STATISTICS: CEE , 3Q2017: The Polish, Czech and Hungarian insurers account together for two-thirds of the regional GWP
The CEE insurance market totaled EUR 25.78 billion at the end of September 2017, up by 9,8% y-o-y, according to the market figures collected and cetralised by XPRIMM.
Per segment, the aggregate value reported by CEE life insurers was of EUR 9.17 billion (equivalent to 35.59% of the total GWP), up by 5.03% over the first nine months of 2016. The remaining EUR 16.61 billion (64.41% of the total GWP) represented gross premiums written for the non-life insurance sub-classes, up by 12.61% compared to September 2016.
In case of the non-life segment, the largest contributions were made by the two motor classes (MoD and MTPL, summed-up): GWP of EUR 9.29 billion, of which EUR 3.40 billion - MoD (13.19% of total GWP) and EUR 5.89 billion - MTPL (22.84% of total GWP).
As in the previous reporting periods, the largest CEE insurance markets were: Poland (EUR 10.70 billion), the Czech Republic (EUR 3.57 billion) and Hungary (EUR 2.28 billion), the three mentioned markets generating about 65% of the total GWP.
On the other hand, Bosnia, Macedonia, Kosovo or Montenegro - all belonging from the geographic point of view to the former Yugoslavian space -, reported the lowest values in GWP.
In terms of growth rates, the most dynamic insurance industries were the three Baltic markets: Lithuania (+16.49%), Latvia (+15.21%) and Estonia (+10.58%).
Access www.xprimm.com and download the 3Q2017 comparative GWP (3Q2017 vs. 3Q2016, in European currency) for the following 17 CEE insurance markets: Albania, Bosnia, Bulgaria, Croatia, Czech Rep., Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.
The presented statistics are made for the following LoB:
- CEE - overall market data (life & non-life, summed-up)
- Overall life insurance market data
- Overall non-life insurance market data
- MoD insurance market data
- MTPL insurance market data