A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" of Bosna Reosiguranje d.d. Sarajevo (Bosna Re) (Bosnia and Herzegovina [BH]). The outlook of these Credit Ratings (ratings) remains stable.
The Bosnian subsidiary of Austrian insurer GRAWE (GRAWE osiguranje) finalized the absorption of local non-life insurer VGT osiguranje, according to the latest registered operations by RVP - The Registry of Securities of the Federation Bosnia and Herzegovina.
The net profit of Bosnian insurer Sarajevo Osiguranje increased to 258,546 marka (132,193 euro) in 2017, from 55,032 marka a year earlier, the company said.
The House of Representatives of the Parliament of FBiH, one of the two administrative entities that form Bosnia & Herzegovina has approved this week the new law on compulsory MTPL, taking thus a big step towards the a free MTPL market.
Last year, the aggregate GWP of the 27 Bosnian insurers increased by 7.77% y-o-y to BAM 683.23 million (EUR 349.33 million), as data from the local insurance agency - AZOBIH show.
At the beginning of the year, Adriatic Insurance Company has lost its leading position on the market.
Bosnia's Competition Council said it has approved the acquisition of a majority shareholding interest in local insurer Zovko Osiguranje by its peer Bosna Sunce Osiguranje.
Bosnian insurer Bosna Sunce Osiguranje said on Wednesday it will absorb its local peer Zovko Osiguranje after acquiring a 100% shareholding interest in the company.
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 27 Bosnian insurers reported aggregate 3Q2017 GWP of BAM 518.2 million (~EUR 265 million), up by 8.1% y-o-y, according to the most recent market figures published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
The net profit of Bosnian insurer ASA Osiguranje increased to 776,399 marka in the first nine months of 2017, from 608,804 marka in the prior-year period, the company said on Monday.
The insurance market of Bosnia and Herzegovina continued its ascending path during the first half of 2017, recording a 8.9% increase in GWP, to EUR 176.4 million.
Bosnian insurer Bosna Sunce Osiguranje said on Thursday its net profit leapt to 2.4 million marka (USD1.5 million/1.2 million euro) in the first six months of 2017, from 1.0 million marka in the prior-year period.
Bosnian insurer ASA Osiguranje said on Wednesday its net profit rose to 519,121 marka (265,422 euro) in the first half of 2017, from 408,714 marka in the like period of last year.
The net profit of Bosnian insurer Sarajevo Osiguranje grew to 389,900
marka (199,400 euro) in the first half of 2017 from 50,300 marka a year
earlier, the company said. Sarajevo Osiguranje's gross written premiums
rose 0.3% to 29.8 million marka in January-June, while its operating
costs dropped to 11.0 million marka from 11.4 million marka, the
insurance company said in a filing with the Sarajevo Stock Exchange on
Bosnia's competition agency said it has approved the takeover of local insurer VGT Osiguranje by Austrian peer GRAWE.
In 1Q2017 the aggregate GWP of the 27 insurers operating in Bosnia and Herzegovina was up by 11.41% y-o-y, to EUR 83.38 million (BAM 163.07 million), as the figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina show.
The EBRD is pioneering the development of private pension management in Bosnia and Herzegovina with an equity investment in the European Voluntary Pension Fund Management Company (EPF) together with Skupna pokojninska dru
The buyout bid launched by Slovenian holding company Triglav INT, a member of the country's biggest insurer Zavarovalnica Triglav, for the 12% stake it does not already own in Bosnian insurance company Triglav Osiguranje [SAJ:BHOSR] has failed, the latter said on Tuesday.