Supported by a robust macroeconomic environment, stable fiscal conditions and buoyant consumption, Southeast Europe’s (SEE) insurance industry remained resilient to pressure stemming from the persistent record low interest rate environment, financial market volatility, stricter regulatory requirements, and demographic changes. In the words of top insurance managers, 2016 was “once again extremely challenging” for the sector, however, the Top 100 SEE insurers booked the highest combined earnings and gross written premiums (GWP) in the history of our annual rankings. Moreover, the annual growth in premiums was the highest for the last eight years, while the aggregate net profit rose by a substantial 56%.
Gross written premium and net profit/loss figures are in millions of euro.
(*) Zavarovalnica Sava d.d is a merger of Slovenian Zavarovalnica Maribor d.d., Zavarovalnica Tilia d.d and Croatian Velebit Osiguranje d.d. and Velebit Zivotno Osiguranje d.d.
(**) Data up to Sept 30, 2016