STATISTICS: Bosnia's insurance market expanded in H1 2023 to a quarter of a billion euros

18 September 2023 — Andrei VICTOR
STATISTICS: Bosnia's insurance market expanded in H1 2023 to a quarter of a billion euros

At the end of the first half-year of 2023, the BiH insurance market totaled EUR 249.9 million (BAM 488.7 million), 9.9% more y-o-y, as statistics from the local insurance agency - AZOBIH shows.

Total paid claims and indemnities increased by 4.1% y-o-y to EUR 102.3 million, out of which EUR 75.7 million – FBiH insurers and EUR 26.6 million – RS insurers.

The GWP portfolio consisted of 20% - life insurance, the equivalent of EUR 50 million, out of which a total of EUR 43.2 million was generated by FBiH life insurers and about EUR 6.8 million by RS life insurers.

From the non-life subclasses (EUR 200 million), 9.1% of GWP corresponded to the property lines and 58.4% to motor insurance (Motor Hull and MTPL, summed). Insurers registered in FBiH generated about EUR 132 million of total non-life GWP, the remaining EUR 68 million being reported by Republika Srpska-based insurers.

The FBiH-based insurers ASA Central osiguranje (11% market share), Adriatic osiguranje (9.9%) and Uniqa osiguranje (8.4%), were the top three largest insurers in the country out of 25 market players.

Access xprimm.com and download the latest Bosnian insurance market statistics (in EUR and BAM).
 

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