IDEAS home Printed from https://ideas.repec.org/a/isp/journl/v10y2016i1p1-11.html
   My bibliography  Save this article

Concentration And Market Power On The Life And Non-Life Insurance Market In The Republic Of Croatia

Author

Listed:
  • Fran Galetić
  • Martina Loborčec

Abstract

Market power is a term used for determining the possibility of a company to influence the product price in the market. Depending on the indicators of concentration, we can analyze the level of market concentration. The goal of every company is to achieve the highest possible market power or to have the highest possible market concentration, as this consequently lead to higher profit. Especially interesting market is the insurance market where insurance companies can be divided into life and non-life insurance, which is the methodology of grouping them in this paper. In the Republic of Croatia currently there are 25 insurance companies and 1 reinsurance company. Insurance companies together achieve better results in non-life insurance because non-life insurance is more frequent than life insurance. The reason for this is that life insurance is more influenced by cyclical development comparing to non-life insurance, and there is still a lack of awareness about the importance of life insurance. After entering the European Union, Croatia had to harmonize its legislation with the common EU legislation. Entering EU made liberal the approach for Croatian companies to the EU market, as well as for EU firms to Croatian market. The concentration of the insurance market will be measured by various indicators of market concentration separately for life and non-life insurance, and together for the whole insurance market. Based on we will analyze the market power in the Croatian insurance market.

Suggested Citation

  • Fran Galetić & Martina Loborčec, 2016. "Concentration And Market Power On The Life And Non-Life Insurance Market In The Republic Of Croatia," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 10(1), pages 1-11.
    • Handle: RePEc:isp:journl:v:10:y:2016:i:1:p:1-11
    as

    Download full text from publisher

    File URL: https://www.scientific-publications.net/get/1000019/1460211461913387.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    market power; concentration; republic of croatia; oligopolistic market; regression analysis;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:isp:journl:v:10:y:2016:i:1:p:1-11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Svetoslav Ivanov (email available below). General contact details of provider: https://www.scientific-publications.net/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.