Gross written premiums amounted to EUR 39.2 billion at regional level, up by 10.57% y-o-y. Yet, one should keep in mind that results for 3Q for Bulgaria and Bosnia & Herzegovina are not yet available. The GWP overall figure was calculated using the results of the two markets for the first half of 2024.

We only have a slight approximation of the claims expenses in the region for 3Q 2024 because claims data for Slovenia, Romania and Kosovo are not at all available, while for Bulgaria and Bosnia & Herzegovina we have used once again the 1H results. Even so, it is rather clear that claims paid increased significantly, by almost 18% y-o-y, to EUR 18.93 billion. It is significant that the claims expenses increased the most, in general between 20% and 27% in the largest markets in the Central Europe, the countries in the region being significantly affected by the floods in June and the beginning of the autumn.

Except for Slovenia, all CEE markets saw a positive dynamic, in many cases at double-digit rates. The main reason for the Slovenian negative dynamic is the GWP fall in non-life insurance as a result of the convulsion cause by the governmental decision to abolish, starting with January 1st 2024 the voluntary supplementary health insurance and replace it by a mandatory health contribution managed by the public Health insurance institute of Slovenia. All the policies issued by the insurance companies that provide supplementary health insurance have automatically expired at 31 Decembre.

In the Southeastern Europe, the markets of Cyprus, Greece and Türkiye saw a positive dynamic, the highest growth rate being recorded in Türkiye (32.16%) against the highly inflationary background provided by the Turkish economy.

Motor insurance classes showed a positive evolution in all markets, with GWP increasing at a similar pace to the claims expenses. Increasing repair costs remained a challenging aspect in the motor insurers’ activity.

On the property insurance side, claims paid increased by far faster than GWP. At regional level, GWP increased by 14.54% y-o-y, while claims paid in 3Q2024 are higher than the previous year by over 60%. Czechia, Poland and Slovakia are clearly leading this trend, as not only they were among the countries most strongly hit by the floods, but the insurance coverage for properties is better than in most other countries of the region.

Visit the CEE statistical webpage to see regional statistical data for the main business lines.