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Sector Analysis
Bhutan Insurance Industry – Key Trends and Opportunities to 2025
The gross written premium of Bhutan insurance market was $48.2 million in 2021. The market is expected to grow at a CAGR of more than 7% during the forecast period. Bhutan has sustained growth due to the development of the hydroelectric sector and the dynamism of the tourism sector. The main source of revenue is the sale of electricity to India. Inflation is expected to remain elevated due to higher prices for food and transportation, and is closely linked to...
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Government & Regulation
Employee Benefits in Lithuania, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Lithuania inherited a Soviet-style pension system with characteristics such as generous early retirement provisions, privileges for certain occupational groups, and a weak link between contributions and benefits. The economic crisis in the 1990s forced the Lithuanian government to undertake pension system reforms in 1995. The reforms were intended to make changes in the State Social Pension Insurance (first pillar), enhance the stability of the system by eliminating the generous early retirement provisions, and create a strong link between contributions and...
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Sector Analysis
Employee Benefits in Latvia, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The social security system in Latvia is classified into three categories: state social insurance, social assistance, and the social service system. The state social insurance system covers legislation on social insurance, maternity and sickness insurance, state pensions, mandatory social insurance against accidents, and insurance against unemployment. Social assistance and the social service system are regulated by the Law on State Social Benefits and Law on Social Services and Social Assistance. The Latvian pension system is divided into three pillars: the...
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Sector Analysis
Employee Benefits in Romania, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Romania has a well-established social security system. To provide its citizens with decent living conditions, the Romanian government provides various social security schemes in close association with private institutions. The Romanian pension system is divided into four pillars - the first is a mandatory public pension system, which functions as a pay-as-you-go (PAYG) system. Privately administered pension fund schemes form the second pillar, while voluntary occupational pension schemes form the third pillar, and a private pension forms the fourth. The...
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Sector Analysis
Employee Benefits in Denmark, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Denmark is one of the few countries in the world that adjusted well to the challenge of providing an established social security system and a flexible labor market for its citizens. It was one of the first countries to adopt a multi-pillar pension system, comprising a flat-rate residence-based national pension and private occupational pensions based on collective agreements. The first pillar is the state and compulsory pillar, providing universal cover. It consists of two tiers - the first is a...
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Sector Analysis
Employee Benefits in Bulgaria, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old age, and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes. The report provides in-depth industry analysis, information, and insights of the employee benefits in Bulgaria, including an overview of the state and...
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Sector Analysis
Employee Benefits in Greece, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Greece has one of the most developed and comprehensive welfare systems in the world. The Greek government provides various social insurance and assistance schemes including insurance cover for the elderly, disability, sickness, unemployment, and survivors’ pension schemes. However, social assistance schemes are not provided to elderly people and repatriated citizens, who receive other public welfare services. Greek private employers also offer various benefits to employees including mobile phone benefits, gift vouchers, and stock options. The report provides in-depth industry analysis,...
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Government & Regulation
Slovenia Insurance Industry – Governance, Risk and Compliance
Slovenia Insurance Industry Government Regulation Overview The Insurance Supervision Agency (Agencija za Zavarovalni Nadzor - AZN) regulates and supervises the Slovenia insurance industry with support from the International Association of Insurance Supervisors (IAIS), European Insurance and Occupational Pensions Authority (EIOPA), The Federation of European Risk Management Associations (FERMA), and Slovenian Insurance Association (SIA). The Slovenia Insurance Industry Governance, Risk & Compliance report provides a detailed analysis of the regulations for several insurance types including life, property, motor, and liability. The...