Insurers in the Central and East European (CEE) insurance markets wrote gross premiums worth EUR 13.45 billion in Q1 2024, which is 7.6% more y-o-y. Paid claims amounted to EUR 6.84 billion, 6% up y-o-y. Most markets recorded a positive dynamic, in some cases even at a double-digit growth rate.
In the Southeastern European markets (Cyprus, Greece, Türkiye) GWP reached a total of EUR 7.46 billion, out of which Türkiye provided for about 77%.
On the life insurance side, aggregated GWP reached EUR 3.36 billion, a total figure out of which Poland is providing for 40%. The y-o-y comparison shows a 4.6% average growth rate. Benefits and indemnities paid reached EUR 2.29 billion, almost 2% up y-o-y.
Non-life insurance GWP saw an aggregated 8.7% growth, to EUR 10.09 billion. With very few exceptions, the non-life segment recorded a positive evolution in all markets. Paid claims increased at a comparable pace (8.24%), to EUR 4.55 billion.
In many markets, the property insurance classes saw a significant growth both in GWP and claims terms against the background of an eventful winter in what natural hazards are concerned. On the motor insurance lines, paid claims increased faster than the GWP, under the ongoing influence of the higher inflation levels.
Visit the CEE & SEE statistical webpage to see regional statistical data for the main business lines.
STATISTICS: CEE & SEE, Q1 2024: a largely positive evolution across the region
24 October 2024 — Daniela GHETU
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