Effect of Global Economic Crisis on Life Insurance Market‐Countries of the Former Yugoslavia from 2008 to 2011

The paper analyzes the insurance market, with a special emphasis on life insurance, on the territory of the former Yugoslav republics. The life insurance market, and non-life are viewed from several aspects in order to determine the impact of the global economic crisis that emerged in 2008 in the United States, and later spread to other countries in the world and therefore to our region. We looked at the situation in the worst-recession years, and compared it with the situation in the past two years when it was weakened, when the recovery began in most countries of the world. It was found that the situation in Serbia, Slovenia, Macedonia, Bosnia and Herzegovina and Croatia does not differ too much and the crisis spread relatively evenly throughout. The effects were stronger somewhere and somewhere slightly less depending on the level of insurance development. Although paradoxically, the lower the level of development the lower the impact of the economic crisis was, but not absent.