STATISTICS: CROATIA, 1H2020: Insurers' business declined by 2.30% y-o-y due to double digit decrease in life insurance

20 August 2020 — Andrei Victor
Croatian insurers H1 2020 GWP fell by 2.30% y-o-y to HRK 5.66 billion (~EUR 749 million*), according to the statistics published by Croatian Insurance Bureau.

Non-life GWP increased buy 3.49% to HRK 4.26 billion, whereas the life insurance segment premiums of HRK 1.40 billion, down 16.49% y-o-y, the CIB report show.

Croatia osiguranje continues to hold a leading position with a total share of about 28%. The total gross premium written amounted to HRK 1,584 million (~EUR 205 million*), which is 5% less compared to the first six months of last year, "primarily due to the decline in the life insurance market, but also targeted optimization and the removal of the unprofitable part of the portfolio", as the company's officials mentioned in a statement.

ALLIANZ Hrvatska ranked second with 11.37% market share (HRK 644 million) followed by EUROHERC Osiguranje, which offers only non-life insurance with 11.33% (HRK 641.65 million).

A total of 18 insurance companies operated in the country at the end of June 2020.

* for the following exchange rate:
1 EUR = 7.558818 Kuna - HRK (June 30th, 2020)

Access and download the latest Croatian insurance market statistics.
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