Montenegro
MONTENEGRO: the total assets of Lovcen Osiguranje rose to EUR 82 million in 2024
The net consolidated profit of the Montenegro's top insurer Lovcen Osiguranje, part of Slovenia's Triglav Group, rose to EUR 3.96 million in 2024 from EUR 2.83 million a year earlier, SeeNews reports.
1 April 2025MONTENEGRO: III Montenegrin Insurance Days: the insurance industry plays the key role as a significant social investor
Organized by the National Insurance Bureau of Montenegro (NBOCG), the III Montenegrin Insurance Days, a conference called “Insurance continuously seeks new knowledge”, brought together more than 120 registered participants, including leading insurance experts from Montenegro, the region and Europe, the Bureau said.
1 April 2025MONTENEGRO: III Montenegrin Insurance Days to take place in March
The National Insurance Bureau of Montenegro announced III Montenegrin Insurance Days - this year’s third Conference opens its doors to all interested participants from the industry who want to stay up to date with innovations, professional educational content, who are looking for practical solutions to turbulent challenges and who want to expand their network of business contacts.
17 March 2025STATISTICS: MONTENEGRO, FY2024: paid claims increased faster than GWP
The Montenegrin market reported in FY2024 a 12.34% y-o-y growth in GWP, to EUR 134.19 million, according to the preliminary figures published on the ISA's website, while the value of paid claims &indemnities increased by 20.6% y-o-y to almost EUR 60 million.
13 February 2025MONTENEGRO: The Insurance Supervision Agency conducted a second stress test of the Montenegrin insurance sector in 2024
Bearing in mind complexity of the requirements of the Solvency II Directive and the need for a significant adjustment of the insurance sector, the Insurance Supervision Agency has started a series of activities so that the Montenegrin insurance sector is fully prepared for the full application of all requirements of Solvency II.
20 January 2025STATISTICS: MONTENEGRO, 3Q 2024: Important growth of the claims expenses driven by Motor Hull and Damages to property insurance lines
At the end of September 2024, the insurance market of Montenegro totaled EUR 102.6 million, 12.7% more y-o-y, while the value of paid claims by insurers totaled EUR 42.64 million, up by 22.84% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.
24 October 2024STATISTICS: MONTENEGRO 1H2024: substantial growth on the life insurance segment
The insurance market of Montenegro totaled EUR 68.23 million at the end of H1 2024, up by 13.95% y-o-y or by EUR 8.3 million, according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represent 81.35% of total insurance market - about EUR 55.5 million, up by 12% y-o-y while, while life business GWP was up by 23.11% y-o-y to EUR 12.7 million.
18 September 2024STATISTICS: Montenegrin insurers posted double digit increases in Q1 2024 business
According to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA), the business of Montenegrin insurers increased by 12.58% y-o-y in the first quarter of 2024, reaching EUR 34.46 million.
11 June 2024MONTENEGRO: "New Horizons of Insurance" conference took place on April 22-24, in Budva
The National Bureau of Insurers of Montenegro and the Montenegrin Actuarial Society organized the second edition of the Montenegrin Insurance Days - a conference named "New Horizons of Insurance". The event took place on April 22-24, at the Avala Hotel in Budva.
30 April 2024STATISTICS: Montenegrin insurers ended 2023 with business worth EUR 120 million
The Montenegrin market reported a 10.3% y-o-y growth in FY2023 GWP, to EUR 119.5 million, according to the preliminary figures published on the ISA's website, while the value of paid claims &indemnities increased by 9.1% y-o-y to almost EUR 50 million.
7 February 2024STATISTICS: Montenegrin market expanded to almost EUR 91 million at the end of Q3
At the end of September 2023, the insurance market of Montenegro totaled EUR 90.98 million, 9.90% more y-o-y, while the value of paid claims by insurers totaled EUR 34.68 million, up by 4.76% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.
1 November 2023MONTENEGRO: Net profit of Lovcen Osiguranje rises 73% in 9M2023
Montenegrin insurer Lovcen Osiguranje, which is among the biggest insurers in SEE and is part of the Slovenia-based Triglav Group, reported a net profit of EUR 3.3 million in the first nine months of 2023, up 73% y-o-y, SeeNews reports.
30 October 2023STATISTICS: Montenegrin insurers posted EUR 5 million y-o-y in H1 business
The insurance market of Montenegro totaled EUR 59.9 million at the end of H1 2023, up by 9.1% y-o-y (or by EUR 5 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represents 82.7% of total insurance market - about EUR 49.5 million, up by 10.7% y-o-y while, life business GWP was up by 2.4% y-o-y to EUR 10.3 million.
6 September 2023STATISTICS: Montenegrin market exceeded EUR 30 million at the end of March
The business of Montenegrin insurers increased by 13.83% y-o-y in the first quarter of 2023, reaching EUR 30.61 million, as preliminary official figures showed.
25 May 2023MONTENEGRO: 77% of GWP in life insurance generated by 3 companies with capital from Austria
"Gradual and timely alignment with EU regulations in insurance is the best way to meet the standards and requirements of the new Solvency II regulatory regime", as was emphasized at the meeting of the leadership of the Insurance Supervisory Agency (ANO) and the Austrian Financial Services Supervisory Agency (FMA).
27 April 2023STATISTICS: Montenegrin market passed the threshold of EUR 100 million in 2022
The Montenegrin market reported a 9.58% y-o-y growth in FY2022 GWP, to EUR 108.28 million, according to the preliminary figures published on the ISA's website.
15 March 2023MONTENEGRO: Lovcen Osiguranje's net profit for 9M rose 134%
Montenegrin insurer Lovcen Osiguranje reported a net profit of EUR 1.44 million in the first nine months of 2022, up 134% y-o-y, SeeNews reported.
8 November 2022STATISTICS: Montenegrin insurance market increased by over 11% during the first 9 months 2022
At the end of September 2022, the insurance market of Montenegro totaled EUR 82.79 million, 11.23% more y-o-y, while the value of paid claims by insurers totaled EUR 33.11 million, up by 7.45% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.
2 November 2022MONTENEGRO: The delegation of the Insurance Supervision Agency participated in the CESEE meeting in Vienna
The delegation of the Insurance Supervision Agency of Montenegro, led by the President of the Council, Uros Andrijasevic, visited Vienna to participate in the meeting of insurance regulators of the CESEE region (Central, Eastern and Southeastern Europe), the agency said on its website.
26 October 2022STATISTICS: Montenegrin insurers reported doble-digit increase in first half-year business
The insurance market of Montenegro totaled EUR 54.9 million at the end of H1 2022, up by 11.9% y-o-y (or by EUR 5.9 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA).
Gross written premiums from non-life insurance represents 81.6% of total insurance market - about EUR 44.8 million, up by 12.4% y-o-y while, life business GWP was up by 9.2% y-o-y to EUR 10.1 million.
Gross written premiums from non-life insurance represents 81.6% of total insurance market - about EUR 44.8 million, up by 12.4% y-o-y while, life business GWP was up by 9.2% y-o-y to EUR 10.1 million.
1 September 2022
