Bosnia and Herzegovina: ASA and Central Insurance to become a leader in the insurance market after merging

4 July 2022 — Marina MAGNAVAL
The merger of ASA and Central Insurance, both domestic and fast-growing insurance companies, will result in a leading position on the Bosnian insurance market for ASA Central Osiguranje, the insurer said.

"According to the carefully chosen merger strategy, both companies will be equally represented in everything, which entails rebranding of each and finding special fundamental points and common denominators on which the two companies will equally connect. By developing existing sales channels and insurance products, creating new ones, expanding business to include life insurance, and digitalizing business processes, we want to become synonymous with modern society and offer top-notch service. ASA Central Osiguranje will be a company whose fundamental values are a fair way of doing business, a sense of belonging to the organization, mutual respect, and a high work ethic", said Zeljko PERVAN, Member of the Central Insurance Company Management Board.

For the first five months of 2022, ASA Osiguranje had a growth rate of 113.3%, while Central Insurance's growth rate was 107.3%. With the merger, their consolidated premium volume will outperform all other market participants.

"The merger does not erase identity of either company, but preserves the values of both companies, Central Insurance and ASA Osiguranje. Using our own potential, strength of the group, modern management methods, we want to become and remain a leader in the insurance market. Dealing with trends on the market and in society, by continuous investment in education and development at all levels and by creating an atmosphere of trust and fairness, we create a better environment within our merged company", said the President of the Management Board of ASA Osiguranje Adnan HODZIC.

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