The insurance market in the Republic of Croatia
The insurance market in the Republic of Croatia comprises 27 insurance companies, 32 insurance brokerage companies, over 200 insurance agencies, 150 small businesses acting as insurance agents and 36 small businesses acting as insurance agents at the vehicle roadworthiness test garages. This number needs to be added the number of Banks and Croatian Post that are also licensed to act as insurance agents.
The insurance sector is firmly regulated by the Insurance Act and by the Act on Compulsory Insurance within the Transport sector.
Since this is a regulated market with a great number of participants and insurance products and services, we present you with several tables that should give an insight into this dynamic market
Number of insurance and reinsurance companies
| 31.12.2004 | 31.12.2005 | 31.12.2006 | 31.12.2007 | 31.12.2008 | 31.12.2009 | 31.12.2010 | 31.12.2011 | |
| Life insurance companies | 4 | 5 | 4 | 5 | 8 | 8 | 6 | 7 |
| Non - Life insurance companies | 8 | 7 | 5 | 8 | 9 | 9 | 10 | 10 |
| Composite insurance companies | 12 | 11 | 11 | 10 | 10 | 10 | 10 | 10 |
| Total | 24 | 23 | 20 | 23 | 23 | 27 | 26 | 27 |
| Reinsurance companies | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 |
| Total | 26 | 25 | 22 | 25 | 25 | 29 | 27 | 28 |
Gross written premium per years
| Year | Gross written premium in 000 HRK |
| 2003 | 6.067.042 |
| 2004 | 6.626.867 |
| 2005 | 7.350.074 |
| 2006 | 8.180.156 |
| 2007 | 9.064.932 |
| 2008 | 9.686.102 |
| 2009 | 9.411.336 |
| 2010 | 9.245.543 |
| 2011 | 9.145.245 |
Structure of insurance premium in 2011
| Class of insurance | % |
| Motor vehicle liability insurance | 32,10% |
| Life assurance | 26,59% |
| Insurance of land motor vehicles | 8,72% |
| Other property insurance lines | 8,27% |
| Insurance against fire and natural disasters | 6,19% |
| Personal accident insurance | 5,66% |
| Other classes of insurance | 12,48% |
Source: Publication Croatian Insurance Market 2011 issued by Croatian Insurance Bureau
The market concentration of insurance premium per years
| 2007 | 2008 | 2009 | 2010 | 2011 | |
| Total gross written premium for 5 Insurance companies | 6.276.644.430 | 6.677.388.285 | 6.265.981.637 | 6.039.404.263 | 5.907.076.007 |
| Total - 5 largest Insurance companies in % | 69,24% | 68,94% | 66,58% | 65,32% | 64,59% |
| Total gross written premium for10 Insurance companies | 8.086.113.931 | 8.448.943.111 | 8.099.416.692 | 7.849.006.560 | 7.720.535.027 |
| Total -10 Insurance companies in % | 89,20% | 87,23% | 86,06% | 84,90% | 84,42% |