According to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA), the business of Montenegrin insurers increased by 11% y-o-y in the first half of 2025, reaching EUR 75.78 million. Life insurance continues to hold a less than 20% share in the market portfolio, with GWP worth EUR 13.94 million. Non-life portfolio also remained almost unchanged, with only marginal alterations of the different LoBs weight in the total business. As such, mandatory MTPL insurance remained the largest LoB, accounting for 33.5% of the total GWP. The total amount of claims paid stood at EUR 28.8 million, a 6.1% increase compared to the same period of 2024. Gross technical reserves of insurance companies amounted to 220.1 million EUR, which represents 61.3% of the value of total liabilities.

The aggregate balance sheet total as of June 30, 2025, amounted to EUR 359 million, up 6.9% compared to December 31, 2024. “At the end of last year, insurance companies reported an investment of EUR 211.3 million in government bonds, which accounts for 62.9% of their assets, confirming the key role of the insurance industry as a significant social investor”, said Marko Ivanović, the President of the Council of the Insurance Supervisory Agency of Montenegro presenting an overview of the Montenegrin insurance market and highlighting continuous growth of the sector.

Access XPRIMM Database and download the Montenegrin insurance market statistics.