VIENNA, 12-3-2015 — /EuropaWire/ — Vienna Insurance Group has strengthened its position in the Croatian market, with an increase in premium income of 3.4 percent. Market share grew by 0.7 percentage points to 8.4 percent, bolstering the Group’s position as the country’s fourth-largest insurer. Croatian Group companies recorded combined premium income of around HRK 715 million (approx. EUR 94 million)1.
“The Croatian insurance market is undergoing change following the country’s EU accession.
Vienna Insurance Group has repositioned itself by giving its corporate identity on the Croatian market a sharper edge. The Group companies have made effectively use of the available opportunities, and have posted above-average growth.”
Peter Hagen, CEO of Vienna Insurance Group
Double-digit growth in single-premium policies
The life insurance business recorded particularly strong performance in the single-premium policy segment: Wiener osiguranje doubled its premium income, while Erste osiguranje reported an increase of some 20 percent. Vienna Insurance Group has a reputation among customers as a reliable partner thanks to its financial strength.
Over the past six years the Group has tripled income from single-premium life insurance policies in the Croatian market.
Strong performance in comprehensive motor insurance and non-life segments
Following the liberalisation of the third-party liability market, Vienna Insurance Group has succeeded in expanding its comprehensive motor insurance business. Wiener osiguranje achieved outstanding growth of 6.5 percent thanks to a series of sales initiatives, while a drive to boost sales in the corporate customer segment resulted in a 6.6 percent rise in income from non-life operations.
¹Non-consolidated, unaudited results based on preliminary figures stated in the local currency.
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