STATISTICS: BiH insurers’ 3Q2023 GWP exceeded EUR 380 million

20 November 2023 — Andrei VICTOR
STATISTICS: BiH insurers’ 3Q2023 GWP exceeded EUR 380 million

The insurance market of Bosnia and Herzegovina Q3 2023 with aggregate GWP worth BAM 744.2 million (~EUR 380.5 million) vs. BAM 668.6 million (~EUR 341.8 million) a year before, according to the January-September 2023 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.

The non-life GWP's contribution to the market portfolio was of about 80.2% (BAM 596.9 million, 12.9% more y-o-y), while the life-insurance companies contributed the remainder BAM 147.4 million, or 5.3% more y-o-y.

Total paid claims and indemnities at the entire market level totaled BAM 302.3 million (EUR 154.5 million), up by 6.7% y-o-y. Life indemnities accounted for BAM 77.2 million, while on claim files opened on non-life subclasses local insurers reported payments worth BAM 225.1 million.

FBiH insurers generated almost 70% of the total GWP (BAM 517.8 million), while insurers domiciled in Srpska Republic posted GWP worth BAM 226.4 million.

FBiH based Vienna osiguranje is the largest life insurer in the market, with a 23.9% market share followed by the FniH subsidiaries of other two „Austrians” - Uniqa osiguranje and Grawe osiguranje, while ASA osiguranje is top non-life insurer, with market share of 13.9%.

Access and download the 3Q2023 BiH insurance market statistics.