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.

Life insurers generated about 18.82% of total insurance market or EUR 19.3 million, up by 21.92% y-o-y, while the non-life insurance segment totaled EUR 83.27 million vs. EUR 75.15 million a year before.

Two non-life business lines were the main drivers of the growth both in GWP and paid claims terms: Damages to property and Motor Hull insurance.

Wiener Staedtische zivotno osiguranje is the largest life insurer in the country (44.17% market share) followed by GRAWE (24.95%) and Lovcen-zivotna osiguranja (24.77%), while the general insurance segment is led by LOVCEN osiguranje (36.92%) SAVA (21.13%) and Uniqa nezivotno osiguranje (18.8%).

Access xprimm.com and download the latest Montenegrin insurance market statistics.