BOSNIA: Bosna Sunce Osiguranje takes steps to acquire Zovko Osiguranje

According to the Bosnian national competition authority, insurer Bosna Sunce Osiguranje has filed a request to acquire a majority shareholding interest in its local peer Zovko Osiguranje, SeeNews reports.

The possible concentration will have an impact on the  non-life insurance market of the country as a whole, the Competition Council said in a statement on Monday.

According to data compiled by XPRIMM, after the first three quarters of 2017, Bosna Sunce had a 7.30% market share at the whole Bosnia & Herzegovina level, while Zovko Osiguranje accounted for about 2.8% of the total GWP. Both companies are domiciled in FBiH (Federation of Bosnia & Herzegovina) but are operating also in the Srpska Republic, the second administrative entity of the country. In FBiH, their market shares are of 10.54% for Bosna Sunce and 4% for Zovko Osiguranje. As compared with 3Q2016, both companies have lost some 0.5pp of their market share.

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