STATISTICS: BiH, 1Q2018: MTPL business keeps the market on a positive trend

Bosnian insurers reported aggregate 1Q2018 GWP of BAM 167.07 million (~EUR 85.4 million), up by 2.45% y-o-y, according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

The non-life sector's contribution to the market portfolio was of about 79.8% of total GWP - EUR 68.2 million, up by 2.76% y-o-y, while the life-insurance companies contributed the remainder, which was 1.25% higher than in the first three months of 2017.

The MTPL insurance3 line was the only one recording a significant growth, while most of the other classes have seen modest positive results or even a decrease in the business volume. In fact, the growth recorded in the MTPL GWP exceeded, in absolute terms, the market growth (EUR 2.22 million vs. EUR 2.04 million). At the opposite pole, property insurance saw the most significant decrease in absolute terms, especially on the fire insurance class which saw an almost 11% fall in GWP (EUR 0.55 million decrease). The negative trend in underwriting is all the more significant as it overlaps with an over 50% increase in the paid claims for property insurance.

FBiH insurers have provided for almost 70% of the total GWP and recorded a better consolidated dynamic than insurers domiciled in Srpska Republic.

Uniqa Osiguranje leads the life insurance market, with a 26.2% market share while Adriatic Osiguranje and Euroherc are the top two non-life insurers, with market share of about 10% each. In fact, in comparison with 1Q2017, Adriatic Osiguranje gained about 2.5 pp in market share, thus putting an end to Euroherc's leadership.

Access www.xprimm.com and download the 1Q2018 Bosnia-Herzegovina insurance market statistics.

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

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