STATISTICS: CEE, 3Q2015: Slightly positive trend, envisioning a close to "0" growth for the year end

The CEE insurance market ended the first 3Q of 2015 with an aggregate GWP volume amounting to EUR 24.2 billion, by 0.48% higher y-o-y. Although most markets in the region saw a positive trend, the high growth rates recorded in the small markets hardly managed to offset the negative change in GWP recorded by Poland, the Czech Republic and Slovakia.

The regional life insurance GWP went down by 3.4%, driven by the negative trend recorded in Poland and the Czech Republic, while on the non-life side, the change in premiums production was positive (+3.5%).

There is worth pointing out that the results denominated in European currency are somehow affected by the national currencies exchange rates volatility witnessed in some countries as Hungary, Poland, the Czech Republic etc.

Poland remains the largest market in the region, although its market share decreased by almost 1pp. The Czech Republic, Hungary, Slovakia and Slovenia are completing the Top 5 regional ranking. Only two of the Top 5 markets recorded a positive trend in 3Q2015, Hungary and Slovenia, while the largest contribution to the regional market's growth came from the Romanian market (ranked 6th), which saw a y-o-y positive change in GWP of 7.6%, meaning an additional volume of premiums as compared with 3Q of EUR 100 million.

As far as the perspectives for the current year are concerned, it seems that the CEE insurance segment could benefit from the economic recovery momentum. However, the region is far from returning to the high growth rates of the pre-crisis period, especially in its most relevant markets. Overall, 2015 looks to end with a volume increase of underwritings in the vicinity of the "0" point, as compared with the previous reporting periods the overall growth pace seems to be falling, but the differences between the markets of the region are substantial in terms of dynamics. Regional results could record a noticeable improvement in 2016 if the decline in life insurance in Poland and the Czech Republic would mitigate and if sales of the car, increasing economic recovery and general lead to a revival of lines auto insurance in relevant markets region.

Access www.xprimm.com and download the 3Q2015 CEE insurance market statistics:

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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