STATISTICS: CROATIA 1H2014: The market leader was responsible for almost 70% of the overall market decrease

Croatian insurers reported for 1H2014 a GWP volume of EUR 618 million, down by 6.3% y-o-y. Almost 70% of the negative difference in volume was generated by the falling business volume of the market leader, CROATIA Osiguranje which ended 1H2014 with 13% y-o-y decease in GWP, to EUR 188 million.

Life insurance business saw a positive evolution, with GWP amounting to EUR 172.6 million, almost 4% up y-o-y. According to the data provided by the Croatian Insurance Bureau, most of the premium increase was due of the single premium traditional life insurance line for which a ~35% increase in GWP was recorded.

ALLIANZ Zagreb, the life insurance leader, reported an impressive growth in GWP, of 25.4%, to EUR 41 million, thus gaining about 4pp in market share, to 23.7%.

On the non-life almost all lines saw a downsize in turnovers. The only notable exceptions were health insurance (+10%), credit insurance (+22%) and financial loss insurance (+3.2%), together accounting for about 6% of the market portfolio. Both major non-life segments, property insurance and motor insurance, continued to show a negative evolution with GWP volume decreasing y-o-y by about 9% and 13% respectively.

Despite the negative trend in its underwriting volume, CROATIA Osiguranje remained the absolute market leader, with a 30.4% market share. ALLIANZ Zagreb ranks second (~15%, 2pp up y-o-y), while the third position is held by EUROHERC Osiguranje (9.3%).

Access and download the 1H2014 Croatian insurance market statistics.

Market portfolio (in EUR and HRK):
  • Gross written premiums
  • Paid claims 
  • Growth rates
Market rankings (GWP/Market shares/Growth rates - in EUR and HRK):
  • Overall market
  • Life insurance
  • Non-life insurance

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

Share |

Related articles

CROATIA osiguranje to absorb its credit insurance unit

The Central Depository and Clearing Company - SKDD announced that Croatia Osiguranje absorbed its credit insurance unit unit Croatia Osiguranje Kredita. "The corporate action of Acquisition of the Companies will be executed on 1 October 2018", as the institution announced in a statement.



Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.



Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all