Fast Market Research recommends "Slovenia Insurance Report Q3 2016" from Business Monitor International, now available
[ClickPress, Wed Jul 06 2016] We retain a broadly positive outlook for the Slovenian insurance market as a whole. Although comparatively smaller, the life insurance sector is poised to grow steadily at a strong annual rate over the course of our forecast period. Bolstered by supportive demographic t r ends and rising disposable household incomes, we believe that the life sector growth will outpace non-life growth out to 2020. The significantly larger and more developed non-life sector is expected to see slower growth, led by dominant lines such as motor, property and health insurances .
Key Updates And Forecasts
We are currently forecasting steady economic growth in Slovenia, with GDP growth expected to remain over 2.5% annually over the medium term. We do note, however, that the ongoing migrant crisis could impact this outlook, both due to associated costs and due to a deterioration in regional relations. Should economic growth slow, we would revisit a range of forecasts, including those for the insurance sector.
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Our forecasts for the Slovenian non-life sector see premiums growing by an annual average of 3.8% in local currency terms between 2016 and 2020. In US dollar terms, growth is more varied due to ongoing currency fluctuations. Overall, we expect non-life premiums to increase from USD1.6bn in 2016 to USD2.1bn in 2020.
The life insurance market is considerably smaller, writing premiums of just above USD600mn in 2016. We do expect to see stronger annual growth over the course of the forecast period, however, at 9.2% in US dollar terms, as the life sector continues to challenge conventional savings products. As a result, premiums are forecast to reach USD915mn in 2020.
The Slovenia Insurance Report has been researched at source and features BMI Research'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 Slovenia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Slovenian insurance industry.
Benchmark BMI's independent insurance industry forecasts for Slovenia to test other views - a key input for successful budgeting and strategic business planning in Slovenia's insurance market.
Target business opportunities and risks in Slovenia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
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