STATISTICS: CROATIA, 1H2019: Motor Hull provided for the highest contribution to the market growth

22 August 2019 — Daniela GHETU
The first half of 2019 ended for the Croatian insurance market with aggregated GWP of EUR 784 million, 7.5% up y-o-y, a growth almost entirely provided by the non-life insurance segment.

While the 4.8% y-o-y growth recorded on the traditional life insurance class, accounting for about 29% of the market portfolio, has barely succeeded in offsetting the negative trend seen on the other life insurance classes, especially on the Unit-Linked products, the Motor Hull class has provided for the largest contribution to the market growth. Thus, motor insurers wrote by about 23.000 more policies on the Motor Hull class, recording a 18.7% y-o-y growth in GWP, to EUR 89.7 million. The MTPL class also recorded a positive dynamic, but at a lower pace, of 4.5%.

Credit insurance, a class accounting for about 3% of the market portfolio, recorded the most spectacular increase in the GWP volume, of 61% y-o-y, to EUR 24.7 million.

Croatia Osiguranje maintained its market leader position despite the negative change in GWP of 2.6%. Its market share decreased from 31.8% to 28.8% , still far ahead its main competitors, ALLIANZ Zagreb (13.36% market share, up from 11.9% in 1H2018) and EUROHERC Osiguranje (10.6% market share, up from 9.8% in 1H2018).

Access and download Croatian insurance market statistics.

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