The total GWP in Croatia in the first 10 months of 2024 amounted to EUR 1.6 billion, which is 11.41% more y-o-y. Of the total, EUR 271.3 million (17%) came from life insurance, and EUR 1.3 billion (83%) - from non-life, osiguranje.hr reports.

Fitch Ratings has assigned Croatia's top insurer Croatia Osiguranje (Crosig) an Insurer Financial Strength (IFS) rating of 'A-' (strong) with a stable outlook, SeeNews reports.

Marsh McLennan appointed Jasminka Horvat Martinović, former director of the Croatian Association of Managers CROMA, as President of the Management Board of Marsh McLennan Croatia. She replaces Iva Rogović Lekić who left the company for GrECo Specialty, in Vienna.

Consolidated revenue from insurance sales, including regional subsidiaries, amounted to EUR 392 million, up 12% compared to the same period last year. In 3Q2024, Croatia osiguranje generated a consolidated net profit of EUR 46.3 million, which is an increase of 43% versus 3Q2023, when storm damage negatively impacted profits in the period.

Last year, there were 71 deaths per million inhabitants in Croatia, while the average in the EU was 46, osiguranje.hr reports.

According to data provided by HANFA – the Croatian Financial Services Supervisory Agency, at the end of September 2024 the total premium collected by the local insurers amounted to EUR 1.43 billion, of which EUR 0.25 billion (12.18% y-o-y growth) related to life insurance premium and EUR 1.18 billion (10.6% y-o-y growth) to non-life insurance premium.

A cooperation agreement was signed between Croatia osiguranje and OVB Allfinanz Hrvatska, to further enrich OVB's portfolio of products and services, svijetosiguranja.eu reports.

In the first half of the year, Wiener osiguranje collected EUR 75.5 million in premiums and ranked third on the domestic insurance market. While its total premium income recorded a 5.2% annual growth, in the non-life insurance the pace was twice as fast (11.1%), osiguranje.hr reports.

The 14 insurance companies operating on the Croatian insurance market in 1H2024 have collected premium worth EUR 953.3 million, of which EUR 175.5 million (18.5%) for life insurance and EUR 776.8 million (81.5 %) for the non-life insurance lines, data provided by the market authority (HANFA) show.

Croatia osiguranje, part of the Adris Group, reported in 1H2024 a consolidated income from insurance sales, including regional branches, of EUR 251 million, which is 14% more y-o-y. The consolidated net profit reached EUR 33.6 million, 10% up y-o-y, the Group announced.

The Croatian Financial Services Supervisory Agency (Hanfa) has adopted a new Rulebook on the procedure for resolving compensation claims of persons injured in traffic, thus providing clear guidelines for insurers on the obligation arising from the new Law on Compulsory Traffic Insurance adopted in the beginning of the year.

In the first five months of the year total GWP collected by insurance companies amounted to EUR 776.7 million (+11.4% y-o-y), of which EUR 133.8 million (17.2%) refers to life insurance, and EUR 642.9 million (82.8 %) – to non-life insurance, according to a monthly report of the Croatian Financial Services Supervisory Agency (Hanfa).

The Insurance and Reinsurance Distributors Association of the Croatian Chamber of Commerce (HGK) has become a member of BIPAR (European Federation of Insurance and Financial Intermediaries), osiguranje.hr informed.

While car sales in the EU fell in May, Croatia again recorded double-digit growth, according to data from the ACEA manufacturer association, osiguranje.hr writes.

According to the “Overview of supervised entities’ activities in the financial services sector for March 2024” published by the Croatian Financial Services Supervisory Agency (HANFA), the total gross written premium collected by the 14 insurance companies operating on the market in the first three months of 2024 amounted to EUR 451.9 million, of which EUR 77.7 million (17.2%) related to life insurance premium and EUR 374.2 million (82.8%) to non-life insurance premium.

The largest independent comparator of insurance and telecom services in Croatia, kompare.hr recently set new standards in the industry by creating a tech platform for digital distribution of motor insurance.

Ante Žigman, President of the Board, Croatian Financial Services Supervisory Agency (Hanfa), stated that to achieve the declared goals of the green transition, investments in the European Union in that segment should on average be at the level of about 4.5% of GDP, which for Croatia is about EUR 3.4 billion per year.

Digital financial services are inherently borderless, which raises the question of when a notification obligation is required on “cross-border provision of services” and, if so, how to classify these services - under FOE or FOS, Ante Žigman, President of the Croatian market authority, Hanfa said.

The gross profit of Allianz Hrvatska (the Croatian unit of German insurer Allianz) reached a record-high EUR 24.2 million last year, which means an increase of EUR 5.6 million compared to 2022, thanks to growing profitability of its non-life and life insurance operations, SeeNews reports.

The largest and most important annual meeting of insurers will again take place in Opatija this year, on May 8-10, at the Amadria Park Grand Hotel 4, Opatija, Cvideta, the Croatian Insurance Bureau announced.