STATISTICS: Montenegrin insurers reported doble-digit increase in first half-year business

1 September 2022 — Andrei Victor
STATISTICS: Montenegrin insurers reported doble-digit increase in first half-year business
The insurance market of Montenegro totaled EUR 54.9 million at the end of H1 2022, up by 11.9% y-o-y (or by EUR 5.9 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA).

Gross written premiums from non-life insurance represents 81.6% of total insurance market - about EUR 44.8 million, up by 12.4% y-o-y while, life business GWP was up by 9.2% y-o-y to EUR 10.1 million.

In terms of claims, total payments totaled EUR 21 million, up by 0.9% y-o-y. Life indemnities increased by 3.1% y-o-y to EUR 4.9 million, while non-life claims amounted EUR 16 million (+0.3% y-o-y).

The largest life insurer in the country was GRAWE osiguranje with a GWP volume of EUR 3.8 million and a market share of 37.2%, while LOVCEN osiguranje, a unit of Slovenian insurance group TRIGLAV, was the biggest non-life insurer with GWP of EUR 19.5 million and a market share of 43.5%.

Access xprimm.com and download the latest Montenegrin insurance market statistics.

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