Despite noting a steep drop in market the share and premiums, the Croatia Osiguranje insurance company will still pay out a 3,600 Kuna Christmas bonus to its employees, the highest bonus in any of the state-owned companies
Of all the state companies, Croatia Osiguranje is noting a record amount, although the company's market share is free falling. According to the latest figures, Croatia Osiguranje's market share has shrunken to under one-third of the market.
The current year was a difficult one for the insurance industry with all insurers having recorded premium drops, but Croatia Osiguranje is steadily losing it's leading market position.
And while PM Jadranka Kosor is asking for some understanding while trying to explain that there is no money in the budget to pay out bonuses in the public sector, unions are demanding that they be paid out regardless, claiming that other state companies, including sieves, are paying out bonuses.
The unions are claiming that the postal company Hrvatske Pošte are paying out a 1,000 Kuna bonus, while the rail management company, the state's biggest money drainer which was bailed-out with 1.4 billion Kuna of tax payer money, is paying out a 2,000 Kuna Christmas bonus.
In the case of Croatia Osiguranje, it must be clear that in question is a gross bonus of 3,500 Kuna since all Christmas bonuses exceeding 2,500 Kuna in value are taxable.
