Montenegrin insurance companies posted combined gross written premiums of 6.02 million euro  in November, down from 6.0 million euro a month earlier, the country's Insurance Supervision Agency said.

Non-life insurance premiums totalled 4.973 million euro in November, up 1.4% on the month, data from the Insurance Supervision Agency of Montenegro indicated.

Lovcen Osiguranje had the biggest market share of 48.34% in the non-life insurance segment, in terms of gross premiums, followed by Sava Montenegro, Generali Osiguranje Montenegro and Uniqa nezivotno osiguranje with market shares of 16.79%, 16.55% and 16%, respectively.

In the life insurance segment combined gross written premiums stood at 1.051 million euro in November, down by 4.0% on the month.

Grawe Osiguranje is a market leader in the life-insurance segment with a share of 40.47%, followed by Merkur Osiguranje, Wiener Stadtische zivotno osiguranje and Uniqa zivotno osiguranje with market shares of 16.17%, 15.46% and 15.06%, respectively.

In 2013, gross insurance premiums in Montenegro totalled 72.8 million euro, up from 66.9 million euro a year earlier.

Eleven insurance companies operate in Montenegro. Of these, six are active in the life insurance segment. Read the full story MONTENEGRIN insurers' Nov gross written premiums edge up 0.4% m/m