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Insurance Industry in Montenegro Is Dominated by Non-Life Segment and Trend Is Going to Continue Till 2018, Finds New Report

Market Research Reports, Inc. has announced the addition of “The Insurance Industry in Montenegro, Key Trends and Opportunities to 2018” research report to their offering.

 

Lewes, DE -- (SBWIRE) -- 09/30/2014 -- In terms of gross written premium the Montenegrin insurance industry increased at a review period (2009–2013) CAGR of 2.6%. The growth was led by the life segment, which grew at a CAGR of 7.6%, and personal accident and health insurance with a CAGR of 3.8%. The non-life segment constituted 72.1% of the industry, followed by the life segment with 14.9% and the personal accident and health segment with 12.9% in 2013. Motor insurance constituted 72.9% of the non-life segment, followed by property insurance with 19.8%.

The report provides in-depth industry analysis, information and insights of the insurance industry in Montenegro, including:

- The Montenegrin insurance industry’s growth prospects by insurance segment and category

- The competitive landscape in the Montenegrin insurance industry

- The current trends and drivers of the Montenegrin insurance industry

- Challenges facing the Montenegrin insurance industry

- Detailed regulatory framework of the Montenegrin insurance industry

Scope:

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

- It provides historical values for the Montenegrin insurance industry for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.

- It offers a detailed analysis of the key segments and categories in the Montenegrin insurance industry, along with forecasts until 2018.

- 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 Montenegro, and outlines the key regulations affecting them.

Reasons to Buy:

- Make strategic business decisions using in-depth historic and forecast industry data related to the Montenegrin insurance industry and each segment within it.

- Understand the demand-side dynamics, key trends and growth opportunities within the Montenegrin insurance industry.

- Assess the competitive dynamics in the Montenegrin insurance industry.

- Identify the growth opportunities and market dynamics within key segments.

- Gain insights into key regulations governing the Montenegrin insurance industry and its impact on companies and the industry's future.

Key Highlights:

- In terms of gross written premium the Montenegrin insurance industry increased at a review period (2009–2013) CAGR of 2.6%.

- The non-life segment constituted 72.1% of the industry, followed by the life segment with 14.9% and the personal accident and health segment with 12.9% in 2013.

- Certain amendments were implemented in the technical provisions in the Insurance Law, which came into effect in August 2012. These include provisions for bonuses and discounts, special technical provisions, provisions for reserved claims, provisions for unearned premiums, and risk equalization reserves.

- According to the World Bank, Montenegro had the highest per capita income in south-east Europe in 2013.

- Poverty is a major challenge in Montenegro. Despite the slight economic recovery and increased FDI, the poverty rate increased from 6.8% in 2009 to 11.3% in 2012, according to the World Bank.

- Low premium rates per policyholder and high operating expenses for insurers are likely to be challenges over the forecast period.

- The Montenegrin insurance industry was served by six life insurers and five non-life insurers in 2013.

Know more about this report
http://www.marketresearchreports.com/timetric/insurance-industry-montenegro-key-trends-and-opportunities-2018

Spanning over 169 pages, 120 Tables and 109 Figures “The Insurance Industry in Montenegro, Key Trends and Opportunities to 2018” report covering Executive Summary, Introduction, Montenegrin Insurance Industry Overview, Industry Segmentation, Governance, Risk and Compliance, Competitive Landscape, Economic Indicators, Appendix. This report Covered 4 Companies - Grawe osiguranje AD Podgorica, Merkur osiguranje AD, Lov?en osiguranje AD, Delta Generali Osiguranje AD.

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