STATISTICS: Bosnia, 1H2017: Insurers based in Srpska Rep. increased their share to about one third of the market

The insurance market of Bosnia and Herzegovina continued its ascending path during the first half of 2017, recording a 8.9% increase in GWP, to EUR 176.4 million.

According to the preliminary market figures provided by the local insurance agency - AZOBiH, FBiH insurers' contribution amounted to EUR 123.4 million (7.3% more y-o-y, ~70% of total market), while the RS insurers accounted for the remainder EUR 53.0 million, up by 12.7% y-o-y.

"This growth was based on the growth of non-life insurance premiums of 8.5% and life insurance premium growth of 10.6% (...). Taking into consideration the overall economic situation in the country, this change, although not large, for the insurance market in Bosnia and Herzegovina is still significant", Samir OMERHODZIC, untill recently Director, Insurance Agency of Bosnia and Herzegovina told XPRIMM.

At the end of first half-year, 27 insurers operated in the Bosnian market, of which 13 were domiciled in FBiH and 14 RS-based insurers. "There were no changes in the number of insurance companies. There was a change in the ownership structure of one domestic insurance company. GRAWE Insurance, a company that has been present for many years in Bosnia and Herzegovina, has taken over 95% stake in the domestic insurer VGT", said Samir OMERHODZIC.

Find detailed 1H2017 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2017, to be launched on 22 October.

Access www.xprimm.com and download the 1H2017 Bosnia-Herzegovina insurance market statistics.

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

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