Non-Life insurance Sector Leads the Montenegrin Insurance Industry: Ken Research

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Non-Life insurance Sector Leads the Montenegrin
Insurance Industry Ken Research
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The country's economy is service-based, with the
service sector accounting for 88 of GDP in
2014. The most FDI inflow was in the areas of
tourism, real estate, energy, telecommunications,
finance, healthcare and construction. The
country's population registered an annual growth
rate of 0.1 in 2015 and currently is 0.6 million
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Ken research announced latest production on The
Insurance Industry in Montenegro, Key Trends and
Opportunities to 2020, which offers vast
knowledge on the comprehensive overview of the
Montenegrin economy and demographics, also
provides detailed information on the competitive
landscape in the country and details of
regulatory policy applicable to the insurance
industry including the recent changes made in the
regulatory structure. This report includes the
amalgamation of 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. It analyzes the result of natural
hazards in the Montenegrin insurance industry.
This report guides to gain insights into key
regulations governing the Montenegrin insurance
industry, and their impact on companies and the
industry's future which further identifies the
growth opportunities and market dynamics in
significant segments by providing significant
performance indicators such as written premium,
incurred loss, loss ratio, commissions and
expenses, total assets, total investment income
and retentions during the review (2011-2015) and
forecast periods (2015-2020).
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The economy of Montenegro is for the most part a
service based economy, currently in the middle of
economic transition. The economy of this little
Balkan state is recouping from the effect of the
Yugoslav Wars, the decrease of industry taking
after the separation of SFRY, and UN financial
sanctions. The economy progressed only after
World War 2, as it became a part of the SFRY,
during this phase, Montenegro witnessed a growth
of urbanization and industrialization through
various segments such as steel, aluminium,
electricity generation, textile and forestry. The
huge financial losses under the severe effects of
the UN sanctions on the whole economy of
Montenegro are speculated to be approximately
6.39 billion. This period was marked by the
second highest hyperinflation in the history of
humankind. The country's economy is
service-based, with the service sector accounting
for 88 of GDP in 2014.
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Montenegro's protection industry has been liable
to critical changes because of uneven monetary
development and advancement in the course of the
most recent decade. Being less developed than
other European insurance ventures, its
introduction to the worldwide financial crisis
was generally low. Not at all like nations with
developed insurance businesses where the life
fragment is prevailing, is Montenegros insurance
industry driven by the general, or non-life, and
individual accident and health portions, which
together represented 85.9 of the gross composed
premium in 2012. The life fragment represented
14.1 of the aggregate composed premium in 2012
and Life insurance accounted for 16.8 of the
Montenegrin insurance industry, in terms of gross
written premium in 2015, despite the fact that
its share has enhanced fundamentally since 2003
when it represented 4.6. The Montenegrin life
segment developed at a much speedier CAGR of
6.9, than the other two sections amid the survey
time frame.
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• Montenegro's small population is a key challenge
  for insurers. The country's population registered
  an annual growth rate of 0.1 in 2015 and
  currently is 0.6 million. The economy depends
  intensely on tourism and exports of refined
  metals, yet real estate is picking up
  significance. Unbeneficial state organizations
  trouble public finances and unemployment is high.
• To know more on the coverage, tap on the link
  underneath
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/insurance/insurance-montenegro/
  51140-93.html
• Related Reports
• https//www.kenresearch.com/banking-financial-serv
  ices-and-insurance/insurance/non-life-insurance-sl
  ovakia/55795-93.html

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Contact Ken Research Ankur Gupta, Head
Marketing Communicationsquery_at_kenresearch.com
91-124-4230204