STATISTICS: BiH insurers' 9 months business extended by 8.15% y-o-y

24 November 2022 —
STATISTICS: BiH insurers' 9 months business extended by 8.15% y-o-y
The insurance market of Bosnia and Herzegovina ended the first nine months of the current year with aggregate gross written premiums worth BAM 668.66 million (~EUR 341.88 million) vs. BAM 618.26 million (~EUR 316.11 million) a year before, according to the January-September 2022 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

FBiH insurers generated almost 70% of the total GWP (BAM 467.21 million), while insurers domiciled in Srpska Republic posted GWP worth BAM 201.45 million.

Of total GWP, the non-life sector's contribution to the market portfolio was of about 79.07% (BAM 528.73 million, 7.39% more y-o-y), while the life-insurance companies contributed the remainder BAM 139.93 million, or 11.12% more y-o-y.

In terms of insurance payments, total paid claims and indemnities at the entire market level totaled BAM 283.16 million (EUR 144.78 million), up by 16.72% y-o-y. Life indemnities accounted for BAM 75.26 million, while on claim files opened on non-life subclasses local insurers reported payments worth BAM 207.90 million.

FBiH based UNIQA Osiguranje is the largest life insurer in the market, with a 23.27% market share, while Adriatic Osiguranje is top non-life insurer, with market share of 10.46%.

Access and download the 3Q2022 BiH insurance market statistics.