With HRK 11.8 billion in gross written premiums, Croatia's insurance market in 2021 recorded a 10.7% yearly increase, according to Croatian Competition Agency (AZTN) data from an insurance market survey.

The increase was primarily due to an increase in non-life insurance gross written premiums, AZTN said earlier this week, adding that life insurance also recorded an increase after two years of a negative trend.

In 2021, 16 insurance companies operated in Croatia, one more than the year before.

The gross written premiums in life insurance totalled HRK 2.9 billion, while those in non-life insurance totalled HRK 8.9 billion.

The Croatia Osiguranje insurer posted the highest amount of gross written premiums and held 24% of the market.

Euroherc Osiguranje was second, with a 12.5% market share, followed by Allianz Hrvatska (10.4%), Wiener Osigurane VIG (10.2%), and Generali with a 8.3% market share.

As for groups, the Agram concern, which comprises Euroherc Osiguranje, Adriatic and Agram Life, held the biggest market share in 2021 with 26.2%.

(€1 = HRK 7.5)