Istrazivanja i projektovanja za privreduJournal of Applied Engineering Science


ISSN: 1451-4117

E-ISSN: 1821-31977
Volume 7 number 23-24, pages: 41 - 54

Vujovic Ratko
University of Singidunum, Belgrade, Serbia

Thanks to rise of globalization, insurance companies have the unprecedented opportunity to reach new emerging markets, which present new and rewarding opportunities for them with a broad field of actions. These opportunities are related to such factors as consolidation, convergence of insurance and financial service, new form of competition and continued pricing pressure. The globalization of the insurance markets was only made possible by the liberalization and deregulation since before that it has been a strongly protected industry, usually by governments. Therefore, efficient-insurance markets are essential for emerging markets to become integrated into the global economy, as well as to achieve a strong economic growth. The greatest risk currently facing the insurance industry is a potential climate change. These risks will have the greatest consequences to insurers since they will change the business environment and opportunities in the way that insurers must improve their operations and financial performance.

View article

1. (2007) Climate change synthesis report. u: IPCC Plenary XXVII, Spain, November

2. (2009) Natural Catastrophes and Man-Made Disasters in 2008: North America and Asia Suffer Heavy Losses. Sigma, No2, Swiss Re

3. (2008) Natural Catastrophes and man-made disasters in 2007: High losses in Europe. Sigma, No 1, Swiss Re

4. (2009) Topics geo: Natural carastrophies 2008, analysis, assessment, position. Münchener Rückversicherungen Gesellschaft, Germany

5. (2008) Financial crisis: The client markets View summary of a presentation. u: Insurance Forum by Swiss Re's Head of Client Markets, Michel Liès

6. (2004) High growth potential puts emerging markets at frontier of insurance - China and India in the spotlight. Swiss Re sigma study, No5

7. (2008) Globalization and the insurance industry. New York: Levin Institute,

8. (2007) Tržište osiguranja još uvek nerazvijeno. vesti B92,

9. Divljanin, N. (2008) Tržište osiguranja nije ugroženo. Vesti b92,

10. Highs and Lows Weather Risk in Central Europe, Germany, Austria, Switzerland, Czech Republic, Slovak Republic, Slovenia, northern Italy. Munich: Re Group

11. Kovačević, M. (2003) Izazovi globalizacije. Ekonomske teme, vol. 41, br. 2, str. 61-66

12. Mišavić, D. (2009) Sektor osiguranja stabilan u Srbiji - osiguranje u Srbiji bez posledica krize. Osiguranje, Društvo ovlašćenih zastupnika u osiguranju Srbije, www. osiguranje. org. rs

13. Mitchell, M., Schnarwiler, R. (2008) Disaster risk financing, reducing the burden on public budgets. Swiss Reinsurance Company Ltd

14. Narodna Banka Srbije (2008) Sektor osiguranja u Srbiji, Izveštaj za treće tromesečje 2008.

15. Pennay, R. (2007) Market loss index for Europe: Expanding capital market capacity. Zurich: Swiss Reinsurance Company

16. Skipper, H.D., Kwon, J.W. (2007) Risk management and insurance: Perspectives in a global economy. Oxford: Blackwell Publishing

17. Swiss Re (2000) Emerging markets: The insurance industry in the face of globalisation. Sigma, br. 4/ str. 33