Abstract This paper deals with the influence of competition on soundness of Croatian insurers using the Boone indicator when measuring competition. The authors analyse Croatian insurers that operated over the pre-EU accession period 2008 – 2012 as well as in the period 2013 – 2017, i.e. after the accession to the EU. Several firm-level, industry-level and macroeconomic variables are used in the research. The findings of the analysis are twofold. Specifically, the Boone indicator reveals the impact of competition on the performance of efficient insurers in post-EU accession period only accounting for the reallocation effects proving that efficient insurers make higher profits. Regarding the determinants of the insurers’ soundness, premium to surplus ratio and inflation rate play significant role in pre - EU accession period whereas reinsurance and GDP growth rate are statistically significant after EU accession. Moreover, the competition increased in the years after the EU accession. Robustness check provides similar results.

中文翻译：

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布恩指标是克罗地亚保险市场稳健性的决定因素

摘要本文使用Boone指标来衡量竞争时竞争对克罗地亚保险公司稳健性的影响。作者分析了在欧盟加入前2008年至2012年以及2013年至2017年即加入欧盟之后运营的克罗地亚保险公司。研究中使用了几个公司层面，行业层面和宏观经济变量。分析的结果是双重的。特别是，布恩（Boone）指标揭示了加入欧盟后竞争对有效保险公司业绩的影响，但仅考虑了重新分配效应，这证明了有效保险公司可以获得更高的利润。关于保险公司健全性的决定因素，保费盈余比和通货膨胀率在加入欧盟之前起着重要作用，而加入欧盟后，再保险和GDP增长率在统计上是重要的。此外，在加入欧盟后的几年中竞争加剧了。健壮性检查提供类似的结果。