Location map
author: OCHA/ ReliefWeb

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

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

Natural hazards:
- destructive earthquakes.

Macro indicators
* 2018 estimates
Pop. density*:44.9people/km2
GDP*:4.6EUR billion

European Union:
Official candidate

Currency: Euro
Code: EUR
- unilaterally adopted currency

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:50%




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Montenegro 3Q2022 Market Portfolio

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Montenegro 3Q2022 Insurance Companies Rankings

See all statistics

Latest news

STATISTICS: Montenegrin insurers reported doble-digit increase in first half-year business

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.

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.

STATISTICS: 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.