The Montenegrin market reported a 5.5% y-o-y growth in FY2021 GWP, to EUR 99 million, according to the preliminary figures published on the ISA's website.

The non-life segment contributed to the aggregate figure with GWP of EUR 79 million (80% of total GWP), while the life sector accounted for the remaining 20%, or EUR 20 million. In absolute values, the Montenegrin market was up by EUR 5 million, of which EUR 2 million was registered by Motor TPL subsegment.

The largest non-life insurers in the country were the local units of Slovene insurers TRIGLAV and SAVA: LOVCEN Osiguranje (43% market share) and SAVA Montenegro (18%).

In case of life insurance segment, the local subsidiaries of Austrian insurers GRAWE and VIG accounted for more than two thirds of local market: GRAWE osiguranje - 35.4% and WIENER STAEDITCSHE zivotno osiguranje 32.3%

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