MONTENEGRO: GWP for 11 months of 2019 exceeded GWP of the whole 2018

9 January 2020 — Marina MAGNAVAL
From January to November 2019, GWP of the Montenegrin insurance market exceeded the GWP level of the whole year 2018, as the Insurance Supervision Agency of the country announced on its website.

Based on the preliminary data provided by the local insurance companies, total GWP for the period amounted to EUR 86.9 million, which is 9.5% more y-o-y or EUR 7.5 million higher than for the same period of 2018.

Life insurance recorded the highest nominal growth, by EUR 1.6 million (+13.5% y-o-y).

For 11 months ended, the companies with biggest shares in non-life insurance were Lovcen osiguranje (42.7%), Sava osiguranje (17.7%), Generali osiguranje Montenegro (15.6%), Uniqa nezivotno osiguranje (15.5%) and Swiss osiguranje (8.5%). The biggest contribution to the life GWP was made by Grawe osiguranje (40%), Wiener Stadtische zivotno osiguranje (27.1%), Lovcen zivotna osiguranja (21.6%) and Uniqa zivotno osiguranje (11.4%).

A complete preliminary report on the market GWP for 11 months of 2019 is available on the official website of the Insurance Supervision Agency.

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