Climate: - Mediterranean and continental; - continental climate predominant with hot summers and cold winters; - mild winters, dry summers along coast.
The Croatian insurance market totaled after the first three quarters of 2018 GWP worth EUR 1.02 billion, 10.8% up y-o-y. Paid claims have increased y-o-y by 13%, to EUR 539.7 million. Top 3 insurers account together for over 52% of the market GWP.
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.
Croatian insurers reported for 1H2018 GWP worth EUR 729.43 million, 9.6% up y-o-y. Paid claims amounted to EUR 375.18 million, 12% up y-o-y. Most of the market growth was provided by the non-life segment, especially the motor insurance lines.
CROATIA osiguranje Group (CO Group), one of the largest insurer in the Adriatic region announced in the Zagreb Stock Exchange website it will merge its credit unit through absorption- CROATIA osiguranje kredita into CROATIA osiguranje.
CROATIA Osiguranje announced on the Zagreb Stock Exchange website that during the first five months of the year, the value of CO Group GWP increased by 8% y-o-y.
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.
The gross written premiums of Croatian insurers totalled 3.65 billion kuna (494.4 million euro) in the first four months of 2018, up 9.27% on the year, official figures show.
By the end of April, the total gross written premium of 21 insurance companies operating in Croatia was up by 9.3% y/y to HRK 3.6bn, according to the latest data provided by the Croatian Insurance Bureau (HUO).
Croatia's financial regulator HANFA has granted permission to diversified conglomerate Adris Grupa [ZSE:ADRS] to launch a buyout bid for catering and tourism company HUP-Zagreb, Adris said.
The Croatian Financial Services Supervisory Agency (HANFA) approved today the merger of the Croatian subsidiary of Vienna Insurance Group (VIG), Wiener Insurance, with Erste VIG, in accordance with the Merger Agreement dated 6 February 2018, the authority's website reads.
Slovenia's largest insurance group - TRIGLAV said it is buying a majority stake in RAIFFEISEN Bank's Croatian pension business, RAIFFEISEN Mirovinsko osiguravajuce drustvo.
Slovenian insurer Zavarovalnica SAVA, part of insurance group SAVA Re, announced it will acquire the two Croatian subsidiaries of the German insurance group ERGO.
RENOMIA - one of the largest corporate and EB insurance broker in CEE Region announced it has acquired a stake in the Croatian broker DPS International.
Croatia tops a list of 33 European countries in terms of the impact of economic losses from natural disasters on the country's GDP between 1980 - 2015 but lags behind when it comes about the insured losses, Total Croatia News reports.
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