STATISTICS: MONTENEGRO, 1H2020: Insurance market remained at the 1H2019 level

20 August 2020 — Andrei Victor
Despite COVID-19 pandemic, at the end of June 2020, the Montenegrin insurance market figures published by the local Insurance Supervision Agency (ISA) reveal that the local market remained at the 1H2019 level: GWP of EUR 46.50 million vs. EUR 46.59 million at the end of June 2019.

Gross written premiums from non-life insurance represented 80.42% of Montenegrin's insurance market - about EUR 37.39 million, an decrease of 3.83% y-o-y. On the other hand, life business GWP was up by 18.08% y-o-y to EUR 9.11 million.

According to the Montenegrin ISA'a figures, in terms of GWP, the largest decreases were reported on Motor insurance lines (-19.82% y-o-y in case of MoD, while MTPL decreased by -6.66% y-o-y), accident (-13.23% y-o-y) and health (-5.89% y-o-y).

GRAWE osiguranje, a unit of Austrian GRAZER Wechselseitige Versicherung, was the largest life insurer operating on the market, with a GWP volume of EUR 3.19 million and a market share of 35.03%.

LOVCEN osiguranje, a unit of Slovenian insurance group TRIGLAV, was the biggest non-life insurer in Montenegro with GWP of EUR 15.99 million and a market share of 42.76%.

Access and download the latest Montenegrin insurance market statistics.
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