BOSNA Reinsurance dd Sarajevo gave up its stake in TRIGLAV Osiguranje dd Sarajevo, the Bosnian subsidiary of the Slovene TRIGLAV Group, reads osiguranje.hr. BOSNA Reinsurance Company sold the package of 20.28% of the shares on the Sarajevo Stock Exchange on 18 January.
Based on the figures released by AZOBIH - Insurance Agency of Bosnia and Herzegovina, at the end of September 2016 the aggregate value of GWP by the 27 insurers active in Republika Srpska and Federation of Bosnia and Herzegovina - the two administrative entities of the country, was of EUR 245.2 million, or 7.9% more y-o-y, while the value of claims paid was down by 5.2% y-o-y, to EUR 90.9 million.
The aggregate GWP value generated by the Bosnian insurers was up by 7.86% y-o-y to BAM 316.90 million (EUR 162.03 million) in the first half of 2016, according to the figures provided by the two market authorities (NADOS - Insurance Supervisory Agency of FBiH and AZORS - Insurance Agency of RS). About 71% of total GWP were made by the 12 insurance companies which are registered in the FBiH (or EUR 115 million) the remaining 29% (EUR 47 million) being reported by the 13 RS insurers.
Bosnian insurer Sarajevo Osiguranje said on Tuesday it has completed a three month restructuring process, ordered by the insurance agency of the Muslim-Croat Federation, under which it reduced the number of branch offices and employees, and cut costs.
Bosnian insurance company Krajina Osiguranje said on Tuesday it turned
to a net loss of 7.8 million marka (4 million euro) in the
first half of 2016 from a slim profit of 2,400 marka a year earlier.
The net profit of Bosnian insurer Sarajevo Osiguranje halved to 50,300 marka (25,700 euro) in the first half of 2016 from 105,000 marka a year earlier, the company said on Monday.
According to the 1Q financial figures published by the two market authorities which supervise the Bosnian insurance market (Insurance Supervisory Agency of Federation of Bosnia and Herzegovina - NADOS, and Insurance Agency of Republika Srpska - AZORS) - the local insurance industry totalled almost EUR 75 million, at the end of March 2016, representing an increase of 7% y-o-y.
The Agram concern has offered 20 million marka ($11.4 million/10.2 million euro) for 2,108,469 state-held shares in Bosnian insurer Sarajevo Osiguranje, local media reported on Thursday.
The Insurance Agency of Bosnia's Serb Republic said on Wednesday that it
has instated an interim administrator at local insurer Krajina
Osiguranje for a period of three months. All insurance contracts signed
with Krajina Osiguranje, remain valid, the agency said in a statement on
Total number of road motor vehicles registered in Bosnia and Herzegovina last year amounts to 952.590. Of
the total number of registered vehicles in 2015, 87 percent are
passenger vehicles, eight percent are freight vehicles, three percent
are trailers, while the remaining two percent are other categories of
The Bosnian unit of Austrian insurance group UNIQA said on Thursday its
net profit doubled to 1.8 million marka (920,300 euro) in 2015.
The privatization plan of FBiH in this year includes the following
economy societies: Energopetrol JSC Sarajevo, Energoinvest JSC Sarajevo,
Aluminij JSC Mostar, Tobacco Factory Sarajevo JSC Sarajevo, and the
Sarajevo osiguranje JSC Sarajevo, it was stated from the Cabinet of the
Prime Minister of FBiH Fadil Novalic.
The Bosnian insurance market saw a 4.7% y-o-y growth, to GWP of EUR 301 million, while paid claims remained fairly stable at the previous year's level, of EUR 128 million. It is however interesting to observe that the strongest contribution to the market growth belonged to insurers from smallest administrative entity of the country, the Republica Srpska. Thus, RS's share in the overall premium production increased by about 1.5 pp, to 29%.
Bosnian insurer Bobar Osiguranje said on Friday it has completed a
public offering of ordinary shares ahead of planned after the shares
were sold out.
Bosnia's Standard Group has decided not to go through with the
acquisition of a majority interest in local insurer Bobar Osiguranje,
local media reported on Thursday. Standard Group has abandoned
earlier plans to recapitalise Bobar Osiguranje with 3.8 million marka
(1.9 million euro), news portal Capital.ba reported.
Bosnian insurer Bobar Osiguranje said on Friday it will launch a public
offering on December 14 to sell 38,000 ordinary shares via the Banja
Luka Stock Exchange. The par value of one share is set at 100 marka, the insurer said in a bourse filing.
Based on the figures released by the insurance agencies in the Federation of Bosnia and Herzegovina (FBiH) and the Srpska Republic (RS), in 3Q2015 the aggregate value of GWP by the 24 insurers active in the two administrative entities that formed the country was EUR 227.2 million, or 4.4% more y-o-y. Overall, the value of claims paid increased by almost 5% y-o-y to EUR 96 million.
Bosnian insurance company Bobar Osiguranje said on Monday it will borrow
5 million marka (2.6 million euro) from the local Bor Banka. The
company's shareholders approved the loan on November 9, the insurer said
in a filing with the Banja Luka Stock Exchange.
Bosnian insurance company Bobar Osiguranje said its shareholders have
approved cutting its capital by 11.95 million marka (6.1 million euro)
to 1.3 million marka through the cancellation of shares while also
backing the issue of new shares with the aim to cover losses and for
legal reserve purposes.
The net profit of Bosnian insurer ASA Osiguranje surged to 131,000 marka
(67,100 euro) in the first nine months of 2015 from 11,400 marka a year
earlier, the company said on Monday in a bourse filing.