May 3 (SeeNews) - The Croatian unit of German insurer Allianz, Allianz Hrvatska, said on Wednesday its gross profit reached 20.7 million euro ($22.8 million) last year, an increase of 4.1 million kuna compared to 2021, mostly thanks to profitability of its non-life insurance business.
The company's gross premium income rose 20% on the year to 196.3 million euro in 2022, Allianz Hrvatska said in a press release.
In non-life insurance, gross premium income went up by 15% and gross profit expanded by 27% manly due to growth in the property and health insurance segments, as well as a strong rise of the results of its branch in neighbouring Slovenia. Allianz Slovenija reported a record-high 48% growth of gross premiums.
In life insurance, gross premium income increased by 31%
The company's market share reached 12%.
Earlier, it said that its market share in 2021 remained stable at 10.5%.
($= 0.906 euro)
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