The 14 insurance companies operating on the Croatian insurance market in 1H2024 have collected premium worth EUR 953.3 million, of which EUR 175.5 million (18.5%) for life insurance and EUR 776.8 million (81.5 %) for the non-life insurance lines, data provided by the market authority (HANFA) show.

It is worth noting that the life insurance sector’s weight in the market portfolio increased by about 1 percentage point, to 18.5%. Among the life insurance classes, the Unit-Linked products saw an almost double amount of gross written premiums in 1H2024, as compared with 1H2023, thus increasing their share in the market portfolio by more than 1.5 percentage points, to 3.7%.

The non-life insurance lines with the strongest presence in the portfolio were: MTPL insurance (36.9%), Motor Hull insurance (18.9%) and fire and natural damage insurance (9.2%).

Paid claims in 1H 2024 amounted to EUR 654.7 million, of which EUR 259.1 million (39.6%) benefits and indemnities for life insurance, and EUR 395.6 million (60.4%) for non-life insurance. In the total amount of liquidated claims in non-life insurance, the largest amounts relate to MTPL (41.5%), road vehicle insurance (22.1%) and fire and natural damage insurance (9.3%).

CROATIA osiguranje holds the largest market share, despite a slight decline (-1.5 percentage points), to 25.2%. GWP by the company, member of the Adris Grupa, amounted to EUR 239.8 million, 7.9% up y-o-y.

EUROHERC ranks second, with a market share of 12.4% and GWP worth EUR 118.3 million, 9.6% up y-o-y.

ADRIATIC Osiguranje ranks third, with a market share of 12.3a5 and GWP in 1H2024 of EUR 116.8 million.

The overall market ranking coincides with that of the non-life sector. However, on the life insurance side, ALLIANZ Hrvatska is the market leader, with a market share of 18.3% and GWP of EUR 32.30 million, 60.4% up y-o-y. The subsidiary of the German group took over the first rank in the Croatian life insurance market from Wiener osiguranje Vienna Insurance Group d.d. CROATIA osiguranje, the holder of the 2nd place in the life insurance ranking, is a new entry in Top 3.