The insurance market of Bosnia and Herzegovina continued its ascending path during the first half of 2017, recording a 8.9% increase in GWP, to EUR 176.4 million.
Bosnian insurer Bosna Sunce Osiguranje said on Thursday its net profit leapt to 2.4 million marka (USD1.5 million/1.2 million euro) in the first six months of 2017, from 1.0 million marka in the prior-year period.
Bosnian insurer ASA Osiguranje said on Wednesday its net profit rose to 519,121 marka (265,422 euro) in the first half of 2017, from 408,714 marka in the like period of last year.
The net profit of Bosnian insurer Sarajevo Osiguranje grew to 389,900
marka (199,400 euro) in the first half of 2017 from 50,300 marka a year
earlier, the company said. Sarajevo Osiguranje's gross written premiums
rose 0.3% to 29.8 million marka in January-June, while its operating
costs dropped to 11.0 million marka from 11.4 million marka, the
insurance company said in a filing with the Sarajevo Stock Exchange on
Bosnia's competition agency said it has approved the takeover of local insurer VGT Osiguranje by Austrian peer GRAWE.
In 1Q2017 the aggregate GWP of the 27 insurers operating in Bosnia and Herzegovina was up by 11.41% y-o-y, to EUR 83.38 million (BAM 163.07 million), as the figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina show.
The EBRD is pioneering the development of private pension management in Bosnia and Herzegovina with an equity investment in the European Voluntary Pension Fund Management Company (EPF) together with Skupna pokojninska dru
The buyout bid launched by Slovenian holding company Triglav INT, a member of the country's biggest insurer Zavarovalnica Triglav, for the 12% stake it does not already own in Bosnian insurance company Triglav Osiguranje [SAJ:BHOSR] has failed, the latter said on Tuesday.
The aggregate GWP of the 27 insurers operating in Bosnia & Herzegovina increased by 6.4% y-o-y to BAM 634.1 million (EUR 324.2 million), as data from the local insurance agency - AZOBIH show.
The net profit of Bosnian insurer Sarajevo Osiguranje dropped to 55,000
marka (28,100 euro) in 2016 from 451,600 marka a year earlier, the
FBiH Government's green light for the sale of its 45.5% stake in SARAJEVO Insurance has caused an avalanche of criticism, mostly related to the target price set for the transaction.
Bosnia's Muslim-Croat Federation said it has decided to dispose of its 45.5% stake in local insurer Sarajevo Osiguranje via direct negotiations, following five failed sales attempts.
BOSNA Reinsurance dd Sarajevo gave up its stake in TRIGLAV Osiguranje dd Sarajevo, the Bosnian subsidiary of the Slovene TRIGLAV Group, reads osiguranje.hr. BOSNA Reinsurance Company sold the package of 20.28% of the shares on the Sarajevo Stock Exchange on 18 January.
Based on the figures released by AZOBIH - Insurance Agency of Bosnia and Herzegovina, at the end of September 2016 the aggregate value of GWP by the 27 insurers active in Republika Srpska and Federation of Bosnia and Herzegovina - the two administrative entities of the country, was of EUR 245.2 million, or 7.9% more y-o-y, while the value of claims paid was down by 5.2% y-o-y, to EUR 90.9 million.
The aggregate GWP value generated by the Bosnian insurers was up by 7.86% y-o-y to BAM 316.90 million (EUR 162.03 million) in the first half of 2016, according to the figures provided by the two market authorities (NADOS - Insurance Supervisory Agency of FBiH and AZORS - Insurance Agency of RS). About 71% of total GWP were made by the 12 insurance companies which are registered in the FBiH (or EUR 115 million) the remaining 29% (EUR 47 million) being reported by the 13 RS insurers.
Bosnian insurer Sarajevo Osiguranje said on Tuesday it has completed a three month restructuring process, ordered by the insurance agency of the Muslim-Croat Federation, under which it reduced the number of branch offices and employees, and cut costs.
Bosnian insurance company Krajina Osiguranje said on Tuesday it turned
to a net loss of 7.8 million marka (4 million euro) in the
first half of 2016 from a slim profit of 2,400 marka a year earlier.
The net profit of Bosnian insurer Sarajevo Osiguranje halved to 50,300 marka (25,700 euro) in the first half of 2016 from 105,000 marka a year earlier, the company said on Monday.
According to the 1Q financial figures published by the two market authorities which supervise the Bosnian insurance market (Insurance Supervisory Agency of Federation of Bosnia and Herzegovina - NADOS, and Insurance Agency of Republika Srpska - AZORS) - the local insurance industry totalled almost EUR 75 million, at the end of March 2016, representing an increase of 7% y-o-y.
The Agram concern has offered 20 million marka ($11.4 million/10.2 million euro) for 2,108,469 state-held shares in Bosnian insurer Sarajevo Osiguranje, local media reported on Thursday.