In March 2020, GWPs rose by 4.4% YoY. GWPs in non-life insurances grew 8% YoY, while life insurance decreased by 4.5% YoY.
Yesterday, Croatian Insurance Bureau published the GWP development in March 2020.
In March 2020, GWP’s rose by 4.4% compared to the same period last year. The total amount of GWPs collected reached HRK 3.12bn (includes insurers located in Croatia and insurers operating in Croatia but based in another EU country). Such an increase came on the back of in non-life segment (+8% YoY to HRK 2.31bn), which traditionally account for the biggest portion of total GWPs. Meanwhile, life segment observed a decrease of 4.5%, to HRK 808.3m.
When observing GWPs by structure, insurance against civil liability in respect of the use of motor vehicles (which accounts for 19.5% of GWPs) recorded a strong increase of 10% YoY. Next, vehicle insurance (casco policy) which accounts for 11.4% of total GWPs recorded a strong increase of 14.4%. Health insurance observed also a solid performance of 5.9%.
Croatia Osiguranje accounted for 27% of the market, showing a 2.7 p.p. YoY decrease.
