The best growth rates were recorded in Romania (45) and Czechia (23.2%), among the bigger markets of the region, while other 6 markets recorded double digit growth rates. Slovakia was the only market reporting decreasing GWP, but the negative trends was mostly driven by the local Generali company becoming a branch of an insurance company from another Member State.
The mandatory MTPL insurance line provided for the largest contribution to the regional premium growth, with GWP increasing at the above average rate of 15%, to EUR 2.55 billon. By far, the most impressive growth was recorded in Romania, where GWP doubled y-o-y, reaching to EUR 478.7 million, driven mostly by the raising prices following the City Insurance failure. As a result, Romania's market chare in the region's MTPL business increased from 10.7% to 18.7%.
Motor Hull GWP reached EUR 1.6 billion, almost 13% up y-o-y. Property insurance GWP grew by almost 15%, to EUR 1.76 billion, while paid claims went by up by 35%, to EUR 579 million. Life insurance, on the other hand, saw an only 2% increase in premiums, to EUR 3.16 billion. The negative change in premiums recorded in Poland (-5%) due to legal changes that hampered somewhat life insurance sales was the main factor causing the low growth rate in the regional premiums volume.