January 30 (SeeNews) - Allianz Zagreb said on Monday it has maintained its leading position on the Croatian life insurance market in 2016, with a share of 18.5%.
The insurer's gross premium income from life insurance rose 0.74% last year, reaching to 539.7 million kuna ($77.2 million/72.2 million euro), Allianz Zagreb said in a statement.
"In a time of low interest rates, we have redirected our business from classic life insurance to insurance with an investment component, with the firm conviction that these products are better for customers and for insurers in the long run", the company CEO, Boris Galic, said in the statement.
The combined gross written premiums of Croatian insurers totalled 8.8 billion kuna at the end of December, up 0.42% on the year, data published on the website of the Croatian Insurance Bureau showed earlier this month.
Twenty-three insurance companies operated in Croatia last year, following the merger of Sunce osiguranje with Agram Life at the end of 2015.
The 24 insurers that operated in Croatia in 2015 posted combined gross written premiums of 8.72 billion kuna that year, up 1.91% compared to 2014.
(1 euro=7.47695 kuna)