The Croatian Financial Services Supervisory Agency (Hanfa) took part in the tenth Croatian Actuarial Conference “All faces of modern risks”, held under the auspices of Hanfa and the Ministry of Finance, where Board President Ante Žigman reviewed the macroeconomic backdrop and the insurance sector’s performance. He pointed to record results, with 2025 insurance premiums reaching EUR 2 billion and expectations of further growth next year, while flagging the need to revive life insurance, which he said is currently in decline. Žigman noted that total insurance premiums have nearly doubled over the past decade, driven mainly by growth in non-life premiums, particularly motor and comprehensive cover, influenced by inflation and a higher number of insured vehicles. He also described shifts in insurers’ investment structures, with fixed-income investments still the largest component alongside a growing share of corporate bonds and a continued rise in equity exposure; while the domestic market is more exposed to real estate than the EU, Hanfa’s stress tests indicate assets remain sufficiently liquid and sector capitalisation is still high. In a panel on cyber and global risks, Hanfa’s Information Security Office cited estimated damages of EUR 17 million from reported cyberattacks in 2024, versus an estimated total cybercrime cost of around EUR 170 million when unreported incidents are included; the conference also included a briefing on the Digital Operational Resilience Act (DORA) and ICT risk management. Hanfa’s Insurance Supervision Department separately presented the upcoming Solvency II review, covering key amendments, known EU-level quantitative impacts and related guidelines currently under public consultation.

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