STATISTICS: In 3Q15 MONTENEGRIN insurers issued 51,000 more contracts vs. Jan-Sep '14

Montenegrin insurance companies reported aggregate GWP of EUR 57.3 million during January-September 2015, 6.3% more y-o-y, according to the preliminary figures published on the country's Insurance Supervision Agency website. Non-life insurance premiums totaled EUR 48.5 million, up by 6.9% on the year, while the life insurance segment generated premiums of EUR 8.8 million, 4.0% more y-o-y.

In the analyzed period, the value of paid claims by insurers decreased by 2% to EUR 21.2 million, of which more than EUR 18 million were accounted by the 18th non-life sub-classes.

Compared with 3Q2014, during January-September 2015 Montenegrin insurers issued about 51,000 more policies (373,236 vs. 322,523) due the increases reported on supplementary life insurance class (~18,000 policies more), MTPL (~9,000), travel (~6,000) or accidents (~4,000).

At the same time, the eleven local insurers settled in the analyzed period about 27,062 claims (vs. 24,615 in 3Q2014), of which about 8,800 related to accidents insurance contracts, 8,100 - Motor TPL, 2,800 - health, 2,300 - Motor hull, 2,000 - life or 1,800 - property.

In terms of GWP, LOVCEN Osiguranje had the biggest market share of 44.5% in the non-life insurance segment, while GRAWE Osiguranje was the market leader in the life field with a share of 36.9%.

Access www.xprimm.com and download the 3Q2015 Montenegrin insurance market statistics.

  • Aggregate market portfolio (GWP, claims, growth rates)
  • Life & non-life rankings (GWP, growth rates, market shares)

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

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