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The Insurance Industry in Montenegro, Key Trends and Opportunities to 2017 - New Market Study Published

Fast Market Research recommends "The Insurance Industry in Montenegro, Key Trends and Opportunities to 2017" from Timetric, now available

 

Boston, MA -- (SBWIRE) -- 10/31/2013 -- Montenegro's insurance industry has been subject to significant changes due to uneven economic growth and development over the last decade. Being less developed than other European insurance industries, its exposure to the global financial crisis was relatively low. Unlike countries with developed insurance industries where the life segment is dominant, Montenegro's insurance industry is led by the general, or non-life, and personal accident and health segments, which together accounted for 85.9% of the gross written premium in 2012. The life segment accounted for 14.1% of the total written premium in 2012, although its share has improved significantly since 2003 when it accounted for 4.6%. The Montenegrin life segment grew at a much faster CAGR of 6.9%, than the other two segments during the review period.

Key Highlights

- During the last decade, Montenegro's insurance industry recorded uneven growth, although it was not exposed to the financial crisis of 2008 due to its relative under development
- The Montenegrin insurance industry is still in its developmental stages, with only 13 operational companies
- The distribution of insurance products in Montenegro is primarily managed by insurance brokers and agencies
- In terms of gross written premium, the Montenegrin insurance industry was led by motor insurance in 2012 with an industry share of 55.5%, followed by property and individual life insurance with 12.0% and 11.8% shares respectively
- The industry is highly concentrated and the five leading insurance companies accounted for 90.3% of the total written premium in 2011

View Full Report Details and Table of Contents

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 2008-2012 review period and forecast figures for the 2013-2017 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Montenegrin insurance industry, along with 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 Montenegro and outlines the key regulations affecting them

Reasons to Get This Report

- 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

Companies Mentioned in this Report: Lov?en Osiguranje AD Podgorica, Sava Montenegro Podgorica, Delta Generali Osiguranje AD, Uniqa nezivotno osiguranje AD, Grawe osiguranje AD, Swiss osiguranje, Uniqa zivotno osiguranje AD, Lov?en zivotna osiguranja, Merkur osiguranje, Wiener St?dtische zivotno osiguranje

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