CROATIA: Croatia Osiguranje sees profit growth in 3Q

2 November 2021 — Marina MAGNAVAL
Croatia Osiguranje is the leader on the Croatian market, with a total share of 26.9%. For 9 months of 2021 its GWP in Croatia amounted to HRK 2.27 million (+5% y-o-y), and consolidated GWP, including regional branches, amounts to HRK 2.73 (+5%).

The combined ratio from the regular operations of the Group is 92.9, which is 0.2 p.p. better than last year, primarily due to the lower claims' ratio in the reporting period, wrote.

In the first nine months of 2021, Croatia osiguranje generated a consolidated net profit of HRK 320 million (~EUR 42.71 million*), a 9% increase y-o-y.

In early 2021, a series of transformation initiatives were launched that led to the GWP growth and more efficient cost management. Several innovations in key product LoBs are also being prepared: motor insurance, comprehensive property insurance and health insurance.

*1 EUR = 7.4913 HRK (01.10.2021)

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