STATISTICS: BiH, 1H2020: tight competition for the market leadership; business volume only slightly affected by the Covid crisis

24 September 2020 — Daniela GHETU
The first half of 2020 ended for the Bosnian insurers with total GWP of EUR 191.7 million, 2% less y-o-y, a result mainly driven by the non-life segment's decrease in premiums volume, especially on the credit insurance and Motor Hull insurance lines.

In a regional approach, the market dynamics was similar in both administrative entities of Bosnia & Herzegovina. Thus, while the Federation of Bosnia & Herzegovina (FBiH) insurers have reported GWP of EUR 135 million, 2.05% down y-o-y, in Republika Srpska GWP also went down by about 2% y-o-y, to EUR 56.7 million.

Motor insurance lines maintained their dominant position in the market, in fact increasing their total market share by almost 1 percentage point, to 59.7%. The driving factor of this trend was the MTPL segment. Property insurance lines also increased their share in the market portfolio by about 1p.p., to 9.48%. The highest contribution came from the "damages to property" class for which GWP increased by 15.5%.

In the aggregate market ranking, Sarajevo Osiguranje (registered in FBiH) maintains its top market position, although with a slightly decreasing market share (9.15% in 1H2020 vs. 9.42% in 1H2019). ADRIATIC Osiguranje (FBiH) is its closest contender, with a market share of 8.84%, followed by EUROHERC Osiguranje (FBiH) with 8.20%.


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