The Montenegrin market reported a 9.58% y-o-y growth in FY2022 GWP, to EUR 108.28 million, according to the preliminary figures published on the ISA's website.

The non-life segment contributed to the aggregate figure with GWP of EUR 86.91 million (80.26% of total GWP), while the life sector accounted for the remaining 20%, or EUR 21.37 million. In absolute values, the Montenegrin market was up by EUR 9.5 million, of which EUR 1.6 million was registered by Motor TPL subsegment.

The largest non-life insurers in the country were the local units of Slovene insurers TRIGLAV and SAVA: LOVCEN Osiguranje (41.43% market share) and SAVA osiguranje (20.01%).

In case of life insurance segment, the local subsidiaries of Austrian insurers GRAWE and VIG accounted for more than two thirds of local market: WIENER STAEDITCSHE zivotno osiguranje 35.50% and GRAWE osiguranje - 33.21%.

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