Thus, according to the published statistics local insurers and and branches of EU/EEA country enterprises generated during 2020 aggregate GWP of EUR 2.5 billion, 2.38% less y-o-y (vs. EUR 2.56 billion a year before). Of this total, life GWP accounted for EUR 1.23 billion (-4.35% y-o-y), while non-life business totaled EUR 1.27 billion (down by 0.39% y-o-y).
In terms of claims, the aggregate value (life and non-life, summed-up) amounted to EUR 1.98 billion (vs. EUR 2.16 billion in 2019). Life indemnities decreased by 8.25% y-o-y to EUR 602.7 million, while payments related to general insurance subclasses amounted EUR 1.37 billion (-8.66% y-o-y).
In terms of profitability, aggregate gross market profit increased by 8.54% y-o-y to EUR 271.32 million. At the sametime, the YE2020 after tax profit was EUR 197.75 million vs.EUR 182.67 million a year before.
It is worth mention that the technical result improved significantly to EUR 114.4 million (vs -95.4 million a year before due to increases reported in life insurance to EUR 25.5 million (vs. -EUR 149.4 million in 2019), while in non-life LoBs it totaled EUR 86.5 million (vs. EUR 47.7 million a year before).