The highest growth rate was reported for the property insurance lines, especially for the "damages to property" line which saw an almost 52% increase in GWP. As a result, its share in the market portfolio went up by about 3pp, to 8.26%. The "fire and allied perils" line also recorded a positive evolution, with GWP going up by 6.6% y-o-y. However, the total volume of premiums written for these business lines remains low, at EUR 10.44 million.
The motor insurance segment recorded a slightly positive evolution, GWP increasing by almost 1%. It is worth noting that this time the main growth source was the Motor Hull line, with premiums increasing by some 7%.
LOVCEN Osiguranje, SAVA Montenegro, UNIQA Non-Life are the Top 3 non-life insurers, with an aggregated market share of almost 80% of the total non-life GWP. On the life insurance side, Top 3 is formed by GRAWE, WIENER STADTISCHE Life and MERKUR, accounting for a total share of 73.3%, 1pp up y-o-y.
Access www.xprimm.com and download the FY2015 Montenegrin insurance market statistics.
Market portfolio:
- Gross written premiums
- Claims
- Growth rates
- Gross written premiums
- Market shares
- Growth rates
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