Impact of Global Financial Crisis on Insurance Industry in Selected Western balkan Countries

Jelena Kocovic, Milica Kocovic () and Marija Jovovic
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Jelena Kocovic: Faculty of Economics, University of Belgrade
Milica Kocovic: Institute of Economic Sciences
Marija Jovovic: Faculty of Economics, University of Belgrade

Chapter 36 in European Integration Process in Western Balkan Countries, 2012, vol. 1, pp 708-725 from Institute of Economic Sciences

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.

Keywords: financial crisis; insurance; investments; Western Balkan countries (search for similar items in EconPapers)
Date: 2012
ISBN: 978-972-9344-05-3
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