The Group has started opening several of its properties across the markets in which it operates, in response to relaxation of measures which were imposed due to the Covid-19 pandemic.
Arena Hospitality Group published an announcement on the Zagreb Stock Exchange stating that they have has started opening several of its properties across the markets in which it operates, in response to relaxation of measures which were imposed due to the Covid-19 pandemic.
In Croatia, the Group commenced with the opening of campsites, and plans to open further selected properties over the coming two weeks. The properties designated to open and the level of operations within these properties reflect expected customer volumes and market dynamics. All operations strictly adhere to the relevant local and international health authority guidelines as well as the Group’s, PPHE’s and Radisson’s standards.
The company notes that selected properties outside Croatia will be fully operational within the coming two weeks.
Arena adds that in order to navigate through the challenging period, the Group adopted a series of exceptional operational measures. These include steps to effectively manage payroll costs and reduce other costs across the business, and the utilization of business support measures provided by governments across its geographies.
Of the CAPEX previously announced, the Group confirms that the second phase of the investments in Arena Kažela Campsite and in the self-catering apartment resort Verudela Beach Pula are now complete.
In April GWPs recorded a slight decrease of 0.9% YoY, indicating that Slovenian insurers were only slightly grazed by the lockdown which occurred throughout the whole month.
The Slovenian Insurance Association published their monthly update on the GWP development in Slovenia. In the first 4 months of 2020, the Slovenian insurance market observed an increase in both life and non-life segment, leading to a total GWP growth of 4.66% YoY, amounting to EUR 935.13m.
Non-life segment, which accounts for 72.1% of the total GWPs, recorded also an increase of 5.3%. Such an increase came on the back of a very strong health insurance performance, which recorded an increase of 12.6% YoY and is the largest non-life item in Slovenia (23.7% of total GWPs). Such a solid increase arguably came mostly on the back of increasing prices of health insurance premiums.
It is noteworthy that land motor vehicles insurance observed a slight decrease of 0.22%, amounting to EUR 118.13m. Meanwhile motor vehicle liability insurance witnessed a slight decrease of 0.71%, amounting to EUR 102.2m.
Turning our attention to the life segment, it also recorded a 2.97% YoY increase, amounting to EUR 260.8m.
GWP Development (Jan-Apr 2019 vs Jan-Apr 2020) (EUR m)
Solely April 2020
When observing solely April, GWPs recorded a slight decrease of 0.9% YoY, indicating that insurers were only slightly grazed by the lockdown which occurred throughout the whole month.
The mentioned decrease came from a decrease in the life segment which recorded a strong 7.1% decrease YoY, amounting to EUR 61.5m. Such a decrease was partially offset by a 1.8% increase in non-life segment (by EUR 2.8m). The increase came mostly on the strong performance of health insurance by 10.4% or EUR 5.03m. Meanwhile land motor vehicles insurance and motor vehicle liability insurance observed a slight decrease of 1.9% and 0.4%, respectively.