Croatia
Ante Žigman and the current members of the Croatian Financial Services Supervisory Agency’s Council confirmed for a new mandate
Ante Žigman will continue to serve as President of the Croatian Financial Services Supervisory Agency (HANFA) for a new mandate of six years, flanked by four members of the Administrative Council: Jurica Jednačak, Antun Palarić, Tomislav Ridzak and Anamarija Staničić, who will replace the previous member Ilijana Jeleč, HANFA announced on 7 February.
8 February 2024STATISTICS: Croatia insurance market totaled EUR 1.7 billion at the end of 2023
According to the Overview of the financial services sector – December 2023 published by The Croatian Financial Services Supervisory Agency (Hanfa - total premium collected by insurance companies in 2023 amounted to EUR 1.7 billion, of which EUR 0.3 billion (18.4%) related to life insurance premium and EUR 1.4 billion (81.6%) to non-life insurance premium.
31 January 2024CROATIA: Market authority reports cyber-attack on its computer system and the recovery measures
The Croatian Financial Services Supervisory Agency (Hanfa) suffered a cyber-attack on its computer system on January 23, 2024. Both the causes and consequences of the attack are still under investigation, HANFA cooperating with all competent authorities to this end and to determine the total damage.
31 January 2024CROATIA: market GWP up by 7.1% in 2023, but claims expenses increased at a double pace
The total premium collected by insurance companies in 2023 was EUR 1.7 billion, 7.1% up y-o-y. Out of this total, 18.4% (EUR 0.3 billion) refers to life insurance premiums, while non-life insurance premiums account for 81.6%, or EUR 1.4 billion. Paid claims increased by +13.6% y-o-y, amounting to EUR 1.2 billion, HANFA – the Croatian FSA, said.
25 January 2024CROATIA: Croatia Osiguranje will propose to distribute EUR 65 million in dividend
Croatia’s top insurance company Croatia Osiguranje last week informed that its management and supervisory boards will propose to the shareholders to distribute EUR 65 million in dividend on preferred and ordinary shares (EUR 151.27 per share) from retained earnings from previous years, SeeNews wrote.
23 January 2024CROATIA: the new Law on mandatory motor insurance to harmonize it with EU norms
In mid-December, the Croatian Parliament approved a decision that will stop the monopoly of insurance companies. Parliament after 15 years harmonized the law on mandatory motor insurance with EU legal norms, osiguranje.hr reports.
19 December 2023CROATIA: in 10M2023 non-life generated 83% of the market volume
Total collected GWP of 14 insurance companies, operating in the market, for the first ten months of 2023 amounted to EUR 1.4 billion, of which EUR 243.8 million (17.0%) were life premiums, and EUR 1.2 billion (83.0%) - non-life, the Croatian Financial Services Supervisory Agency (HANFA) reports.
29 November 2023STATISTICS: Croatian insurers' Q3 2023 business remained at 2022 level
According to the September 2023 Monthly Report published by HANFA – Croatian Financial Services Supervisory Agency, at the end of September 2023 the total premium collected by the 15 local insurers amounted to EUR 1.3 billion, of which EUR 0.2 billion (17.15%) related to life insurance premium and EUR 1.1 billion (82.85%) to non-life insurance premium.
8 November 2023Croatia Osiguranje: Despite revenue growth of 11%, extreme bad weather affected profits for 9M 2023
Consolidated income from insurance sales of Croatia Osiguranje Group of companies amounted to EUR 348 million, 11% more y-o-y. The consolidated net profit for the same period was EUR 31.2 million, the Group said. Yet, adjusting 9M2022 results according IFRS 17, for comparability, 9M2023 net profit fell by 27% y-o-y.
1 November 2023CROATIA: In the first eight months the market totaled EUR 1.2 billion
From January to August 2023, 15 insurance companies operating in Croatia collected total GWP worth EUR 1.2 billion, of which EUR 196.2 million (17.0%) related to life insurance and EUR 980.1 million (83.0%) to non-life insurance, the Croatian Financial Services Supervisory Agency reports.
25 September 2023Jasminka Horvat Martinović leaves the position of President of the Management Board of the Croatian VIG subsidiary, Wiener osiguranje
Jasminka Horvat Martinović is leaving the position of President of the Management Board of the Croatian VIG subsidiary Wiener osiguranje at the end of June, osiguranje.hr reports. Starting first of July, the company will be managed by the current members of the Management Board, Tamara Rendić and Božo Šaravanja.
29 June 2023STATISTICS: CROATIA, Q1 2023: Non-life insurance segment saved the day, maintaining the market on a slightly positive path
Thanks to the positive, double digit growth rate recorded for the non-life segment, which offset the significant fall of the life insurance business, the Croatian insurance market saw in the first quarter of the year a very modest, but positive dynamic. GWP increased, overall, by 1.5% y-o-y, to EUR 411.16 million.
25 May 2023CROATIA: Amendments to the MTPL Law in preparation stir hot debates
Croatian motor insurers are preparing to face a new Law on compulsory MTPL. Currently the draft Law is going to the process of public debate, which should be completed by June 3rd. After that the amended Law will be submitted to the Government, and then to Parliament and is expected to take effect already in the fall.
18 May 2023CROATIA: Croatian Insurance Days 2023: Insurers have business resilience even in challenging times
Croatian insurers are ready to face the upcoming macroeconomic, technological, and regulatory challenges, as was said at the 10th edition of the largest annual gathering - Croatian Insurance Days 2023, organized by the Croatian Insurance Office (HUO) and partners, svijetosiguranja.eu wrote.
17 May 2023CROATIA: Less than two weeks to new Croatian Insurance Days
Croatian Insurance Days will take place in Opatija, Amadria Park Grand Hotel 4 Opatija Cvijeta, organized by the Croatian Insurance Agency from May 3 - 5, 2023, svijetosiguranja.eu wrote.
27 April 2023CROATIA: Croatia Osiguranje to pay a total of EUR 980,000 in dividend
Croatia Osiguranje, one of the biggest insurers in SEE, plans to distribute a dividend of EUR 14.86 per preference share for 2022. Thus, a total of EUR 980,000 will be paid out in dividend.
20 April 2023CROATIA: the insurance business in the first two months exceeded EUR 258 million
In the first two months of 2023, 15 insurance companies operating in the Croatian market, collected EUR 258.3 million, of which EUR 48.1 million (18.6%) were generated in life insurance and EUR 210.1 million (81.4%) - in non-life insurance, svijetosiguranja.eu reports with reference to the data from Hanfa (the Croatian financial services supervision agency).
6 April 2023CROATIA: Changes in the Management Board of Allianz Hrvatska
The Supervisory Board of Allianz Hrvatska approved appointment of Josipa Parac Bistrovic as a new member of the Allianz Hrvatska Management Board. Josipa Parac Bistrovic officially started holding the position on March 3, 2023, with a mandate lasting 3 years and will be responsible for product management, osiguranje.hr reports.
9 March 2023CROATIA: Acredia to strengthen its position on the Croatian market
Acredia, the leading company for credit insurance on the Austrian market, specialized in debt collection and protection, strengthens its position on the Croatian market, svijetosiguranja.eu wrote.
22 February 2023STATISTICS: Croatian FY 2022 insurers' business increased by 8% y-o-y
The aggregate FY 2022 GWP reported Croatia-based insurers increased by 8.18% y-o-y, reaching HRK 12.7 billion (EUR 1.68 billion), according to the yea-end data published by the Croatian Insurance Bureau. Total gross claims paid increased to HRK 7.71 billion from HRK 7.29 billion a year earlier.
9 February 2023
