BiH, 1Q2013: RS based insurers pushed up the market figures

22 August 2013 — Vlad BOLDIJAR
BiH, 1Q2013: RS based insurers pushed up the market figures
bosnia-statisticsBiH's insurance market went up 3.6% to almost EUR 62 million in the first three months of 2013, primarily as a result of an increase of over 7% of insurance companies based in the Republic of Srpska (RS), the Insurance Agency of Republika Srpska (AZORS) informed. At the same time, the volume of GWP of FBiH insurers increased slightly by 2.4% y-o-y, the Insurance Supervisory Agency of Federation of Bosnia and Herzegovina (NADOS) reported. In the structure of the total premium, the share of the 12 companies domiciled in FBiH amounted to 74.7% (EUR 46 million), while the 11 RS - based companies accounted for 25.3% (almost EUR 16 million).

Of the total GWP, the life insurance segment accounts for EUR 10.7 million, while the remaining EUR 51.2 million account for non-life insurance. In terms of dynamics, non-life insurance recorded a 3.3% y-o-y increase, while life insurance showed a 5.3% growth. Motor insurance classes accounted for about 54% of the market portfolio (of which 43% related to MTPL policies) and recorded a 1.5% increase y-o-y. In case of property insurances and GTPL insurance segment, GWP recorded higher growth rates of 4.5% and 8.4%, respectively.

The total value of paid claims remained at the level of 1Q2012 (EUR 22.4 million). Paid claims for non-life insurance contracts decreased by 2.8% y-o-y to EUR 19.4 million. Motor insurance claims accounted for almost 80% (EUR 15.2 million) of the non-life insurer's expenses for claims.

On life insurance segment, MERKUR leads market, holding a 24% market share, followed by UNIQA (22%) and the FBiH based subsidiary of GRAWE (21.4%). On the non-life side, SARAJEVO leads the market ranking, with a 14.7% market share, followed by BOSNA-SUNCE (10.5%) and EUROHERC (10.3%).

Access www.xprimm.com and download the 1Q2013 Bosnia and Herzegovina insurance market statistics (in EUR and BAM).

BiH insurance market indicators (FBiH and RS insurance markets, added-up):
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)
FBiH insurance market indicators:
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)
RS insurance market indicators:
  • Market portfolio - GWP/Claims/Growth rates
  • Rankings - Total/life/non-life (GWP/Claims/Market shares/Growth rates)

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