Non-life insurance also performed well, GWP increasing by almost 8% y-o-y, to EUR 165 million. Motor insurance lines preserved their dominant position, with a 59% share in the market portfolio and a GWP volume of EUR 122.8 million. Out of this total, compulsory MTPL accounts for the largest part (EUR 102.45 million).
Property insurance also showed a positive change in GWP, although by only 3.4% y-o-y. A rather mild period in weather related terms resulted in an almost 11% decrease in the claims paid for property insurance, driven by the fire insurance line.
Considering the two administrative entities of Bosnia & Herzegovina, GWP by insurers domiciled in FBiH (Federation of Bosnia and Herzegovina) accounted for about 70% of the total premiums volume (EUR 146.2 million) and for approx. 75% of the paid claims (EUR 62.17 million). Insurers headquartered in FBiH are also providing for the largest part of the life insurance portfolio, generating quasi 85% of the total life insurance premiums.
In GWP terms, the top three largest insurers in the country were FBiH based insurers UNIQA osiguranje (8.8% market share), ADRIATIC osiguranje (8.66%) and SARAJEVO osiguranje (8.21%). UNIQA's accession to the top rank was the result of the 27.7% premium growth achieved on the life insurance segment, but also to an about 10% growth rate reported for the non-life lines. The company attributes the positive result to the implementation of a new strategy with a greater focus on business digitalization, as well as to the "new client portal Moja UNIQA, which allows clients easy insight into previous and currently active policies, quick online claim reporting and several status overviews."