STATISTICS: CROATIA, 1Q2018: paid claims went up at a double rate to premiums

The Croatian insurance market ended 1Q2018 with GWP worth EUR 373.26 million, 7.38% up y-o-y. The highest contributions to the market growth, in absolute terms, came from the traditional life insurance line and both motor insurance classes.

Life insurance saw, overall, a 6.9% y-o-y growth rate as the almost 20% increase in GWP recorded by the traditional life insurance, meaning in absolute terms a surplus of about EUR 14.7 million, was negatively offset by the decreasing trend recorded by the Unit-Linked products, with premiums going down by over 21%.

The non-life segment recorded a 7.6% y-o-y increase in GWP, to EUR 255.6 million, mainly driven by the positive trends seen on the motor and the property insurance lines.

Yet, it is worth noting that Q1 also brought a 13.9% increase in the claims paid, some business lines recording quite impressive double digit growth of the claims expenses: while almost all life insurance classes saw a significant increase in the indemnities volume, on the non-life side the absolute "champion" was the property segment, both its classes witnessing higher claims costs by about 40%.

CROATIA Osiguranje, ALLIANZ Zagreb, EUROHERC Osiguranje continued to lead the Croatian market, in an unaltered hierarchy. The Top 3 companies accounted for about 55.6% of the market GWP, a share which has increased y-o-y by about 3 percentage points.

Access www.xprimm.com and download the 1Q2018 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
Share |

Related articles

CROATIA osiguranje to absorb its health insurance unit

HANFA - the Croatian Financial Services Supervisory Agency informed on its website it has approved the merger through absorption between CROATIA osiguranje and its private health insurance unit - CROATIA zdravstveno osiguranje.

2017-06-29

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all