The insurance market of Montenegro totaled EUR 59.9 million at the end of H1 2023, up by 9.1% y-o-y (or by EUR 5 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represents 82.7% of total insurance market - about EUR 49.5 million, up by 10.7% y-o-y while, life business GWP was up by 2.4% y-o-y to EUR 10.3 million.

The business of Montenegrin insurers increased by 13.83% y-o-y in the first quarter of 2023, reaching EUR 30.61 million, as preliminary official figures showed.

"Gradual and timely alignment with EU regulations in insurance is the best way to meet the standards and requirements of the new Solvency II regulatory regime", as was emphasized at the meeting of the leadership of the Insurance Supervisory Agency (ANO) and the Austrian Financial Services Supervisory Agency (FMA).

The Montenegrin market reported a 9.58% y-o-y growth in FY2022 GWP, to EUR 108.28 million, according to the preliminary figures published on the ISA's website.

Montenegrin insurer Lovcen Osiguranje reported a net profit of EUR 1.44 million in the first nine months of 2022, up 134% y-o-y, SeeNews reported.

At the end of September 2022, the insurance market of Montenegro totaled EUR 82.79 million, 11.23% more y-o-y, while the value of paid claims by insurers totaled EUR 33.11 million, up by 7.45% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.

The delegation of the Insurance Supervision Agency of Montenegro, led by the President of the Council, Uros Andrijasevic, visited Vienna to participate in the meeting of insurance regulators of the CESEE region (Central, Eastern and Southeastern Europe), the agency said on its website.

The insurance market of Montenegro totaled EUR 54.9 million at the end of H1 2022, up by 11.9% y-o-y (or by EUR 5.9 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA).

Gross written premiums from non-life insurance represents 81.6% of total insurance market - about EUR 44.8 million, up by 12.4% y-o-y while, life business GWP was up by 9.2% y-o-y to EUR 10.1 million.

Insurance Supervision Agency of Montenegro and the Austrian Financial Markets Regulatory Authority (FMA) signed a memorandum, the agency said on its website.

The gross written premiums of Montenegrin insurers increased by 12.80% y-o-y in the first quarter of 2022, reaching EUR 26.89 million, as preliminary official figures showed.

The Montenegrin market reported a 5.5% y-o-y growth in FY2021 GWP, to EUR 99 million, according to the preliminary figures published on the ISA's website.

The Council of the Insurance Supervision Agency adopted a Decision on the amount of regular contribution to the Guarantee Fund for 2022, osiguranje.hr wrote.

Montenegrin insurance market totaled EUR 74.43 million at the end of September 2021, 3.91% more y-o-y, accoring to the quarterly market data released by Insurance Supervision Agency.

At the end of June 2021, the Montenegrin insurance market totaled EUR 49 million, about EUR 2.5 million more vs. H1 2020 aggregate market GWP, according to the latest figures published by the local Insurance Supervision Agency (ISA).

Starting 2 August 2021, vehicles registered in Montenegro and the UK, except for the military ones, will no longer be checked for the existence of a valid MTPL insurance when crossing the borders of EU states, the recently adopted Implementing Decision of the European Commission no. 2021/1145 of 30.6.2021 provides.

The gross written premiums of Montenegrin insurers decreased by 3.85% y-o-y in the first quarter of 2021, reaching EUR 23.84 million, as preliminary official figures showed.

Montenegrin smallest non-life insurer SWISS Osiguranje officially renamed into GRAWE nezivotno osiguranje, according to a notice published on 27 January 2020 on the Montenegro Stock Exchange website.

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.

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.

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.