Montenegro
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Montenegro FY2023 Portfolio M N
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STATISTICS: Montenegro 2020: GRAWE and LOVCEN accounted for the largest shares
LOVCEN osiguranje - local non-life insurer owned by Slovene TRIGLAV, and GRAWE osiguranje - the Montenegrin life unit of Austrian insurance group GRAWE - are in terms of GWP, according to the year-end 2020 market statistics published by Insurance Supervision Agency of Montenegro the largest insurers in the Adriatic country.
4 February 2021Branko BARJAKTAROVIC appointed Director of the Montenegrin insurance supervising body
Branko BARJAKTAROVIC was appointed Director of the Montenegrin Insurance Supervision Agency. The appointment was decided by the Council of the Agency, on January 15, following a public competition. BARJAKTAROVIC replaces Biljana PANTOVIC, who was assigned other tasks.
28 January 2021MONTENEGRO: preliminary 2020 market results show just a 1% decrease as compared with 2019, the top record year
According the preliminary results published by the Insurance Supervision Agency of Montenegro, the local insurance market closed 2020 with GWP worth EUR 93.67 million, 1% down y-o-y, a result that the Council's President Uros ANDRIJASEVIA appreciated as very good, considering the challenges of the Covid crisis.
28 January 2021STATISTICS: MONTENEGRO, 3Q2020: Subunit decrease in GWP reported by local insurers
Montenegrin insurance market totaled EUR 71.63 million at the end of September 2020, 0.97% less y-o-y, accoring to the quarterly market data released by Insurance Supervision Agency.
5 November 2020MONTENEGRO: Rumors confirmed: GRAWE to buy majority stake in non-life insurer SWISS
ANO - The Montenegrin Insurance Supervision Agency announced that on August 26, 2020, the Council has issued the Decision on appropval to the Austrian group GRAZER Wechselseitige Versicherung Aktiengesellschaft to buy the majority stake in SWISS Insurance Company.
1 September 2020STATISTICS: MONTENEGRO, 1H2020: Insurance market remained at the 1H2019 level
Despite COVID-19 pandemic, at the end of June 2020, the Montenegrin insurance market figures published by the local Insurance Supervision Agency (ISA) reveal that the local market remained at the 1H2019 level: GWP of EUR 46.50 million vs. EUR 46.59 million at the end of June 2019.
20 August 2020STATISTICS: MONTENEGRO, 1Q2020: All market players ended the first quarter "in black"
The Montenegrin insurance market increased by 12.32% y-o-y during Q1 2020 to EUR 24.80 million, as data from the Insurance Supervisions Agency shows. The non-life insurance segment accounted for EUR 20.44 million of the total GWP, up by 9.54% on the year, while the life-insurance companies expanded by 27.44% y-o-y to EUR 4.36 million.
4 June 2020Rumors: GRAWE to expand its presence in Montenegro by acquiring non-life insurer SWISS osiguranje
Austrian insurer GRAWE, which has made in the past year a number of acquisitions in Bosnia and Herzegovina, is considering to take similar actions in Montenegro throught its local subsidiary active only in life insurance market - GRAWE osiguranje, local media informed.
3 March 2020STATISTICS: MONTENEGRO, FY2019: market expanded to almost EUR 95 million, up by 9% y-o-y
The Montenegrin market reported a 9% y-o-y growth in FY2019 GWP, to EUR 94.76 million, according to the preliminary figures published on the ISA's web-site.
13 February 2020MONTENEGRO: GWP for 11 months of 2019 exceeded GWP of the whole 2018
From January to November 2019, GWP of the Montenegrin insurance market exceeded the GWP level of the whole year 2018, as the Insurance Supervision Agency of the country announced on its website.
9 January 2020STATISTICS: MONTENEGRIN market reported double-digit increase in premiums at the end of September
In 3Q 2019, the Montenegrin insurance market totaled EUR 72.33 million, 11.52% up y-o-y, according to data published by the Insurance Supervision Agency. Compared with 3Q2018, non-life insurance premium was up by 11.31% (to EUR 60.59 million), while the life insurance GWP grew by 12.62% y-o-y (to EUR 11.73 million).
7 November 2019STATISTICS: MONTENEGRO, 1H2019: 10% increase in the market aggregate gross profit
Montenegrin insurers ended the first half of 2019 with total GWP worth EUR 46.6 million, up by almost 14% y-o-y. Both the life and non-life segments have recorded double digit growth rates.
22 August 2019STATISTICS: Montenegrin insurers' Q1 business rise 20% y-o-y
The GWP by the Montenegrin insurers totalled EUR 22.1 million in the first three months of 2019, up 20.2% on the year, the Insurance Supervision Agency of Montenegro informed.
16 May 2019STATISTICS: MONTENEGRO, 2008-2017: life insurance GWP increased by 95.5%
In 10 years, between 2008 and 2017, the insurance market in Montenegro grew by EUR 21.2 million (+35.0%) in terms of gross written premiums (GWP). More than half of the market was represented by motor insurance classes. Life insurance maintained a positive trend the whole decade.
14 March 2019STATISTICS: MONTENEGRO, FY2018: insurers FY2018 GWP - up by 6% y-o-y
The gross written premiums of Montenegrin insurers increased to EUR 86.83 million in 2018, up by 6.19% y-o-y, official figures show.
7 February 2019MONTENEGRO: Insurance market is stable and has great development prospects, as the preliminary 2018 data show
On January 30, 2019 Representatives of the Insurance Supervision Agency and the National Bureau of Montenegro Insurers (NBMI) had a meeting, during which it was agreed that the Montenegrin insurance market is stable and has great development prospects, according to the press release of the supervisor.
31 January 2019STATISTICS: MONTENEGRO, 3Q2018: GRAWE and LOVCEN lead the market rankings
During 3Q2018, the Montenegrin insurance market totaled almost EUR 65 million, a 6% increase y-o-y, as the Insurance Supervision Agency has reported.
8 November 2018STATISTICS: MONTENEGRO, 1H2018: property insurance lines have lost ground in GWP terms despite the increasing number of policies
Montenegro insurers reported GWP of EUR 41.27 million in 1H2018, up by 3.2% y-o-y. Paid claims increased at a higher pace, of 10.9%, reaching a total of EUR 17.6 million. The MTPL insurance line was the main driver in both cases.
23 August 2018MONTENEGRO's Lovcen Osiguranje completes 300,000 euro cap hike
19 June 2018MONTENEGRO's Lovcen Osiguranje completes 100,000 euro cap hike
Montenegrin insurer Lovcen Osiguranje has said it completed a 100,000 euro capital hike as part of its shareholder remuneration policy.
30 May 2018
