STATISTICS: CEE, 3Q2019: both GWP and paid claims went up y-o-y by a little over 3.5%

The CEE insurance market saw a 3.6% y-o-y increase in GWP at regional level, to EUR 28.68 billion. A similar increase (3.8%) was witnessed on the paid claims side, insurers paying compensations and indemnities in a total amount of EUR 17.25 billion.

Among the 17 markets included in the CEE region's statistics, Bulgaria has recorded the highest growth rate (17.17%), followed by Montenegro (11.5%), these being in fact the only two markets reporting double-digit growth rates. Yet, in absolute terms, the most significant increases in premium volume were seen in the Czech Republic (+EUR 249 million), Hungary (+EUR 166.6 million), Bulgaria (+EUR 163.7 million), Slovenia (+EUR 123 million) and Romania (+EUR 104.4 million). At the opposite end, Poland was the sole market recording a negative overall trend, with GWP decreasing by almost EUR 98 million (~ 1% down).

The life insurance segment was once again the one driving the Polish market's negative trend and hampering the regional performance. Thus, the Polish market saw a 5.38% y-o-y decrease in premiums (EUR 206 million less). This was hardly offset by the positive dynamics recorded by the Czech market (almost 7% up y-o-y, meaning a plus of EUR 114 million in premiums), the Bulgarian one (16.2% up y-o-y or plus EUR 27 million in premiums) and a few other.

On the non-life side, GWP went up y-o-y by 5.36% at regional level, to EUR 19.38 billion, while claims paid increased by about 10%, to EUR 10.07 billion. Bulgaria, Hungary, Croatia and Montenegro were the markets recording double-digit positive growth rates, while no CEE market saw a negative trend. While motor insurance lines seem to be the main drivers of the GWP growth, the responsibility for the increasing claims expenses seems rather fairly split between the MTPL, Motor Hull and property insurance lines (classes III, VIII and X).


Access our database and download CEE 3Q2019 statistics.


3Q2019 individual CEE markets articles:

356 views
Share |