Bosnia and Herzegovina


Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Adriatic Sea;
- Neighbours: Croatia, Serbia, Montenegro.

- hot summers and cold winters;
- areas of high elevation have short, cool summers and long, severe winters;
- mild, rainy winters along coast.

Natural hazards:

- destructive earthquakes.

Macro indicators
* 2018 estimates
Pop. density*:68.5people/km2
GDP*:16.8EUR billion

European Union:
Potential candidate

Currency: Convertible mark
Code: BAM
Since: 1998

Exchange rates:


Bosnia 1H2019 Market Portfolio

Bosnia 1H2019 Insurance Companies Rankings

See all statistics

Latest news

BOSNIA: Foreign investors eye stake in Krajina Osiguranje

The Insurance Agency of Bosnia's Serb Republic said on Thursday that Naveen Aggarwal, the director of the Belgrade-based S&A Capital Investments, and another Indian national have submitted a request to acquire a stake in currently majority state-owned insurer Krajina Osiguranje.

Regulator confirms BOSNIA's Standard Group eyeing Bobar Osiguranje

The Insurance Agency of Bosnia's Serb Republic confirmed on Monday that Bijeljina-based company Standard Group is seeking a nod to become a majority shareholder in local insurer Bobar Osiguranje. A spokesperson for the Agency told SeeNews in an email that the request submitted by Standard Group is currently being processed.

BOSNIA's Standard Group to recapitalise Bobar Osiguranje

Bijeljina-based Standard Group is interested in recapitalising Bosnian insurer Bobar Osiguranje with some 4 million marka (2.04 million euro), becoming a 76% shareholder in the company, local media reported.

BOSNIA's Dunav Osiguranje plans capital hike of 1.7 mln euro

Bosnian insurance company Dunav Osiguranje said on Monday it plans to hike capital by 3.3 million marka (1.7 million euro) through a new share issue in a placement to a qualified investor. Dunav Osiguranje plans to issue 33,149 ordinary shares with a par value of 100 marka each, the company said in a filing with the Banja Luka Stock Exchange.

STATISTICS: BOSNIA, 1H2015: Srpska based insurers increased their weight in the market

The 24 insurers operating in the two administrative entities of Bosnia and Herzegovina (FBiH - Federation of Bosnia and Herzegovina and RS - Republika Srpska) reported GWP of BAM 293.8 million (EUR 150.23 million), up 3.7% y-o-y, according to the aggregate figures provided by the two market authorities (NADOS - Insurance Supervisory Agency of FBiH and AZORS - Insurance Agency of RS).

BOSNIA's Bobar Osiguranje, eyed by Maltese co, extends share sale offer

Bosnian insurer Bobar Osiguranje said on Tuesday it has extended until October 29 the validity of a public offer for the sale of 70,000 new ordinary shares via the Banja Luka Stock Exchange. Bobar Osiguranje said in a bourse filing that Maltese company Argentarius ETI Management LTD has expressed interest in purchasing over 50% of company's capital and added that it has decided to extend the deadline for the share issue by a period of 30 days so that the foreign investor can meet the relevant legal and company procedures for the acquisition.

BOSNIA: Sarajevo Osiguranje H1 net profit drops 32%

The net profit of Bosnian insurer Sarajevo Osiguranje dropped 32.2% to 105,000 marka in the first half of 2015, the company said on Wednesday. Sarajevo Osiguranje's gross written premiums fell 11.8% to 31.8 million marka through June, while its net operating costs decreased to 9.5 million marka from 11.4 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange.

BOSNIA's ASA Osiguranje H1 written premiums rise 34%

The gross written premiums of Bosnian insurer ASA Osiguranje surged 34% to 8.5 million marka in the first six months of 2015, the insurer said on Monday. In the first half of the year, ASA Osiguranje saw a 31% increase in written premiums from mandatory insurance and a 40% growth in premiums from voluntary insurance products, the company said in a press release made available to SeeNews.

BOSNIA's Wiener Osiguranje cuts capital by 2.2 mln euro

Bosnia's Wiener Osiguranje, part of the Vienna Insurance Group, said on Wednesday it is cutting its capital by 4.3 million marka to 11.2 million marka to partially cover accumulated losses and to establish legal reserves. 

IMF: BiH's financial system oversight needs further improvement

The IMF Directors commended the improvements in banking and insurance oversight since the 2006 Financial System Stability Assessment (FSSA), but noted that important shortcomings remain, stated a recent IMF press release after the IMF's Executive Board session on June 29th, where the Financial System Stability Assessment of Bosnia and Herzegovina (BiH) was discussed.

STATISTICS: BOSNIA, 1Q2015: RS based insurers maintained the country GWP "in black"

In the first three months of 2015, BiH's insurance market totaled almost EUR 70 million (BAM 136.8 million), 0.4% more y-o-y as a result of an increase of over 5.5% (to EUR 19.8 million) of insurance companies based in the Republic of Srpska (RS), according to the figures published by the two market authorities - Insurance Agency of Republika Srpska (AZORS) and the Insurance Supervisory Agency of Federation of Bosnia and Herzegovina (NADOS). The volume of FBiH insurers' GWP decreased by 1.5% y-o-y, totaling EUR 50.1 million.

VIG pre-tax loss in BOSNIA narrows sharply in 2014

Vienna Insurance Group (VIG) said on Tuesday its pre-tax loss from operations in Bosnia and Herzegovina narrowed to 500,000 euro in 2014 from 5.6 million euro a year earlier. VIG's total gross written premiums in Bosnia rose 5.5% to 11.5 million euro in 2014, with property and casualty insurance accounting for 10.8 million euro, up 3.8% on the year, VIG said in a financial report.

STATISTICS: BiH insurers reported a 6.6% GWP growth-rate and a 24.2% increase in claims in 2014

At the end of 2014, the 24 insurers activating in the two administrative entities that formed Bosnia and Herzegovina (FBiH - Federation of Bosnia and Herzegovina and RS - Republika Srpska) reported gross written premiums of BAM 562 million (EUR 287.4 million), up 6.6% y-o-y, according to the aggregate figures from the two market authorities (NADOS - Insurance Supervisory Agency of FBiH and AZORS - Insurance Agency of RS). At the same time, the aggregate value of paid claims increased by 24.2% to BAM 250 million (EUR 127.6 million).

BiH: JAHORINA Osiguranje rebranded to WIENER VIG

Bosnian insurer JAHORINA Osiguranje (owned by VIG since October 2011) said it has changed its name to WIENER Osiguranje VIENNA Insurance Group to better reflect its ownership, the insurer announced in a press release. "All contracts issued under the name of JAHORINA will remain in force until their expiration", declared Miroslav MISKIC, General Manager of WIENER Osiguranje VIG.

STATISTICS: Insurance agencies in FBiH and RS reported a 7.8% growth rate for BOSNIAN market in 3Q2014

Based on the figures released by the insurance agencies in the Federation of Bosnia and Herzegovina and the Srpska Republic (RS), in 3Q2014 the added-up value of gross written premiums by the 24 insurers active in the two administrative entities that formed Bosnia and Herzegovina increased to EUR 218 million, or 7.8% more y-o-y. The insurers from the Federation accounted for EUR 158 million (72.6% of total), while the RS insurance market accounted for the remaining rest of EUR 60 million.