Slovakia Insurance Report Q1 2008 |  | Author: Business Monitor International
Publisher: MarketResearch.com
Category: Book
Buy New: $530.00
as of 9/9/2010 12:47 CDT details
Seller: Amazon.com
Format: Download: PDF
Media: Digital
Pages: 32
ASIN: B003GWZU1I
Publication Date: February 8, 2008
Availability: Available for download now
| | |
| Editorial Reviews:
Product Description
This report differs from its predecessors in that it includes BMI’s Insurance Business Environment Rating(IBER). The rating brings together a number of pieces of relevant quantitative data, together with BMI’sCountry Risk Rating (CRR). It is now much easier to consider the business environment for the insurancesector in any one country relative to the business environment for other industries in that country that aresurveyed by BMI, and the business environment for the insurance sector in other countries.
Slovakia’s IBER is 61.3. While the market is attractive in most structural senses, it is critically limited bythe small population of just 5.4mn and the consequently limited potential economic size. The economyand the insurance sector are both growing solidly and the political environment is stable. However, theIBER is held back by the limit of potential returns from a small market that is already fairly welldeveloped.
Over the forecast period, we anticipate that non-life premiums will grow by 17% annually in localcurrency terms and by 18% in US dollar terms. Life premiums are expected to increase by 13% annuallyin local currency terms and by 15% in US dollar terms. The key drivers of growth in the non-life segmentin 2007-2012 are the anticipated rise in nominal GDP from around US$72 to US$114and an expectedincrease in non-life penetration from 1.9%GDP to 2.8%. The key driver of growth in the life segment isthe envisaged rise in life density from US$199 per capita in 2007 to US$400 per capita in 2012. Slovakiahas zero population growth.
Slovakia has 14 cross-border firms competing in its non-life sector. On this measure it is ranked 7th of the62 countries for which BMI has collected data. There are 15 cross-border firms competing in the smallerlife segment. On this measure Slovakia is ranked 5th among the 62 countries for which BMI has collecteddata. These are remarkably high rankings for such a small market, especially so when you consider thatthere are also a number of local firms competing in that market. Some form of rationalisation would seemto be necessary and inevitable.
|
|
|