Bosnia and Herzegovina


Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Adriatic Sea;
- Neighbours: Croatia, Serbia, Montenegro.

- hot summers and cold winters;
- areas of high elevation have short, cool summers and long, severe winters;
- mild, rainy winters along coast.

Natural hazards:

- destructive earthquakes.

Macro indicators
* 2018 estimates
Pop. density*:68.5people/km2
GDP*:16.8EUR billion

European Union:
Potential candidate

Currency: Convertible mark
Code: BAM
Since: 1998

Exchange rates:


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Bosnia 1Q2022 Market Portfolio

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Bosnia 1Q2022 Market Rankings

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Latest news

BiH 1H2013: 4.2% market growth fostered by the life business

The Bosnian insurance market went up by 4.23%, to almost EUR 132.65 million, in the first half of 2013, primarily as a result of an increase of over 6.36% recorded by its smaller segment, namely the insurers domiciled in the Republika Srpska (RS), according to data published by the Insurance Agency in the Republika Srpska (AZORS). At the same time, the GWP volume reported by the FBiH insurers increased slightly by 3.5% y-o-y, the Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina (NADOS) reported. In absolute terms, it is worth mentioning that half of the additional non-life premium production recorded by the entire Bosnian market in 1H2013 was provided by the RS market, while in the structure of the total premiums, the share of the 12 companies domiciled in FBiH amounted to 74.2% (EUR 98.41 million), while the 11 RS-based companies accounted for the remaining 25.8% (EUR 34.25 million).

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

BiH'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).

Unaffected by recession, the Bosnian market increased 3.5% y-o-y

In FY 2012, the total GWP of BiH insurers totaled EUR 258 million, which is 3.5% more than in FY2011. By insurance classes, "on the life segment, the premiums growth was of about 8%, while on the general insurance segment it was of nearly 2.7%," pointed out Samir OMERHODZIC, Director, Insurance Agency of Bosnia and Herzegovina (AZOBIH) at the International Insurance Forum 2013. "Analyzing the figures, we can conclude that the upward trend continued. In Bosnia, the insurance industry has not felt the impact of the recession," underlined Mr. OMERHODZIC.

BiH, 3Q2012: stable growth, in line with the first half of the year

Despite the financial crisis, Bosnia and Hergovina's insurance market remained on the growth track followed in the previous period, increasing by 2.87% y-o-y. The 25 insurers resident in BiH made in 3Q2012 a total GWP amount of EUR 195.17 million, out of which 83.84% relates to non-life insurance. Non-life insurance recorded 2% growth rate, to EUR 163.63 million, while life insurance lines grew by 7.59%, up to EUR 31.53 million. Premiums in the Federation of Bosnia and Herzegovina (FBiH) increased by 1.86%, compared to a 5.69% increase in the Republic of Srpska (RS).

BOSNIA: BOBAR Osiguranje cuts share capital

Bosnian insurer BOBAR Osiguranje has cut its core capital by BAM 1.56 million (USD 1.03 million / EUR 797.615), or by 15,581 shares, to BAM 13.4 million, the Banja Luka bourse said on Monday.

BiH: property insurance loses ground, following the 17% drop in fire insurance GWP

The Bosnian insurance market recorded an overall steady evolution in 1H2012, as compared to 1H2011. Yet, if the total GWP showed only a less than 1pp change, to EUR 127.27 million by the end of June 2012, from the EUR 126.11 million figure of 2011, a closer look reveals a different situation when considering the figures for each business line. Thus, while life insurance recorded a positive change of over 7%, on the non-life insurance lines the results were less encouraging.

BOSNIA, 1Q2012: FBiH in black, RS in red

The total premium in January-March 2012 in Bosnia & Herzegovina amounted to EUR 59.7 million, which is 0.34% less than in 1Q2011. In the structure of the total premium, the share of the companies with registered office in FBiH amounted to 75.59%, while the RS-based companies accounted for 24.41%, showed the cumulated financial figures published by Insurance Supervisory Agency of Federation of Bosnia and Herzegovina (NADOS) and Insurance Agency of Republika Srpska (AZORS).

BOSNIA: Bobar Osiguranje To Cut Capital by 12.4%

Bosnian insurance company Bobar Osiguranje said on Thursday it decided to decrease its capital by 12.4% to cover losses. Bobar Osiguranje's share capital will be cut to 13.073 million marka ($8.5 million/6.8 million euro) from 14.919 million marka, the company said in a filing with the Banja Luka Stock Exchange.

BOSNIA: UNIQA's 2011 profit in rises 15.7%

"Austrian insurance group UNIQA said its profit from ordinary activities in Bosnia and Herzegovina rose to 309,000 ($408,790) in 2011 from 267,000 a year ago.

BiH: A step closer to the EU insurance legislation compliance but further efforts still needed

"BiH is still far from achieving significant results in terms of approximation with EU standards which call for effective and uniform enforcement of single and more sophisticated rules on the entire European market for the benefit of the consumers and ensuring higher level of financial stability. Bosnia and Herzegovina and its insurance sector will also need to address these challenges", said Renzo DAVIDDI, Deputy Head of the EU Delegation to BiH on the occasion of the closing ceremony of the project "EU Support for Sustainable Capacity Building of the Insurance Agency of BiH and the FBiH and RS Insurance Supervisory Agencies", held on the 18th April 2012, in the premises of the Parliamentary Assembly of Bosnia and Herzegovina in Sarajevo.

BiH, FY2011: Life insurance gain momentum in "Austrian" style

The Bosnian insurance market finished 2011 with a positive GWP growth rate, of 3.4%, up to EUR 249.5 million. Insurers domiciled in Srpska Republic (RS) managed to place an aggregated growth rate of 7.12%, up to EUR 67.15 million GWP, while their peers registered in Federation of Bosnia & Herzegovina reported a 2.1% positive change of the written premium volume, to EUR 182.4 million. Consequently, RS insurers' weight in the overall Bosnian insurance market grew by about 1 percentage point, to almost 27%.