The aggregate GWP of the 11 insurance companies operating in Montenegro has increased by 3.8% y-o-y to EUR 17.4 million in Q1 2017, data from the Insurance Supervisions Agency shows.

The non-life insurance segment accounted for EUR 14.4 million of the total GWP, up by 3.3% on the year, while the life-insurance companies contributed the remainder, which was 6.7% higher y-o-y.

GRAWE osiguranje, a unit of Austrian GRAZER Wechselseitige Versicherung, was the largest life insurer - GWP of EUR 0.9 million, market share of 31%.

LOVCEN osiguranje, a unit of Slovenian insurance group TRIGLAV, was the biggest non-life insurer in Montenegro with GWP of EUR 6.7 million, up by 8.1% on the year, and a market share of 46.2%.

Access www.xprimm.com and download the 1Q2017 Montenegrin insurance market statistics.

Market portfolio:

• Gross written premiums
• Claims
• Growth rates

Market rankings (Life and non-life insurance):

• Gross written premiums
• Market shares 
• Growth rates