ZAGREB, 21 Nov, 2021 - The insurance market in Croatia in 2020 with total gross premiums of HRK 10.68 billion (€1.4 billion) written by insurers, slightly increased by HRK 12.9 million (€1.72 million) or 0.1% year on year, the Croatian Competition Agency (AZTN) reported on Friday.

"Compared to 2019 when they amounted to just over HRK 10.66 billion, in 2020 a stagnation in gross premiums was registered. When a precise analysis is conducted, only a symbolic growth of HRK 12.9 million was registered in gross premiums written or by a mere 0.1%" AZTN said following a survey which indicated that 15 insurance companies did business on the domestic market,  tweo fewer than the year before.

For the sake of comparison, in 2019 insurance companies registered an increase in gross premiums of 6.5% year-on-year, AZTN noted whose survey is based on publicly released data by the Croatian Insurance Bureau (HUO) and the Croatian Financial Services Supervisory Agency (HANFA).

The largest market share, of 25.1%, was held by Croatia Osiguranje.

It was followed by Euroherc, which along with Adriatic Osiguranje and Agram Life, are part of the Agram conncern. Together they account for 25.6% of the market with a growing trend. In 2019 they accounted for 23% of the market.

Allianz Hrvatska ranked third, accounting for 10.7% of the market. The Wiener Osiguranje VIG with a share of 9% and Generali with 7.3% of the market follow.

In 2020 a  total of seven insurance companies registered an increase in written gross premiums on the year, including two companies that do business via their branch offices Sava Osiguranje and Adriatic Slovenica.

That is considerably less compared with 2019 when there were as many as 14 insurance companies on the market.

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ZAGREB, 18 July, 2021- Gross premiums written by Croatian insurance companies in the first six months of 2021 totalled HRK 6.4 billion, which is a 13.1% increase year-on-year, show data released by the Croatian Insurance Bureau (HUO).

Gross non-life insurance premiums increased by 13.1% to HRK 4.8 billion, and gross life insurance premiums went up by 13.3% to HRK 1.6 billion.

Motor vehicle liability insurance continues to be the most prevalent type of non-life insurance, with gross premiums written in the amount of HRK 1.5 billion, an increase of 17% on the year.

Traditional life insurance plans accounted for the largest portion of life insurance, with premiums in the amount of HRK 1.3 billion, 14.6% up from June 2020.

Croatia Osiguranje, Euroherz, Allianz cover a half of insurance market

Croatia Osiguranje (CO) still holds the biggest market share in terms of gross premiums, of 26.7%, with gross premiums written having increased by 7.9% on the year, to HRK 1.7 billion.

It is followed by Euroherc, with a market share of 11.5% and an increase in gross premiums written of 14.8% to HRK 736.7 million.

Allianz ranks third, and it registered an increase in gross premiums written of 11.8% to HRK 719.9 million, and a market share of 11.2%.

(€1 = HRK 7.5)

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