The gross profit of Allianz Hrvatska (the Croatian unit of German insurer Allianz) reached a record-high EUR 24.2 million last year, which means an increase of EUR 5.6 million compared to 2022, thanks to growing profitability of its non-life and life insurance operations, SeeNews reports.

The company's GWP rose 4.4% on the year to EUR 205 million in 2023.

Its gross profit in life insurance was up 76.8%, while gross profit in non-life insurance increased 9.8% last year.

The solvency rate at the end of 2023 stood at 202%, with a combined ratio of 91.2%, the source said.

Allianz Zagreb is among the biggest insurers in SEE.