Bosnia-Herzegovina Insurance Q3 2018
The insurance market in Bosnia and Herzegovina offers potential investors both substantial growth potential andenormous structural challenges. Unemployment rates are among the highest in the Central and Eastern Europe region, limitingaverage household income rates and dampening demand for all but the most essential (and compulsory) insurance covers. Thecompetitive landscape is restricted and domestic carriers have limited access to capital. That being said, some regional providers areexpanding into the market, which is boosting the range of products available, while wider economic growth will gradually result in amore affluent consumer base. As a result, there is scope for the insurance sector to grow from a relatively low base. Both the life andnon-life segments are expected to grow steadily to 2022, with an average of around 6% annual growth. Therefore, there are signsthat the market is using its resources more efficiently.
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