The insurance industry in Croatia has room for development, notably in the life insurance sector, said Miljenko Ficor of the Croatian Chamber of Commerce, which organised this 8th annual two-day conference.
The ratio of life insurance and non-life insurance policies is 26 to 74 percent, while in the European Union this ratio is about 39 to 61 percent.
In Croatia, the share of insurance premiums in Gross Domestic Product is 2.9 percent, while in the EU it is 8.4 percent. Premiums per capita are about US$ 402 in Croatia, and $2,775 in the EU. All these figures show that there is room for development, said Ficor.
Average life expectancy in Croatia is 76.3 years. The average pension paid in June was HRK 2,397, the average disability pension was HRK 1,937 and the average family pension was HRK 1,860. The figures show that this is not enough for a normal life of an average household. Therefore, young people should be encouraged to think about their future and solve their future through good life insurance, he added.