Montenegro

1000px-Flag_of_Montenegro
Flag



mne_ocha_1000px
Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe, bordering the Adriatic Sea;
- Neighbours: Albania, Croatia, Bosnia and Herzegovina, Serbia, Kosovo.

Climate:
- Mediterranean climate, hot dry summers and autumns and relatively cold winters with heavy snowfalls inland.

Natural hazards:
- destructive earthquakes.

Macro indicators
* 2018 estimates
Surface:13,812km2
Population*:0.6million
Pop. density*:44.9people/km2
GDP*:4.6EUR billion
GDP/capita*:7,323.0EUR

European Union:
Official candidate

Currency: Euro
Code: EUR
- unilaterally adopted currency


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:18%
TOTAL NON-LIFE*:82%
Overall Property*:12%
Overall Motor*:50%


Sources:





 


Statistics

tari standard

Montenegro 1Q2022 Insurance Companies Rankings

tari standard

Montenegro 1Q2022 Market Portfolio


See all statistics

Latest news




STATISTICS: In 3Q15 MONTENEGRIN insurers issued 51,000 more contracts vs. Jan-Sep '14

Montenegrin insurance companies reported aggregate GWP of EUR 57.3 million during January-September 2015, 6.3% more y-o-y, according to the preliminary figures published on the country's Insurance Supervision Agency website. Non-life insurance premiums totaled EUR 48.5 million, up by 6.9% on the year, while the life insurance segment generated premiums of EUR 8.8 million, 4.0% more y-o-y.

STATISTICS: MONTENEGRO, 1H2015: Restarting growth

Judging by the first six months results, it seems that the Montenegrin insurance market is recovering in 2015, with improved dynamics on almost all business lines. Thus, after ending 2014 with a drop in GWP, in 1H2015 the overall premium volume went up by 4.8% y-o-y, to almost EUR 37 million.


STATISTICS: Montenegrin insurers Q1 GWP up 9%

The 11 Montenegrin insurers activating on the market reported aggregate gross written premiums of EUR 17.06 million for the January-March 2015 period, up from EUR 15.63 million in 1Q2014, the figures published by the country's Insurance Supervision Agency indicated.


STATISTICS: MONTENEGRIN market ended 2014 "in red", influenced by decreases in property and motor insurance

The Montenegrin insurance market totaled EUR 72.41 million at the end of 2014, 0.50% less y-o-y, according to the preliminary statistics published by the local Insurance Supervision Agency. As in the previous reporting periods, the two market segments recorded similar dynamics: Non-life insurance GWP was down by 3.31% (to EUR 59.85 million), while the total life insurance premium grew by 15.45% (to EUR 12.56 million).

MONTENEGRIN insurers' Nov gross written premiums edge up 0.4% m/m

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.

MONTENEGRO: Societe Generale Banka in bancassurance deal with Uniqa

Societe Generale Banka Montenegro said on Wednesday it has signed a deal with local non-life insurer Uniqa to enable its clients to buy insurance policies at the bank's branches. In the life insurance segment, Societe Generale Banka Montenegro partners with insurer Merkur, the lender said in a statement.


STATISTICS: MONTENEGRO 3Q2014: Slightly positive rate maintained by life insurers

In January-September 2014, the Montenegrin insurance market totaled EUR 54 million, a slight sub unitary increase of 0.4% compared to the previous year, Insurance Supervision Agency reported. Compared to 3Q2013, non-life insurance premium was down by 2.4% (to EUR 45.3 million), while the total life insurance premium grew by 17.6% (to EUR 8.6 million).

MONTENEGRO's insurance market down 1% y-o-y in H1

Montenegro's insurance market declined by 1% on the year to EUR 35.3 million in the first six months of the current year, according to data provided by the Insurance Supervision Agency (ANO). Gross written premiums from non-life insurance totaled EUR 29.4 million, down by 4.4% y-o-y and accounted for ~83.4% market share, slightly lower compared to 1H 2013 (86.3%). The premiums in the life-insurance segment increased in absolute value by almost EUR 1 million to EUR 5.9 million (up by 19.8% on the year).

MONTENEGRO, 1Q2014: Life segment won almost 4% market share

The Montenegrin insurance market totaled EUR 15.6 million at the end of March 2014, which represents a decrease of 2.6% y-o-y, according to preliminary data published by Insurance Supervision Agency. At the same time, the value of claims paid by local insurers EUR 7.1 million.


UNIQA MONTENEGRO increases market share

Uniqa Montenegro closed the third quarter of 2013 with encouraging figures. The premium volume increased by 11.2 per cent to 7.9 million euros (1-9 / 2012: 7.1 million euros). In a market characterised by stable growth, UNIQA Montenegro expanded its market share by 0.8 percentage points to 14.6 per cent (1-9 / 2012: 13.8 per cent), meaning that it ranks at fourth place on the Montenegrin insurance market.

MONTENEGRO, 3Q2013: Positive dynamics are maintained in almost all segments

In January-September 2013, the Montenegrin insurance market totaled EUR 53.6 million, 4.9% more y-o-y, according to preliminary data published by the Insurance Supervision Agency. The structure of GWP was composed of 86.4% - non-life insurance, while the share of life insurance increased from 12.6% to 13.6% - due the higher growth rate than the market average (13.6% y-o-y).

MONTENEGRO 1H2013: +4.71% y-o-y

The 1H2013 results of the Montenegrin insurance market confirmed the trends already visible by the end of 2012 and in the first quarter of 2013 - an obviously slowing growth trend on the non-life insurance segment together with a continuously improving dynamic on the life insurance lines. Thus, the overall GWP volume amounted to EUR 35.64 million, 4.71% up y-o-y, while GWP went up by 11.62% y-o-y for the life insurance segment and by only 3.7% for the non-life business lines.

MONTENEGRO 1Q2013: Beginning of 2013 confirms the trends witnessed in 2012

The 1Q2013 results of the Montenegrin insurance market confirmed the trends already visible by the end of 2012 - an obviously slowing growth trend on the non-life insurance segment together with a continuously improving dynamic on the life insurance lines. Thus, the overall GWP volume amounted to EUR 16.05 million, 2.8% up y-o-y, while GWP went up y-o-y by 10% for the life insurance segment and by only 1.7% for the non-life business lines.