STATISTICS: CROATIAN insurers 3Q GWP down 5.4% according CIB

According to the latest data from the Croatian Insurance Bureau (CIB), the 25 insurance companies active on the market wrote gross premium in the amount of HRK 6.6 billion (EUR 860.3 million) by the end of September 2014, which is 5.4% less y-o-y. The life insurance segment increased in GWP by 4.1%, while the non-life sector declined by 8.7%.

In life insurance segment (HRK 1.9 billion, or ~29% of total market) the "traditional life field" was the largest class, accounting HRK 1.7 million or 25.6% of the total market. The unit linked life segment amounted to HRK 77.5 million and decreased by 28% compared to 3Q2013.

In the case of the non-life market, the GWP amounted to HRK 4.7 billion (71% of total) and declined by 8.7% y-o-y, influencing indirectly the market trend. The largest non-life business line remains MTPL with a GWP of HRK 1.9 billion, down 16.7%, followed by property insurance with a ~15% market share.

As in the previous periods, at the top, the market was highly concentrated, the first three companies generating more than half of the business (54.4%): the market leader was CROATIA Osiguranje with a 28.4% market share, followed by ALLIANZ Zagreb with 14.7%, then EUROHERC (9.9%).

Access www.xprimm.com and download the 3Q2014 Croatian insurance market statistics - market portfolio & market rankings: GWP, claims, growth rates, shares.

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

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