The GWP underwritten by Croatian insurers totaled HRK 2.54 billion (EUR 332.34 million) in the first quarter of 2015, up by 3.76% y-o-y, the Croatian Insurance Bureau announced. The value of paid claims by insurers totaled HRK 1.06 billion, 1.22% less y-o-y.
Croatian insurers reported gross written premiums of HRK 8.56 billion (EUR 1.11 billion) in 2014, down 5.68% y-o-y, according to the preliminary market figures published by the Croatian Insurance Bureau. On insurance classes, the non-life segment saw a 9.4% decrease, to HRK 5.92 billion, while the life insurance segment generated a business volume of HRK 2.64 billion, up by 3.9% compared to FY2013.
Vienna Insurance Group (VIG) said on Tuesday its profit before taxes
from operations in Croatia rose 2.0% to 5.9 million euro in the first
nine months of 2014.
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%.
Experts from Allianz S.E. have said that the take-up of property insurance is low in Croatia, Domivrt.vecernji.hr reports. Following
the May floods that hit the Slavonia region, people had started
exploring property insurance more, but the level of awareness remains
low, the experts said. Increased awareness about property insurance would lead to increased sales of this type of insurance, they added.
Croatian tobacco-to-tourism conglomerate ADRIS Grupa said on Monday it
consistently strives to be the regional leader in all fields of its
operation, including the insurance market which it entered earlier this
year. This goal could be achieved through organic growth or
acquisitions and, in this sense, ADRIS is also interested in the
region's biggest insurers, the Croatian company said in a statement.
Croatian insurers posted combined gross written premiums of HRK 5.96 billion (USD1.0 billion/ EUR 781.7 million) in the first eight months of 2014, down 5.1% compared to the same period last year, the Croatian Insurance Bureau said on Friday.
Croatian insurers reported for 1H2014 a GWP volume of EUR 618 million, down by 6.3% y-o-y. Almost 70% of the negative difference in volume was generated by the falling business volume of the market leader, CROATIA Osiguranje which ended 1H2014 with 13% y-o-y decease in GWP, to EUR 188 million.
German financial services group Allianz said on Friday its operating profit on the life/health segment in Croatia quadrupled to 8.0 million euro (USD 10.7 million) in the first half of 2014.
Croatian insurers posted combined gross written premiums of 3.93 billion kuna (518.4 million euro) in the first five months of 2014, down 4.5% compared to the same period last year, the Croatian Insurance Bureau said.
According to the preliminary data published by the Croatian Insurance Bureau, in the first three months of the current year, the insurance market totaled HRK 2.45 billion (about EUR 320 million), 2.7% lower than in the 1Q2013.
Market regulator HANFA on Friday announced that it has approved a takeover bid by Adris for the remaining free float in insurer Croatia Osiguranje. The obligation to make the bid was triggered by the purchase of a 39.7% stake from the government, with which it acts in concert. For the remaining 54,096 common and preferred shares of Croatia Osiguranje, Adris is offering HRK 7,412.25 per share, equal to the price paid for the government stake and new shares issue in the capital increase, valuing the free float at HRK 401mn.
UNIQA Insurance Group AG (UNIQA) completed the acquisitions in full of
the Croatian and Serbian insurance operations of the Swiss Baloise Group
on March 11. The relevant agreements were closed following approval by
all of the Austrian, Croatian and Serbian authorities involved. The
agreement on the acquisition of Baloise's subsidiaries in Croatia and
Serbia by UNIQA was signed in October 2013. The price for the
acquisition is 75 million euros.
The 2013 results of the Croatian insurance market show a 0.4% growth in GWP, when denominated in local currency, but a 0.8% decrease in euro, reflecting, in fact, a stagnant status of the insurance business. Total GWP amounted to aprox. EUR 1.2 billion, with a 28% share of life insurance premiums.
The Croatian government on Wednesday selected the binding offer of the
Rovinj-based Adris Grupa for the acquisition of a portion in the Croatia
Osiguranje insurer, as it offered 905 million kuna for 39.05% of the
ordinary stock in the insurance company, which means EUR 970.45 per
Croatian insurance market totaled HRK 6.9 billion (EUR 910 million) in the first nine months of 2013, up 0.96% from a year earlier, according to the financial figures published by the Croatian Insurance Bureau. As in previous reporting periods, the market leaders were CROATIA Osiguranje with a 30.5% market share, followed by ALLIANZ Zagreb with 13.2% and EUROHERC (10.2%).
Hungary's biggest lender OTP is among the companies looking to bid in
the privatization of Croatia-based Hrvatska Postanska Banka and national
insurance company Croatia Osiguranje, Croatia's post bank and insurance
The first half of 2013 ended for the Croatian insurers with a total GWP premium fairly equal to the one recorded in 1H2012, of HRK 4.9 billion (0.35% up y-o-y). Denominated in European currency, due to a minor appreciation of the Croatian Kuna, the figures show a slightly better image, with a nominal y-o-y growth rate of 1.14%, to EUR 659.5 million. The life insurance segment deserves all the credit for this positive trend, showing a 5.9% growth in local currency, while GWP for the non-life business lines decreased by 1.4%.
A total of seven companies, including Vienna Insurance Group (VIG), American International Group (AIG) and German insurer Ergo Versicherungsgruppe AG, filed expressions of interest for a stake in Croatia Osiguranje [ZSE:CROS-R-A], Zagreb-based media reported on Tuesday.
Croatia's Croatia Osiguranje (CO) insurance company is continuing to
increase its share in Slovenia's Pozavarovalnica Sava, planning to
acquire a controlling interest, Ljubljana's Dnevnik daily said on