MONTENEGRO: Housing insurance business slowing down in 3Q

3 November 2011 — Daniela GHETU
Montenegrin's insurance market growth slowed down in the third quarter of 2011: after a half year 5.63% growth rate, the 3Q results show a 4.9% y-o-y nominal increase in GWP, up to EUR 49.5 million. Life insurance countinued to register a higher dynamic than the non-life sector. The most visible slowing-down may be observed on the property insurance segment. Thus, the impressive 16.50% growth rate reported in 1H 2011 nearly halved in the 3Q statistics.

LOVCEN Insurance remains the market leader on the non-life segment, with a 54% market share. The former state monopoly in insurance, currently owned by the Slovene group TRIGLAV, lost about 5 percentage points in terms of market share, due to a negative change in GWP of about 5.6%. Still, its leadership is far from being in jeopardy, as the SAVA Montenegro, the second best non-life company, only holds an almost 18% share of the market. GRAWE Insurance leads the life insurance market, holding a 53% share of the GWP.

Access www.xprimm.com and download the 3Q 2011 Montenegrin insurance market statistics.

Market portfolio:
  • Gross written premiums in European currency
Market rankings (life and non-life insurance)
  • Gross written premiums in European currency
  • Market shares 
  • Growth rates

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