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.

The non-life segment contributed to the aggregate figure with GWP of EUR 106.42 million (79.3% of total GWP), while the life sector accounted for the remaining 20%, or EUR 27.7 million.

The largest non-life insurers in the country were the local units of Slovene insurers TRIGLAV and SAVA: LOVCEN Osiguranje (37.47% market share) and SAVA osiguranje (21.3%).

In case of life insurance segment, the local subsidiaries of Austrian insurers GRAWE and VIG accounted for more than two thirds of local market: WIENER STAEDITCSHE zivotno osiguranje (43.66% market share) and GRAWE osiguranje (20.83%).

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