MONTENEGRO, 1Q2014: Life segment won almost 4% market share

12 June 2014 — Vlad BOLDIJAR
montenegro-statisticsThe Montenegrin insurance market totaled EUR 15.6 million at the end of March 2014, which represents a decrease of 2.6% y-o-y, according to preliminary data published by Insurance Supervision Agency. At the same time, the value of claims paid by local insurers EUR 7.1 million.

As in previous reporting periods, the premiums portfolio was characterized by a dominant share of non-life insurance (~83%), among which the largest share belonged to compulsory MTPL insurance (40% of the total market).

The share of life insurance increased to 16.7%, due the more than 22% growth of life insurance premiums and due the 6.5% decrease of non life segment.

On the Montenegrin insurance market, eleven insurance companies were active in the analyzed period. Six insurance companies perform only life insurance operations and five companies activate only on the non-life segment.

On the life segment the market leader was GRAWE (33.9% market share), while on the non-life segment, the largest share with 41.3% belongs to LOVCEN Osiguranje.

Access www.xprimm.com and download the 1Q2014 Montenegrin insurance market statistics.

Market portfolio:
  • Gross written premiums
  • Claims
  • Growth rates
Market rankings (Life and non-life insurance):
  • Gross written premiums
  • Market shares 
  • Growth rates
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