STATISTICS:

CEE, FY2017: GWP and paid claims increased at the same pace: 11.5%

The CEE insurance market saw a 11.5% y-o-y growth in 2017, statistical data gathered by XPRIMM show. Overall, GWP amounted to EUR 36.12 billion. With a similar increase, paid claims reached almost EUR 22 billion. The forthcoming issue of the XPRIMM Insurance Report for FY2017, to be launched on May 14, will present in depth information in this regard.

While all CEE insurance markets have recorded positive growth rates, four of them have reported outstanding, double digit increases of the GWP volume: Poland (18%), Latvia (21.3%), Lithuania (11.7%) and Estonia (10.1%).

On the paid claims side, many of the region's markets have experienced significant increases in the suns paid by insurers, mostly driven by the extreme weather events occurred last year.

Poland maintained its unquestionable top position in regional ranking, accounting for 41.4% of the region's GWP. Czechia ranks second (16.3% market share), followed by Hungary (8.5%) and Slovenia (6%). The Slovak and Romanian markets have closely competed for the fifth position, with market shares differentiated by only 0.03%: the Slovak Republic (5.91% -based on the unaudited results), Romania (5.88%).

The forthcoming edition of the XPRIMM Insurance Report will present an in-depth analysis of the regional market performance in 2017, also providing for regional rankings on the main business lines and detailed information concerning each market of the region. The report will also contain regional and country by country information for the CIS and SEE regions.

XPRIMM Insurance Report FY2017 - CEE, SEE & CIS will be officially released on May 14, on the occasion of the International Market Trends Conference at FIAR - The International Insurance-Reinsurance Forum (Bucharest, 13 - 16 May). Participants to the conference will benefit from a complimentary copy of the report.

Click here  to order a copy of the XPRIMM Insurance Report FY2017 - CEE, SEE & CIS.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

The Insurance Business in Transition to the Cyber-Physical Market

What we generically call "Cyber risk" is, in fact, a family of risks and it is worth observing if there is a commonality in the perception - thus management - of the risk in the academic, risk management, insurance and policymaking communities. The present study found that cyber breach is perceived as "critical" due in part to its own nature and, importantly, in part to the weak understanding of its impact and our preparedness.

2018-07-19

Hail and windstorms cause multi-billion global economic loss in June; draught may be this summer's nightmare for European farmers

Overall, extreme weather events led to a multi-billion dollar economic toll, of which insurers have to pay more than USD 3 billion in claims for US losses alone, the latest edition of Aon's monthly Global Catastrophe Recap report shows. Economic losses in the Central and South-Eastern Europe amounted some hundred million USD, but weather continued also in July, adding extra costs which may also amount to significant sums.

2018-07-11

Swiss Re's sigma: The global insurance market slowed down in 2017; emerging markets and the US strengthening economy will lead future growth

Global insurance premiums increased 1.5% in real terms1 to nearly USD 5 trillion in 2017, after rising 2.2% in 2016, the latest sigma report reads. Growth in both the life and non-life sectors slowed. According to Swiss Re Institute next years will see the life insurance segment's premiums improving driven by the strong growth in the emerging markets, especially China, while the strengthening economy of the US will lead the non-life global market's development.

2018-07-05

MENA: Fast growing insurance business outpacing economic growth min the region

Insurance markets of the Middle East and Northern Africa (MENA) are expected to continue outgrowing the region's GDP over the next 12 months. Personal lines business remains the key growth driver, with primary insurers benefiting from compulsory insurance requirements as well as regulatory actions supporting rates, the latest edition of the MENA Insurance Pulse reads.

2018-06-28

ON THE MOVE

TOP EVENT

photodune-3834701-laughing-girl-xs

LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation

Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.

20.09.2018

photodune-3834701-laughing-girl-xs

LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"

The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.

13.09.2018

Willis Re - Market still soft, but functional

Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.

10.09.2018

See all