Impact of global financial crisis on insurance industry in selected Western Balkan countries

Kočović, Jelena and Kočović, Milica and Jovović, Marija (2012) Impact of global financial crisis on insurance industry in selected Western Balkan countries. In: European integration process in Western Balkan countries. Faculty of Economics of the University of Coimbra, Coimbra, pp. 708-725. ISBN 978-972-9344-05-3

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Abstract

The chapter analyses the effects of the global financial crisis on the insurance market of selected Western Balkan countries, taking into account their characteristics, the achieved level of development, frameworks within which they function, and emerged tendencies on the world insurance market. The impact of the crisis is considered with respect to both business and investment side of the insurance company results. In addition to identifying existing problems of insurers during the crisis, warns of upcoming issues expected in the post-crisis period are indicated and possibilities for overcoming them suggested. Useful recommendations for further conduct and development of insurance operations are provided on the basis of comparative analysis of the insurance industry performances in time segments before and after the onset of the crisis.

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