ASA Central osiguranje recorded a net profit of 4,454,816 KM in 9M2024, which is 14% more y-o-y, osiguranje.hr writes with reference to the report published on the website of Sarajevo Stock Exchange.

At the end of June 2024, the BiH insurance market totaled EUR 279 million, up by 11.6% y-o-y, as the local insurance agency – AZOBIH informed. At the same time, the value of claims paid by insurers increased by 7.74% y-o-y to EUR 110.16 million.

The net profit of insurance companies in the Republika Srpska last year amounted to 30,369,942 KM, according to the report of the Insurance Agency of Srpska, osiguranje.hr writes.

Srđan Amidžić, Minister of Finance and Treasury of Bosnia and Herzegovina, speaking at the third "Days of Insurance of the Republic Srpska" (DORS) conference noted that the insurance market participants aren’t satisfied with the current situation in the sector.

On October 22 and 23, Banja Luka will host the third "Days of Insurance of the Republic Srpska" (DORS) conference, which is a central event for experts in the field of insurance, as well as all those who want to follow the latest trends and innovations in this industry, osiguranje.hr said.

The fourth "Days of Insurance in Bosnia and Herzegovina" conference, organized by the Association of Insurance Companies in the Federation of Bosnia and Herzegovina, was held on September 26 and 27 at Hotel Hills in Ilidza.

On 5 September, the Executive Board of the Association of Insurance Companies of the Republika Srpska (RS) has requested the RS’s Insurance Agency to increase MTPL insurance premiums by 1.5%, to secure funding for the Protection Fund's central electronic records system.

The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina was accepted as a member of the International Association of Insurance Supervisors (IAIS), which is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.

Liberalization of the motor liability insurance market was discussed at the international conference "Current Issues of Civil and Commercial Legislation and Legal Practice" organized by the Faculty of Law of the University of Mostar on June 27 and 28, 2024, the Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina said.

At the end of March 2024, the BiH insurance market totaled EUR 132.7 million (BAM 259.44), up by 13.12% y-o-y, as the local insurance agency – AZOBIH informed. At the same time, the value of claims paid by insurers expanded by 9.78% y-o-y to EUR 54.49 million.

The "Days of Insurance in BiH 2024" conference will be held from September 25 to 27, 2024 in Sarajevo and will be organized by the Association of Insurance Companies in the Federation of Bosnia and Herzegovina.

Last year, the insurance market in Bosnia and Herzegovina made a slight but very significant step towards development of non-compulsory insurance.

Total GWP of insurance companies operating in the Federation of Bosnia and Herzegovina increased 14.8% y-o-y reaching BAM 118.2 million (EUR 60.4 million) in January-February 2024, SeeNews reports referring to official data.

At the end 2023, the insurance market Bosnia totaled EUR 503.1 million (BAM 984 million), 11.7% more y-o-y, according to the most recent market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina. In terms of claims paid by insurers, the overall amount was up by 7.7% y-o-y to EUR 219.6 million, of which EUR 55.5 million- life indemnities and EUR 164 million payments related to non-life claim files.

Last year in which Vienna Insurance VIG celebrated its first 20 years of business in BiH, the company was recognized as the number one life insurer in BiH.

Bosnia-based insurer Croatia osiguranje dd Mostar, a subsidiary of the Croatian insurance market leader, announced an offer to take over Croatia-Remont dd Capljina, osiguranje.hr reported. 

The Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina and the Agency for Identification Documents, Registers and Data Exchange of Bosnia and Herzegovina (IDDEEA BiH) signed an agreement on permanent access to data from the records of registered vehicles and registration documents on January 19, the regulator said on its website.

The insurance market of Bosnia and Herzegovina Q3 2023 with aggregate GWP worth BAM 744.2 million (~EUR 380.5 million) vs. BAM 668.6 million (~EUR 341.8 million) a year before, according to the January-September 2023 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

On November 1, 2023, in accordance with the Law on Compulsory Traffic Insurance, a gradual and phased deregulation of the MTPL insurance sector in the Federation of Bosnia and Herzegovina (FBiH) will come into effect, insurance companies gaining the right to apply their own MTPL tariffs with prior approval from the market authority, the Insurance Supervision Agency of the FBiH (NADOS) announced.

The third conference "Days of Insurance in Bosnia and Herzegovina" was held on September 21 and 22 in Sarajevo. The event organized by the Association of Insurance Companies in the Federation of BiH (UDOFBiH) gathered over 200 participants - domestic and foreign experts from the insurance industry.