insurance - Paid Claims (HRK Billion and US$ Million), 2015-2020
Table 14: Croatian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 15: Croatian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 16: Croatian Non-Life Insurance - Total Assets (HRK Billion and US$ Billion), 2011-2015
Table 17: Croatian Non-Life Insurance - Total Assets (HRK Billion and US$ Billion), 2015-2020
Table 18: Croatian Non-Life Insurance - Investment Portfolio (HRK Billion), 2011-2015
Table 19: Croatian Non-Life Insurance - Investment Portfolio (HRK Billion), 2015-2020
Table 20: Croatian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
Table 21: Croatian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
Table 22: Croatian Property Insurance - Paid Claims (HRK Million and US$ Million), 2011-2015
Table 23: Croatian Property Insurance - Paid Claims (HRK Million and US$ Million), 2015-2020
Table 24: Croatian Property Insurance - Loss Ratio (%), 2011-2015
Table 25: Croatian Property Insurance - Loss Ratio (%), 2015-2020
Table 26: Croatian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 27: Croatian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 28: Croatian Motor Insurance - Paid Claims (HRK Billion and US$ Million), 2011-2015
Table 29: Croatian Motor Insurance - Paid Claims (HRK Billion and US$ Million), 2015-2020
Table 30: Croatian Motor Insurance - Loss Ratio (%), 2011-2015
Table 31: Croatian Motor Insurance - Loss Ratio (%), 2015-2020
Table 32: Croatian Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 33: Croatian Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 34: Croatian Liability Insurance - Paid Claims (HRK Million and US$ Million), 2011-2015
Table 35: Croatian Liability Insurance - Paid Claims (HRK Million and US$ Million), 2015-2020
Table 36: Croatian Liability Insurance - Loss Ratio (%), 2011-2015
Table 37: Croatian Liability Insurance - Loss Ratio (%), 2015-2020
Table 38: Croatian Transport Network - Global Rankings
Table 39: Croatian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 40: Croatian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 41: Croatian Marine, Aviation and Transit Insurance - Paid Claims (HRK Million and US$ Million), 2011-2015
Table 42: Croatian Marine, Aviation and Transit Insurance - Paid Claims (HRK Million and US$ Million), 2015-2020
Table 43: Croatian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 44: Croatian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 45: Croatian Non-Life Insurance - Direct Written Premium by Distribution Channel (HRK Million), 2011-2015
Table 46: Croatian Non-Life Insurance - Direct Written Premium by Distribution Channel (HRK Million), 2015-2020
Table 47: Croatian Non-Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
Table 48: Croatian Average Annual Loss by Hazard, 1990-2014
Table 49: Croatian Non-Life Segment - Market Shares of Leading Insurers (%), 2015
Table 50: Croatia Osiguranje d.d. - Key Facts
Table 51: Croatia Osiguranje d.d. - Key Financials (HRK Million), 2011-2015
Table 52: Euroherc Osiguranje d.d. - Key Facts
Table 53: Euroherc Osiguranje d.d. - Key Financials (HRK Million), 2011-2015
Table 54: Allianz Zagreb d.d. - Key Facts
Table 55: Allianz Zagreb d.d - Key Financials (HRK Million), 2011-2015
Table 56: Jadransko osiguranje d.d. - Key Facts
Table 57: Jadransko osiguranje d.d. - Key Financials (HRK Million), 2011-2015
Table 58: Uniqa osiguranje d.d. - Key Facts
Table 59: Uniqa osiguranje d.d. - Key Financials (HRK Million), 2011-2015
Table 60: Croatia - Insurance Regulatory Framework Key Features
Table 61: Croatia - Life Insurance Regulatory Framework
Table 62: Croatia - Property Insurance Regulatory Framework
Table 63: Croatia - Motor Insurance Regulatory Framework
Table 64: Croatia - Liability Insurance Regulatory Framework
Table 65: Croatia - Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
Table 66: Croatia - Parafiscal Taxes on Insurance Premium
Table 67: Croatia � Corporate Tax Rates for Financial Year 2017
Table 68: Croatian Insurance Industry - Policies and Premium, 2011-2015
Table 69: Croatian Insurance Industry - Policies and Premium, 2015-2020
Table 70: Croatian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 71: Croatian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 72: Croatian Non-Life Insurance - Assets and Investments, 2011-2015
Table 73: Croatian Non-Life Insurance - Assets and Investments, 2015-2020
Table 74: Croatian Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 75: Croatian Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 76: Croatian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 77: Croatian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 78: Croatian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
Table 79: Croatian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
Table 80: Croatian Non-Life Insurance - Property Insurance, 2011-2015
Table 81: Croatian Non-Life Insurance - Property Insurance, 2015-2020
Table 82: Croatian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 83: Croatian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 84: Croatian Non-Life Insurance - Motor Insurance, 2011-2015
Table 85: Croatian Non-Life Insurance - Motor Insurance, 2015-2020
Table 86: Croatian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 87: Croatian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 88: Croatian Non-Life Insurance - Liability Insurance, 2011-2015
Table 89: Croatian Non-Life Insurance - Liability Insurance, 2015-2020
Table 90: Croatian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 91: Croatian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 92: Insurance Industry Definitions