Bosnia and Herzegovina: In the first two months of the year the Federation insurance market goes up almost 15%

19 March 2024 — Marina MAGNAVAL
Total GWP of insurance companies operating in the Federation of Bosnia and Herzegovina increased 14.8% y-o-y reaching BAM 118.2 million (EUR 60.4 million) in January-February 2024, SeeNews reports referring to official data.

Non-life segment rose 20% to BAM 96 million in the first two months, while life segment went down 3.3% to BAM 22.1 million, according to the Federation’s insurance supervision agency.

ASA Central Osiguranje leads the non-life segment with GWP worth BAM 15.4 million (vs BAM 11.4 million a year earlier), followed by Adriatic Osiguranje and Sarajevo Osiguranje, with BAM 12.8 million and BAM 12.4 million, respectively.

The leader of the life insurance segment is Grawe Osiguranje with BAM 5 million in premiums (down from BAM 5.6 million in the same period of 2023), followed by Vienna Osiguranje and Uniqa Osiguranje, with life GWP of BAM 4.9 million and BAM 4.7 million, respectively.

At the end of February, 19 insurance companies operated in Bosnia’s Federation, the source said.

*EUR 1 = BAM 1.956