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.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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