STATISTICS: CEE region, FY2019: Premiums and claims paid increased at similar paces; Romania enters Top 5 countries in GWP terms

28 May 2020 — Daniela GHETU
The regional CEE insurance market ended 2019 with a 5.85% increase in GWP, to EUR 39.1 billion. The reversed trend recorded by the Polish market, as well as improved dynamic in a few of other bigger markets have led to the overall higher y-o-y growth in 2019 as compared with the 2018/2017 change.

On the other hand, a similar growth pace was recorded on the claims paid side, with a 5.55% increase over the 2018 results, which is also double as compared with the 2018/2017 change.

In absolute terms, the highest contribution to the extra EUR 2.1 billion in premiums was provided by the Polish market (plus EUR 531 million), followed by the Czech one (plus EUR 481 million), Hungary (plus EUR 295 million), Bulgaria (plus almost EUR 200 million), Slovenia (plus EUR 176 million) and Romania (plus EUR 122 million).

In portfolio terms, the motor insurance lines (MTPL and Motor Hull) had the strongest contribution the CEE market growth, providing together for over one third of the total extra premiums volume. The MTPL class contributed by itself with about 20%, reflecting the dominant position that this line of business holds in the regions. Property insurance line's contribution to the market growth stood at about 13% of the premiums volume increase. On the claims paid side, the property, MTPL and Motor Hull lines contributed in a fairly equal measure to the rise in claims expenses. Yet, at the end of a rather stormy year, the increase in property claims exceeded those seen on other lines although overall, MTPL clearly remains the main "provider" of claims expenses.

The Top 5 markets in the CEE, in 2019, were: Poland, Czech Republic, Hungary, Slovenia, Romania, accounting together for a little over 76% of the regional GWP. Poland's regional market share dropped y-o-y by almost 1 percentage point, to 38.3%, a difference almost entirely offset by the slight appreciation of the other Top 5 countries' weights. The 2019 novelty in ranking terms is the Romania entering on the 5th position, a place previously held by Slovakia.

An extended analysis of the CEE regional market's evolution in 2019, as well as country review for the over 30 markets in the CEE, SEE and CIS regions will be soon available in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - FY2019.

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