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 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.

Share |

Related articles

CROATIA osiguranje to absorb its credit insurance unit

The Central Depository and Clearing Company - SKDD announced that Croatia Osiguranje absorbed its credit insurance unit unit Croatia Osiguranje Kredita. "The corporate action of Acquisition of the Companies will be executed on 1 October 2018", as the institution announced in a statement.



Lloyd's of London announced new members to the Council

Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.



Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all