HomeInsuranceCroatian insurance coverage market will develop by solely 0.1% in 2020

Croatian insurance coverage market will develop by solely 0.1% in 2020

ZAGREB, November 21, 2021 – The insurance coverage market in Croatia in 2020, with a complete gross premiums of 10.68 billion kuna (1.4 billion euros) paid by insurers, barely elevated by 12.9 million kuna (1, 72 million euros) or 0.1% yr on yr. The Croatian Competitors Company (AZTN) introduced this on Friday.

“In comparison with 2019, once they amounted to only over 10.66 billion HRK, in 2020, gross premiums stagnated. When conducting an correct evaluation, solely a symbolic improve of 12.9 million kuna within the quantity of accrued gross premiums, or simply 0.1, was recorded. %, ”AZTN stated following a ballot, which confirmed that 15 insurance coverage corporations had been doing enterprise within the home market, that’s, lower than a yr earlier.

By comparability, insurance coverage corporations recorded a 6.5% year-on-year rise in gross premiums in 2019, stated AZTN, whose survey relies on publicly launched knowledge from the Croatian Insurance coverage Bureau (HUO) and the Croatian Monetary Companies Supervisory Authority. (HANFA).

The most important market share, 25.1%, belongs to Croatia Osiguranje.

It was adopted by Euroherc, which, together with Adriatic Osiguranje and Agram Life, is a part of the Agram concern. Collectively they account for 25.6% of the market with an upward development. In 2019, they accounted for 23% of the market.

The third place is taken by Allianz Hrvatska with 10.7% of the market. That is adopted by Wiener Osiguranje VIG with a 9% share and Generali with 7.3% of the market.

In 2020, a complete of seven insurance coverage corporations registered a rise in written gross premiums for the yr, together with two corporations that do enterprise by their subsidiaries in Sava Osiguranje and Adriatic Slovenica.

That is considerably much less in comparison with 2019, when there have been 14 insurance coverage corporations available on the market.

To be taught extra in regards to the enterprise, observe the devoted TCN web page.

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