Managament plays a crucial role in understanding the internal and external factors of the company and selecting the optimal strategy that ensures its survival in the industry it operates in, in this case, in the insurance industry. An industry characterised by constant change, strong competition and a focus on a long-term success. It is therefore essential that the company carries out an analysis of the external environment affecting its operations and the overall industry, in oreder to ensure the market leader's position and to alocate its resources. Such analysis includes an analysis of current trends and adpatation to the different insurance market requirements in order for insurance companies to achieve long-term viability. The focus of this paper will be Croatia osiguranje d.d. As a part of Adris Group, Croatia osiguranje d.d., is the largest insurance company of the Republic of Croatia, holding a market share of a quarter. It is a digital leader and records his business successes in each of its branches both within and outside the borders of Croatia. This paper is a research on the process of strategic analysis using it as an example and the analysis of both internal and external factors in order to gain a better understanding of business opportunities and challanges. For the purposes of a comprehensive analysis of the company's financial operations, financial statements publicly available on official websites are being used, as well as the financial indicators describing the company's profitability and providing an overeview of its entire operations. To ensure the credibility of the research, secondary data sources, i.e. professional and scientific literature and verified web sources, were used in the theoretical part of the paper.