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Members of the association, including foreign subsidiaries, collected a total of EUR 133.8m in written gross premiums in December, the lowest figure since 2008 when the association began to collect data.

The negative trend was observed in property and life insurance since June 2013. Property insurance premiums, which represent almost 73% of all gross written premiums, fell by 1.99% to EUR 1.428bn over 2012.

The volume of gross written life insurance premiums collected was down 7.47% to EUR 536m.

The largest five members of the association collected a combined EUR 1.5bn in gross written premiums or 78% of the total collected.