Bosnia and Herzegovina
Bosnia and Herzegovina: The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina accepted as a member of the IAIS
The Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina was accepted as a member of the International Association of Insurance Supervisors (IAIS), which is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.
15 August 2024Bosnia and Herzegovina: a phased approach is necessary for liberalization of the motor liability insurance market
Liberalization of the motor liability insurance market was discussed at the international conference "Current Issues of Civil and Commercial Legislation and Legal Practice" organized by the Faculty of Law of the University of Mostar on June 27 and 28, 2024, the Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina said.
2 July 2024STATISTICS: Bosnia Q1 market expanded to over EUR 130 million
At the end of March 2024, the BiH insurance market totaled EUR 132.7 million (BAM 259.44), up by 13.12% y-o-y, as the local insurance agency – AZOBIH informed. At the same time, the value of claims paid by insurers expanded by 9.78% y-o-y to EUR 54.49 million.
20 June 2024Bosnia and Herzegovina: Save the date: The "Days of Insurance in BiH 2024" conference will be held in September
The "Days of Insurance in BiH 2024" conference will be held from September 25 to 27, 2024 in Sarajevo and will be organized by the Association of Insurance Companies in the Federation of Bosnia and Herzegovina.
30 May 2024Bosnia and Herzegovina: Dudo: Bosnia and Herzegovina is seeing growth in non-compulsory insurance
Last year, the insurance market in Bosnia and Herzegovina made a slight but very significant step towards development of non-compulsory insurance.
23 April 2024Bosnia and Herzegovina: In the first two months of the year the Federation insurance market goes up almost 15%
Total GWP of insurance companies operating in the Federation of Bosnia and Herzegovina increased 14.8% y-o-y reaching BAM 118.2 million (EUR 60.4 million) in January-February 2024, SeeNews reports referring to official data.
19 March 2024STATISTICS: Bosnia insurance market exceeded the EUR half billion threshold during 2023
At the end 2023, the insurance market Bosnia totaled EUR 503.1 million (BAM 984 million), 11.7% more y-o-y, according to the most recent market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina. In terms of claims paid by insurers, the overall amount was up by 7.7% y-o-y to EUR 219.6 million, of which EUR 55.5 million- life indemnities and EUR 164 million payments related to non-life claim files.
26 February 2024BiH: Vienna Insurance VIG recognized as the number one life insurer in Bosnia and Herzegovina in 2023
Last year in which Vienna Insurance VIG celebrated its first 20 years of business in BiH, the company was recognized as the number one life insurer in BiH.
31 January 2024Bosnian unit of Croatia osiguranje announced an offer to take over Croatia-Remont
Bosnia-based insurer Croatia osiguranje dd Mostar, a subsidiary of the Croatian insurance market leader, announced an offer to take over Croatia-Remont dd Capljina, osiguranje.hr reported.
25 January 2024BiH: IDDEEA BiH and Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina signed an agreement on access to data
The Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina and the Agency for Identification Documents, Registers and Data Exchange of Bosnia and Herzegovina (IDDEEA BiH) signed an agreement on permanent access to data from the records of registered vehicles and registration documents on January 19, the regulator said on its website.
23 January 2024STATISTICS: BiH insurers’ 3Q2023 GWP exceeded EUR 380 million
The insurance market of Bosnia and Herzegovina Q3 2023 with aggregate GWP worth BAM 744.2 million (~EUR 380.5 million) vs. BAM 668.6 million (~EUR 341.8 million) a year before, according to the January-September 2023 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
20 November 2023MTPL insurance market’s deregulation starts in FBiH, one of the two administrative entities of Bosnia & Herzegovina
On November 1, 2023, in accordance with the Law on Compulsory Traffic Insurance, a gradual and phased deregulation of the MTPL insurance sector in the Federation of Bosnia and Herzegovina (FBiH) will come into effect, insurance companies gaining the right to apply their own MTPL tariffs with prior approval from the market authority, the Insurance Supervision Agency of the FBiH (NADOS) announced.
1 November 2023BiH: Conference "Days of Insurance in BiH 2023" - despite the challenges, the insurance sector is recording continuous growth
The third conference "Days of Insurance in Bosnia and Herzegovina" was held on September 21 and 22 in Sarajevo. The event organized by the Association of Insurance Companies in the Federation of BiH (UDOFBiH) gathered over 200 participants - domestic and foreign experts from the insurance industry.
25 September 2023BiH: increasing MTPL tariffs gives rise to a schism between NADOS and the Ministry of Communications and Transport of Bosnia and Herzegovina
On 16 September, the provisions of NADOS’s Decision on amendments to the Decision on the method of determining the premium tariff and price list for MTPL insurance, entered in into force in the FBiH leading to an increase in the basic premium from 396 KM to 420.55 KM.
21 September 2023STATISTICS: Bosnia's insurance market expanded in H1 2023 to a quarter of a billion euros
At the end of the first half-year of 2023, the BiH insurance market totaled EUR 249.9 million (BAM 488.7 million), 9.9% more y-o-y, as statistics from the local insurance agency - AZOBIH shows.
18 September 2023Bosnia and Herzegovina: In January-May the Federation insurance market goes up 8.6%
In January-May 2023 total GWP of insurance companies operating in Bosnia and Herzegovina's Federation increased 8.6% to BAM 272.7 million (EUR 139.4 million), SeeNews reports referring to official data.
15 June 2023STATISTICS: Bosnia Q1 2023: BiH insurers accounted for more than 70% of overall market
At the end of March 2023, the BiH insurance market totaled EUR 117.27 million (BAM 229.35 million), 9.32% more y-o-y, according to the quarterly market figures published by the local insurance agency - AZOBIH.
7 June 2023STATISTICS: Bosnian insurers business expanded to over EUR 450 million in 2022
At the end of last year, the insurance market Bosnia totaled EUR 450.5 million (BAM 881 million), 7.7% more y-o-y, according to the Q4 2022 market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina.
23 March 2023Bosnia and Herzegovina: application of the IFRS 17 extended until 01.01.2026
The Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina in January 2023 held a meeting with the management of (re)insurance companies, where it was pointed out that in 2022 life and non-life insurance registered an increase, the insurance market is still dominated by motor insurance and that the market can be considered as also stable and sustainable.
7 February 2023Bosnia: The merger ASA-Central osiguranje will create the largest insurer in the country
At the end of the year, Bosnian insurers ASA Osiguranje and Central osiguranje will be officially merged, local media informed. The merger will create the largest insurer in the country with more than 11% market share.
12 December 2022
