STATISTICS: CROATIA 1H2014: The market leader was responsible for almost 70% of the overall market decrease
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 www.xprimm.com and download the 1H2014 Croatian insurance market statistics.
Market portfolio (in EUR and HRK):
- Gross written premiums
- Paid claims
- Growth rates
- Overall market
- Life insurance
- Non-life insurance