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STATISTICS: BiH insurers posted FY2020 subunit GWP decrease
At the end of 2020 the BiH insurance market totaled EUR 386.76 million (BAM 756.45 million), 0.83% less y-o-y, according to the YE 2020 market figures published by the local insurance agency - AZOBIH.
The value of GWP of the insurers operating in the Federation of Bosnia and Herzegovina decreased by 0.55% to EUR 270.52 million, while the Republika Srpska based insurers generated EUR 116.24 million, down by 1.48% y-o-y.
In terms of GWP, the top three largest insurers in the country were FBiH based insurers ADRIATIC osiguranje (9.13% market share), SARAJEVO osiguranje (8.60%) and EUROHERC osiguranje (8.27%).
The value of GWP of the insurers operating in the Federation of Bosnia and Herzegovina decreased by 0.55% to EUR 270.52 million, while the Republika Srpska based insurers generated EUR 116.24 million, down by 1.48% y-o-y.
In terms of GWP, the top three largest insurers in the country were FBiH based insurers ADRIATIC osiguranje (9.13% market share), SARAJEVO osiguranje (8.60%) and EUROHERC osiguranje (8.27%).
18 February 2021BOSNIA-HERZEGOVINA: A new market leader may arise after ASA Osiguranje's acquisition of the CO's previous target
The Insurance Supervision Agency of the Federation of BiH has granted approval to ASA osiguranje to buy a 86.46% stake in CENTRAL osiguranje, the acquisition previously targeted by CROATIA osiguranje, local media wrote.
21 January 2021STATISTICS: BOSNIA AND HERZEGOVINA, 3Q2020: Insurers' GWP totaled EUR 291 million at end-September
Bosnian insurers reported aggregate 3Q2020 GWP of BAM 569.13 million (~EUR 290.99 million*), according to the most recent market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
12 November 2020New Law on Compulsory Traffic Insurance adopted in the Federation of Bosnia and Herzegovina (FBiH)
A new Law on Compulsory Traffic Insurance was adopted in the Federation of Bosnia and Herzegovina (FBiH), one of the two administrative entities that form Bosnia and Herzegovina (BiH). The new Law replaces the Law on MTPL insurance from 2005.
11 November 2020Bosnia & Herzegovina joined the "License Plate Subsystem", effective starting 19 October
Starting 19 October, an international MTPL insurance policy "Green Card" policy will be not needed for vehicles registered in one of the countries of the European Economic Area to enter on the territory of Bosnia & Herzegovina (BiH), or for BiH vehicles to circulate on the roads of the EEA countries.
8 October 2020STATISTICS: BiH, 1H2020: tight competition for the market leadership; business volume only slightly affected by the Covid crisis
The first half of 2020 ended for the Bosnian insurers with total GWP of EUR 191.7 million, 2% less y-o-y, a result mainly driven by the non-life segment's decrease in premiums volume, especially on the credit insurance and Motor Hull insurance lines.
24 September 2020New leadership team at the insurers' association of Bosnia and Herzegovina
Damir HADZIC, President of the Management Board of Euroherc osiguranje dd Sarajevo, was reelected as President of the Management Board of the Association of Insurance Companies in the Federation of BiH (UDO FBiH) for the 2020-2024 term.
21 May 2020STATISTICS: BOSNIA AND HERZEGOVINA, FY2019: Insurers' GWP up by 7% y-o-y
Last year, the BiH insurance market totaled EUR 390 million (BAM 762.5 million), 7% more y-o-y, as data from the local insurance agency - AZOBIH shows.
2 April 2020DUNAV Osiguranje gives up its Bosnian life insurance business
Bosnian subsidiary of the Serbian DUNAV Osiguranje said it plans to give up its life insurance business, remaining active in non-life insurance only, reports SeeNews quoting a company document filed with the Banja Luka Exchange Stock.
12 February 2020BiH: introducing a form of compulsory insurance for residential buildings is under consideration
Establishing a national disaster insurance scheme is one of the main features of the UNDP's NAP for Bosnia & Herzegovina. Improving BiH's preparedness for dealing with Nat Cat events is instrumental considering the expected increase in flood losses and the very low current insurance coverage.
29 January 2020Two CEOs of VIG Group companies honoured as managers of the year
VIENNA Insurance Group announced two of the top women managers in the Group - Svetla NESTOROVA (Bulgaria) and Sabina MUJANOVIC (Bosnia-Herzegovina), recently received major awards for their performance in 2019.
21 January 2020BiH: Regulator temporarily suspended AURA Sarajevo MTPL license
On December 11, 2019, The Insurance Supervision Agency of the Federation of Bosnia and Herzegovina announced the temporary withdrawal of AURA license to perform MTPL business in Tuzla Canton.
17 December 2019BiH: GRAWE Banja Luka to absorb ATOS Osiguranje
At the end of November 2019, the General Meeting of Shareholders of ATOS Osiguranje passed the decision to merge with GRAWE osiguranje ad Banja Luka, the Republika Srpska branch of the Austrian insurance group, Indikator.ba reports.
3 December 2019BiH: GRAWE to acquire DUNAV's life portfolio
Bosnian branch of GRAWE, the life insurance sector leader from Bosnia and Herzegovina, will take over the life portfolio of DUNAV Osiguranje Banja Luka, the Bosnian subsidiary of Serbian market leader, CAPITAL.ba reports.
23 October 2019STATISTICS: BiH, 1H2019: paid claims for the fire insurance line increased two and a half times y-o-y
Insurers of Bosnia & Herzegovina have reported GWP worth EUR 195.7 million at the end of 1H, 6.65% more y-o-y. Life insurance recorded an above average growth rate, of 10%, which rounded its share in the market portfolio to 20%.
17 October 2019Bosnia's Krajina Osiguranje net loss widens in 2018
5 June 2019BOSNIA & HERZEGOVINA: UDOFBiH is now member of Insurance Europe
During Insurance Europe's General Assembly on 22 May 2019, the Federation announced a new member aboard: The Association of Insurance Companies in the Federation of Bosnia and Herzegovina (UDOFBiH).
30 May 2019STATISTICS: BOSNIA and HERZEGOVINA, FY2018: Insurers' GWP grew 4.4% y-o-y
Last year, the BiH insurance market totaled EUR 365 million (BAM 713 million), 4.4% more y-o-y, as data from the local insurance agency - AZOBIH shows.
11 April 2019STATISTICS: BOSNIA AND HERZEGOVINA, 2008-2017: y-o-y increases on main insurance lines, MTPL dominated the market
Bosnian insurance market grew solidly y-o-y, in terms of gross written premiums (GWP), from EUR 232 million in 2008 to EUR 349 million in 2017. Around half of premiums were brought by MTPL only. Paid claims (PC) fluctuated between EUR 95 - 136 million.
7 March 2019BOSNIA and HERZEGOVINA: New Draft Law proposed by Government will bring changes for local insurance companies
The Government of Republic of Srpska has established a Draft Law on Amendments to the Law on Insurance Companies. The proposed articles will include changes in insurers' internal organization, higher amounts of founding capital required, as well as changes in administrative procedures.
27 February 2019XPRIMM Newsletter
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