The Montenegrin market reported a 4.2% y-o-y growth in FY2016 GWP, to EUR 80.1 million, according to the preliminary figures published on the ISA's web-site. The non-life insurance segment had the largest contribution to the aggregate figure, reporting GWP of EUR 66.5 million (83% of total GWP), while the life sector accounted for the remaining 17%, or EUR 13.7 million.

Compared to the FY2015 figures, in absolute values, the local insurance market was up by EUR 3.2 million. The largest contribution of this figure belonged to Motor TPL (+EUR 2.3 million, or +7.1% y-o-y), life (+EUR 0.8 million, or +5.8% y-o-y) and health (+EUR 0.4 million, or +30.3%). Overall, the three mentioned classes accounted for about two-thirds of the total insurance market.

At the end of 2016, the Top 3 largest life insurers as GWP was formed by the Austrian insurers - GRAWE osiguranje, WIENER STAEDITCSHE zivotno osiguranje and MERKUR osiguranje, and accounted an aggregate market share of 75%.

On the other hand, the non-life ranking was dominated by two Slovene insurers - LOVCEN Osiguranje and SAVA Montenegro, with an aggregated market share of almost 63% of the total non-life GWP.

Access www.xprimm.com and download the FY2016 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