In March 2019, GWPs rose 6.2% compared to last year. GWPs in non-life insurances grew 10.8% YoY, while life insurance decreased by 4.5% YoY.

In March 2019, GWP’s rose 6.2% compared to the same period last year. The total amount of GWPs collected reached HRK 2.98bn (includes insurers located in Croatia and insurers operating in Croatia but based in another EU country).

Total Croatian T12 GWP and Croatia Osiguranje T12 GWP (HRK bn)

The amount of GWPs in non-life insurances, which traditionally account for the biggest portion, grew 10.8% YoY, amounting to HRK 2.1bn. Meanwhile, life insurance observed a decrease of 4.5% YoY, reaching HRK 835.5m.

Croatia Osiguranje (together with Croatia Osiguranje Kredita) continues to account for about 30% the market, and the company’s market share decreased by 4 p.p. When observing their GWPs, they amounted to HRK 887m, which represents a decrease of 8% YoY.

Croatia Osiguranje T12 Market Share (%)

The new subordinated bond would replace the existing issued subordinated bond due in 2020.

Triglav Group published announcement in which they state that they are examining the possibility to issue a new subordinated bond to replace the existing issued subordinated bond due in 2020. The company states that this is a part of the regular capital management activities of Triglav Group and note that this information is not a public offering or a commitment of Triglav to issue bonds.

To read more about Triglav click here.