In January-September 2012, the gross premium written by the Montenegrin insurers amounted to EUR 51.1 million, slightly increasing by 4.18% in relation to the previous year, Insurance Supervision Agency reported. Compared to 3Q2011, non-life insurance premium grew by 4.3% (to EUR 44.7 million), the while the total life insurance premium grew by 3.28% (to EUR 6.4 million).Similar to the previous periods, non-life premium had a dominant presence in the market portfolio. Thus, by the end of September the share of non-life insurance amounted to 87.41%, while the share of life insurance slightly declined from 12.70% in 3Q2011 to 12.59% in January-September 2012.
As far as the non-life segment is concerned, the overall motor insurance GWP (Motor hull and MTPL, summed) increased in relation to 3Q2011 by 2.89%, which is mostly the result of the appreciation of MTPL by 3.76%. At the same time, the accident insurance premiums grew by 10.39%. Regarding the class of life insurance, the greatest premium growth was generated by additional insurance with life insurance by 4.19%.
In life insurance segment, the largest share of 48.39% (EUR 3.11 million) was generated by GRAWE Insurance, which is by 4.34% lower to the previous year, when it amounted to 52.72% (EUR 3.29 million), while in non-life, the market leader with the greatest written gross premium was LOVCEN Insurance: market share of 46.83% (EUR 20.92 million) in 3Q2012 which is by 7.83% lower in relation to 2011.
Access www.xprimm.com and download the 3Q2012 Montenegrin insurance market statistics.
Market portfolio:
- Gross written premiums
- Growth rates
- Gross written premiums
- Market shares
- Growth rates
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