Bosnia and Herzegovina


Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Adriatic Sea;
- Neighbours: Croatia, Serbia, Montenegro.

- hot summers and cold winters;
- areas of high elevation have short, cool summers and long, severe winters;
- mild, rainy winters along coast.

Natural hazards:

- destructive earthquakes.

Macro indicators
* 2018 estimates
Pop. density*:68.5people/km2
GDP*:16.8EUR billion

European Union:
Potential candidate

Currency: Convertible mark
Code: BAM
Since: 1998

Exchange rates:


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Bosnia 1H2020 Market Portfolio

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Bosnia 1H2020 Insurance Companies Rankings

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Latest news

BOSNIA: Krajina osiguranje gets negative audit, actuary reports

The shareholders of Banja Luka insurer Krajina osiguranje, in which the entity government of Republika Srpska (RS Equity Fund) has controlling interest, rejected the company's business report for 2010 yesterday due to a number of irregularities identified by an independent auditor.

BOSNIA: Insurers initiate measures to stabilize sector

"Insurance companies in Republika Srpska reached a unanimous agreement yesterday to suspend all direct and indirect discounts and the benefit of a free technical inspection for vehicles, in order to protect the interests of RS, its insurance companies and the insured clients", the entity Chamber of Commerce said.

BOSNIA: FBiH: BAM 710m owed for contributions

The debt for contributions which should be paid by every employer reach around BAM 710 million in Federation, the head of the entity's Pension and Disability Insurance Institute (PIO/MIO) said, on the basis of official records.

VIG now active in 25 markets. Acquisition of JAHORINA (BiH) closed

VIG announced on October 20th, 2011, that it is the new majority shareholder in the JAHORINA insurance company in the Republic of Bosnia and Herzegovina. VIG has acquired approximately 91.7% of the company's overall capital and approximately 96.6% of the voting shares in the company, which results in the entry of VIG on its 25th market. "VIENNA Insurance Group will subsequently issue a takeover bid to all remaining voting shareholders of the company in accordance with local legislation", stated the press release.

BOSNIA: Insurance companies pay BAM 25m

"Insurance companies based in Republika Srpska paid total BAM 25 million in insurance claims by the end of August, and the share of life insurance was under BAM 1 million. Automobile liability insurance claims accounted for the biggest share of payments - BAM 16.1 million.

BOSNIA: Bosnia's Republika Srpska Pension fund borrowed 35 million euros

Government of Bosnia's Republika Srpska gave approval in Tuesday for long-term debt of the Pension Fund (PIO) of this entity to 35 million euros in order to ensure full liquidity of the fund and the regular payment of pensions in the RS. Government gave full support to the implementation of the Strategy of pension and disability insurance, adopted last year, which implies the adoption of the new law about dpensions, which is expected later this year.

Insurance market in Bosnia and Herzegovina reported positive dynamics in 1H/2011

The total value of gross written premiums of insurance companies active in the two administrative entities that make up Bosnia and Herzegovina (Federation of Bosnia and Herzegovina and Republika Srpska) stood, in the first six months of this year, to EUR 128.6 million, up by 5.2% compared to January-June 2010. Also, 71% of total underwritings were made in the Federation of Bosnia and Herzegovina (FBiH), the remaining 29% being registered in Republika Sprska (RS).

BOSNIA: Jahorina osiguranje aims for top-three group

In the first half of 2011, Jahorina osiguranje paid out total BAM 3.9 million in claims, its director general Miroslav Miskic said, adding that JO expects to rank among the top three insurers in BH this year.

BOSNIA: Insurers suffocated by illegal discounts

Unfair competition is the biggest problem in BH insurance market, which is still rather underdeveloped and unregulated. This required much better control, participants of the 22nd insurance and reinsurance convention in Sarajevo.

The first private insurance company in Bosnia ended 2010 with 16% increase

The Bosnian insurance company VGT Osiguranje closed 2010 with a 16% growth in the gross underwritten premiums, in comparison with 2009. According to the company's officials, the increase is due to an operational extension in the whole country, as well as to offering more protection products for small and medium enterprises.