CROATIA Osiguranje Group's net profit rose by 37% in 1H2017

CROATIA Osiguranje Group, one of the largest insurer in the Adriatic region -, posted a first-half net profit of HRK 102 million (EUR 13.8 million), up 37% on the year.

At the same time, the combined rate at Group level, as a ratio between total expenditure and earned premium, improved by almost four percentage points to 99%.

The insurer mentioned in a report published on Zagreb Stock Exchange website, it recorded an increase in aggregate GWP of 2.7% to HRK 1.85 billion (~EUR 250 million).

On insurance business lines, CROATIA Osiguranje Group reported non-life GWP of HRK 1.49 billion / EUR 200 million (2.5% more y-o-y), while HRK 369.2 million / EUR 50 million - represented the value of GWP generated by the life insurance segment (3.3% more y-o-y).

"Indicators achieved in the first six months are the result of successfully implemented organisational restructuring of the Company. Sales organisation and procedures have both been improved. Part of the sales portfolio has been optimised, and new products and services have been offered to the market. Claim processing procedures have become more efficient, and further digitalisation has made business operations simpler and faster, thus increasing the Company's operational efficiency", as the insurer pointed out in a statement.

Used exchange rate (Croatian National Bank): 1 EUR=7.40 Kuna - HRK as of June 30th, 2017

Share |

Related articles

CROATIA osiguranje to absorb its health insurance unit

HANFA - the Croatian Financial Services Supervisory Agency informed on its website it has approved the merger through absorption between CROATIA osiguranje and its private health insurance unit - CROATIA zdravstveno osiguranje.

2017-06-29

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all