Andela SUTIJA, CEO of ANO Insurance and Reinsurance Broker was elected the new President of the Association of Insurance and Reinsurance Brokerage Companies at the HGK (Croatian Chamber of Commerce) session held on February 17. Mate MARKOTA, a member of ZABA Partner, was elected her Deputy.
The two earthquakes experienced by Croatians last year, when many of them had to bear the losses of their pocket in the absence of an insurance policy, seem to have finally raised awareness of the need for earthquake protection, leading to a visible increase in demand for such policies.
After the certification process has been completed, Croatia osiguranje implemented the Employer Partner certificate, being the first insurance company to have obtained this prestigious certificate at the end of December.
The gross written premiums of the 18 active Croatian insurers fell by 0.66% year-on-year to HRK 10.47 billion (EUR 1.38 billion) in 2020, according to the year-end figures published by the Croatian Insurance Bureau - CIB.
The 6.4-magnitude earthquake has hit Croatia in 29 December, killing at least seven people and causing severe damage to the town of Petrinja south-east of the capital Zagreb, has also affected the neighboring Bosnia and Serbia, and was felt also in the southern Austria and Hungary.
Sapiens International Corporation
, a global provider of software solutions for the insurance industry, announced that Croatia osiguranje
(CROSIG), the leading Croatian insurer, has launched a successful go-live with LAQO, a full digital solution for motor insurance.
Croatian Chamber of Commerce (HGK) estimates that FY 2020 insurance premiums related to the risk of earthquake will amount about HRK 110 million, up 28% on the year, as a result of earthquakes that hitted the country during 2020, The Croatia News wrote
At the end of 2020, the CROATIA's osiguranje shareholder - the Rovinj based consortium ADRIS grupa - announced that Ante VLAHOVIC (member of the Supervisory Board and former President of the Management Board from 2004 to 2019) was elected as President of the Supervisory Board.
French insurance group GROUPAMA announced its Hungarian subsidiary - GROUPAMA Biztosito and OTP Banka d.d., Croatian subsidiary of OTP Bank, signed an agreement on the sale and purchase of 100% of the shares of the insurance company OTP Osiguranje.
Croatian Insurance Days, the traditional event organized each autumn by by the Croatian Insurance Bureau (HUO) in partnership with the Croatian Chamber of Commerce, the Croatian Actuarial Society and the Croatian Insurance Law Association, was held online this year via web streaming. XPRIMM supported the even as Media Partner.
The gross written premiums of Croatian insurers decreased by 1.43% y-o-y to HRK 8.042 billion (EUR 1.07 billion) at the end of September 2020, according to the quarterly figures published by the Croatian Insurance Bureau - CIB.
Mario CARINI, CEO and President of the Management Board of GENERALI business units in Croatia pointed out in an interview - published on GENERALI CEE website
given for Svijet osiguranje - all the turbulent challenges that marked the Croatian insurance market since its appointment in December 2019.
CROATIA osiguranje, one of the top insurers in the Adriatic region, member of the Adris Group, launched LAQO - the first Croatian 100 percent digital insurance. The company also announced a HRK 200 million (~EUR 26.5 million) worth digitalization and product development program.
On 1 October, the Management Boards of Generali osiguranje, company registered in Croatia, and Generali zavarovalnica dd, Zagreb Insurance Branch (formerly Adriatic Slovenica Zavarovalna druzba dd, Zagreb Branch) signed the Minutes on the conclusion of the transaction that will reunite under one roof all the Croatian business of the Italian group.
The Council of the Croatian Financial Services Supervisory Agency (HANFA) discussed, among other things, the impact of the corona crisis on the financial services sector and the possible introduction of euro currency in Croatia with its effects on the financial markets.
Ilijana Jelec, Member of the Management Board of the Croatian Financial Services Supervisory Agency (HANFA), said that Croatian insurance market GWP is expected to drop by 4.4% year-on-year, at the end of 2020.
The 5.5 magnitude earthquake that hit Zagreb on March 22, 2020 has materialized for the Croatian insurers, in 6,255 claims settled so far, worth EUR 25.73 million. Expectations are that the final bill for insurers will amount to EUR 55 - EUR 63 million.
Croatian insurers H1 2020 GWP fell by 2.30% y-o-y to HRK 5.66 billion (~EUR 749 million*), according to the statistics published by Croatian Insurance Bureau.
For the first six months of 2020, CROATIA osiguranje Group reported GWP of HRK 1,867 million (~EUR 247 million), about 6% lower than last year. The combined ratio from the Group's regular operations is 91.8% and is almost one percentage point better than last year.
Taking into account the current global economic situation due to pandemic, it is crucial to maintain liquidity and investment potential and preserve jobs, Ante VLAHOVIC, President of the Board of the Croatian ADRIS Grupa - CROATIA's osiguranje shareholder stated at the group's latest GM.