STATISTICS:

STATISTICS: BOSNIA, 1H2014: Spring floods tripled the claims paid for property insurance

The Bosnian insurance market remained on track during the first half of 2014 and reported GWP of EUR 144.8 million, 9.2% up y-o-y. On the other hand, insurers' balance was significantly affected by the damage caused by catastrophic flooding during this spring as the paid claims volume rose by about 27%, up to EUR 61 million.

Life insurance lines went up by 21.8% in GWP terms, to EUR 28 million. Thus, the life business currently accounts for about 19% of the market portfolio. MERCUR BH and UNIQA are holding the largest shares in the total life premium production, together accounting for about 50% of the life GWP.

Except for Motor Hull which saw a 2% decrease in premium, all non-life insurance lines recorded a positive evolution. All in all, non-life GWP grew by 6.5% y-o-y, to almost EUR 117 million. The most significant growth rate was recorded by the property insurance segment (13.8% up y-o-y), especially by the "damages to property" line, for which GWP volume rose by almost 20%. However, the property segment also saw a triple sized claims volume as compared with the previous year. As the northern part of the country was the worst hit by the floods, insurers domiciled in Republika Srpska were affected the most, with claims for property insurance amounting to EUR 9 million (1,770% up y-o-y) and GWP of EUR 5.35 million.

Still, motor insurance lines continued to generate over 55% of the market GWP and also about 55% of the claims paid. The MTPL line recorded a positive evolution, with GWP amounting to EUR 66 million (up 6.3% y-o-y).

SARAJEVO, EUROHERC and BOSNA-SUNCE, all three domiciled in FBiH, are top Top 3 non-life insurance, with a total market share of 34%.

Access www.xprimm.com and download the 1H2014 Bosnian insurance market statistics.

BiH insurance market indicators (FBiH and RS insurance markets, added-up):
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)
FBiH insurance market indicators:
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)
RS insurance market indicators:
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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