The gross written premiums of Montenegrin insurers decreased by 3.85% y-o-y in the first quarter of 2021, reaching EUR 23.84 million, as preliminary official figures showed.

Gross written premiums from non-life insurance totaled EUR 19.86 million in January-March 2021, down by 3.30% y-o-y, while the life insurance GWP totaled EUR 4.08 million, was down by 6.40%, according to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA).

Total gross claims paid increased by almost 12% to EUR 10.13 million, as follows:

• Life indemnities increased by 51.37% y-o-y to EUR 2.17 million
• Non-life payments increased by 4.31% y-o-y to EUR 7.97 million

The statistics published by Montenegrin ISA comprises data from nine insurance companies operating in the country: four life and five non-life insurers.

Access XPRIMM Database and download the Q12021 Montenegrin insurance market statistics.