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Liberalization And Market Concentration In The Insurance Industry: Case Of Croatia

Author

Listed:
  • Lorena Skuflic

    (UniversityofZagreb,FacultyofEconomicsandBusiness)

  • Fran Galetic

    (University of Zagreb,Faculty of Economics and Business)

  • Branimir Greguric

    (University of Zagreb,Faculty of Economics and Business)

Abstract

This paper analyzes market concentration on the market of insurance companies in Croatia. For a very long time, Croatian insurance market was dominated by one company.After the liberalization, the number of insurance companies on the market began to increase, which led to a significant fall in levels of market concentration.The paper analyzes various indicators of market concentration, and for each indicator there is a calculated value which should help to see the trend.From all the analyzed indicators of market concentration, three were selected for the estimation of econometric models trend.The aim of these models is to predict the movement of market concentration on the insurance market in the next few years.The analysis shows that in the near future we can expect a further reduction in the level of concentration on Croatian insurance market companies,as well as the transition to less concentrated market structures.

Suggested Citation

  • Lorena Skuflic & Fran Galetic & Branimir Greguric, 2011. "Liberalization And Market Concentration In The Insurance Industry: Case Of Croatia," Economic Review: Journal of Economics and Business, University of Tuzla, Faculty of Economics, vol. 9(2), pages 61-75.
    • Handle: RePEc:tuz:journl:v:9:y:2011:i:2:p:61-75
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    Cited by:

    1. Tomislava Pavić Kramarić & Mirjana Pejić Bach & Ksenija Dumičić & Berislav Žmuk & Maja Mihelja Žaja, 2018. "Exploratory study of insurance companies in selected post-transition countries: non-hierarchical cluster analysis," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(3), pages 783-807, September.
    2. Tulus Suryanto & Darul Dimasqy & Reza Ronaldo & Mahjus Ekananda & Teuku Heru Dinata & Indra Tumbelaka, 2020. "The Influence of Liberalization on Innovation, Performance, and Competition Level of Insurance Industry in Indonesia," Sustainability, MDPI, vol. 12(24), pages 1-25, December.

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