Croatia

Croatia – turning the corner

The Croatian economy is showing signs of recovery after a couple of very tough years which saw a collapse in the financial markets, increasing unemployment and a marked decline in income.

The signs are emerging that recovery is on the way, and we are seeing ‘green shoots’ in the transport, manufacturing and tourism sectors, as well as a growing interest in the services we can offer to the large local employers in utilities, transportation and construction.

The last few years have seen radical changes in the country’s legislature, and moves towards building a more stable and regulated economy to attract inward investment.

Low penetration, high opportunity

There is a great potential for insurance products in the Croatian market, as historically they have not enjoyed a high penetration, and often values are at book rather than replacement cost.

MAI Croatia is working actively with a number of key insurers to develop products that will prove attractive to Croatians, and cover:

Reinsurance for local insurers writing large and complex risks
Financial loss and bonds for CAR/EAR
PI schemes
Public entities, particularly for casualty
EU opportunities

The planned accession to the EU by Croatia in the summer of 2013 will undoubtedly open up major opportunities in areas such as trade, privatisation, construction, infrastructure and energy, but there are significant cultural and logistical challenges in the path of investors.

MAI Croatia is already well-versed in helping companies understand these risks and opportunities and provides expert counsel for companies looking to protect their investments

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