CROATIA Osiguranje, FY2018: net profit increase of 80% against the previous year’s result

CROATIA Osiguranje, a member of the Adris Group and undisputed leader of the Croatian insurance market, ended 2018 with a net profit of HRK 270.4 million (EUR 36.45 million), 80% higher than in 2017, the company’s annual report for last year shows.

Total GWP amounted to HRK 2,778 million, 13% up y-o-y, while total earned premiums reached HRK 2.456 million, an increase of 14%. Non-life line contribution to total GWP volume amounted to 79.7%, the segment reporting a 15% y-o-y increase in GWP. The growth rate recorded on the life insurance side was 6% y-o-y.

Gross paid claims amounted to HRK 1,549 million, 9% up y-o-y, while total administrative costs reached HRK 407 million, exceeding the 2017 volume by 1.5%, while acquisition costs amounted to HRK 486 million, 19% up y-o-y, as a result of continued investment in the sales network. On the non-life side, the company achieved a combined rate of 95.3%, improved by 3.9 percentage points in comparison to 2017.

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