STATISTICS: MONTENEGRO, FY2019: market expanded to almost EUR 95 million, up by 9% y-o-y

13 February 2020 — Andrei Victor
The Montenegrin market reported a 9% y-o-y growth in FY2019 GWP, to EUR 94.76 million, according to the preliminary figures published on the ISA's web-site.

The non-life segment contributed to the aggregate figure with GWP of EUR 77.63 million (81.92% of total GWP), while the life sector accounted for the remaining 18.08%, or EUR 17.13 million.

In absolute values, the Montenegrin market was up by EUR 7.93 million. The largest contribution of this figure belonged to Property (+EUR 1.48 million, or +2% y-o-y), Motor TPL (+EUR 1.23 million, or +3.51% y-o-y), life insurance (+EUR 1.90 million, or +12.50% y-o-y) and MoD (+EUR 0.64 million, or +3.82%).

Non-life ranking was dominated by the two Slovene insurers - LOVCEN Osiguranje (42.65% market share) and SAVA Montenegro (17.72%) followed by UNIQA nezivotno osiguranje (15.85%).

Top 3 largest life insurers in the country as GWP were GRAWE osiguranje, WIENER STAEDITCSHE zivotno osiguranje and LOVCEN zivotna osiguranje, and accounted an aggregate market share of 88.83%.

Access and download the latest Montenegrin insurance market statistics.

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