Croatian passenger cars owners have benefitted from the MTPL market liberalization, as well as from the products diversification, has found a recent survey performed by the local Competition Agency. According to the survey's conclusions, the market is "competitive and well structured" and consumers currently have a better choice than in the past years.
Croatian diversified conglomerate Adris Grupa said on Tuesday it has
formally absorbed tobacco factory Tvornica Duhana Zagreb TDZ.
Twenty five years after the break-up of Yugoslavia, Slovenia and Croatia
are the clear front-runners in terms of development of insurance
markets among the republics of the former federation, S&P Global
Ratings said on Monday.
Croatian insurers posted an aggregate GWP of HRK 6.74 billion (about EUR 900 million) in the first nine months of 2016, up by 0.3% y-o-y, according to the preliminary statistics published on Croatian Insurance Bureau - CIB website. Non-life GWP increased by 1% y-o-y to HRK 4.6 billion, while the life insurance segment totaled HRK 2.1 billion, or 1.2% less y-o-y.
The combined gross written premiums of Croatian insurers totalled 6.1 billion kuna (813.5 million euro) at the end of August, down 0.7% on the year, the Croatian Insurance Bureau has said.
According to the half year report on insurers' performance published by the Croatian Insurance Bureau - HUO, in 1H2016 the local insurance industry fairly remained at the 1H2015 level, the GWP volume by the 23 active insurers totalling EUR 640.7 million (HRK 4.81 billion) - 0.12% more y-o-y. Per segments, life GWP went down by 2.3% y-o-y to EUR 202.7 million, while the 18 non-life insurers wrote premiums of EUR 438 million, up by 1.3% y-o-y.
Adris Group and Croatia osiguranje, the insurance company owned by
Adris, have received permission from the Slovenian Agency for
Supervision of Insurers (AZN) for a direct access to the Slovenian
market, reports Poslovni.hr on August 13, 2016.
In the first half of 2016, the Adris tourism and insurance group netted HRK 151 million in profits which, despite the sale of its tobacco business, is the same as at the same time in 2015, when net profits were HRK 150 million, the group said on Friday.
According to the data published by the Croatian Insurance Bureau, in the first three months of the current year, the insurance market totaled HRK 2.52 billion (about EUR 336 million), 0.5% lower than in the 1Q2015.
Zagreb-based insurer Croatia Osiguranje [ZSE:CROS-R-A] said on Monday it has gained regulatory approval to indirectly acquire qualified stakes of more than 10% each in local peers Velebit Osiguranje and Velebit Zivotno Osiguranje.
Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] confirmed on Thursday that it has requested the permission of Slovenia's insurance regulator to increase its stake in re-insurer Sava Re.
Croatian insurer Allianz Zagreb said on Friday its gross profit amounted
to 125.6 million kuna (16.7 million euro) last year, an increase of
11.9 million kuna compared to 2014. Gross premiums edged down 2.2% to
1.19 billion kuna in 2015, while the solvency margin stood at 254.3%, up
5.2% on the year, Allianz Zagreb said in a statement.
A Croatian conglomerate which controls Croatia's biggest insurer has reportedly increased its stake in Slovenian insurance and reinsurance group Sava Re. Business daily Finance writes that nearly EUR 10m in trade with Sava Re shares on Friday involved block deals with which Adris grupa bought 4.4% of Sava Re.
Austrian insurance group UNIQA said on Thursday its earnings before taxes from operations in Croatia surged to 5.5 million euro in 2015 fiscal year from 4 million euro a year earlier.
Croatian insurers posted combined gross written premiums of 869.5 million kuna (114 million euro) in January, down 0.84% on the year, the Croatian Insurance Bureau said.
Despite the falling MTPL premium figures, the Croatian insurance market saw an overall positive trend in 2015, with total GWP going up by 2.26%, to EUR 1.14 billion. The life insurance segment's weight in the total portfolio increased by 3pp, to 33.6%, due to the positive evolution which led to an 11.6% in GWP. On the non-life segment premiums went down by almost 2%, driven by the falling tariffs on the MTPL line.
Croatian insurers posted combined gross written premiums of 7.36 billion kuna (966.5 million euro) in the first ten months of 2015, up 1.82% on the year, the Croatian Insurance Bureau said on Thursday.
Croatian diversified conglomerate Adris Grupa said on Friday it plans to list abroad in 2018. "Our
goal, with the help of leading global consultants, is to prepare the
company for listing on one of the world bourses in 2018," Adris Grupa
said in a filing to the Zagreb bourse.
Croatian insurers posted aggregate GWP of HRK 6.72 billion (about EUR 881 million) in the first nine months of 2015, up 2.43% y-o-y, according to the preliminary statistics published on Croatian Insurance Bureau website. Non-life GWP decreased by 2.65% y-o-y to HRK 4.55 billion, while the life insurance segment totaled HRK 2.17 billion, or 15.04% more.
Croatian diversified conglomerate Adris Grupa said on Tuesday that the
president of its managing board, Ante Vlahovic, has declined to meet
with Czech-Slovak investment fund J&T amid media reports that the
fund is mulling a hostile takeover of the Croatian group.