According to the centralized CEE figures, in terms of gross written premiums, at the end of June 2017, the insurance market of Montenegro was the smallest among all 17 CEE countries: GWP of EUR 40 million, up by 3.5% y-o-y.
The aggregate GWP of the 11 insurance companies operating in Montenegro has increased by 3.8% y-o-y to EUR 17.4 million in Q1 2017, data from the Insurance Supervisions Agency shows.
The International Monetary Fund (IMF) has pledged to provide technical support for the supervision of banks and insurance companies in Montenegro, the country's central bank, CBCG, said on Monday.
The Montenegrin market reported a 4.2% y-o-y growth in FY2016 GWP, to EUR 80.1 million, according to the preliminary figures published on the ISA's web-site. The non-life insurance segment had the largest contribution to the aggregate figure, reporting GWP of EUR 66.5 million (83% of total GWP), while the life sector accounted for the remaining 17%, or EUR 13.7 million.
Grawe has confirmed for the local financial press the acquisition of Merkur Insurance Podgorica, the Austrian Merkur International Holding 100% owned subsidiary from Montenegro, in a deal worth EUR 1.39 million.
In 3Q2016, the Montenegrin insurance market totaled almost EUR 60 million, a 3.5% increase y-o-y, as the Insurance Supervision Agency has reported. Compared with September 2015, non-life insurance premium was up by 3.3% (to EUR 50.1 million), while the life insurance GWP grew by 4.2% (to EUR 9.2 million).
Montenegro insurers' GWP increased by 4.50% y-o-y to EUR 38.65 million in the first half of the year, according to the figures published by the Insurance Supervision Agency. The aggregate value of gross claims paid was EUR 14.73 million, 1.60% more y-o-y.
Montenegro's insurers have reported a decreasing consolidated GWP amount, by 1.84% lower y-o-y, mostly pushed down by the significantly decrasing property insurance business.
Austrian insurance group UNIQA said on Thursday its pre-tax loss from
operations in Montenegro widened to 600,000 euro in 2015 from
300,000 euro a year earlier.
The insurance market of Montenegro saw a 6.24% y-o-y growth in GWP, to EUR 76.9 million. The non-life insurance segment had the largest contribution to the market growth, reporting GWP of EUR 64 million, 6.93% up y-o-y. Non-life insurance lines account for 83.2% of the total GWP.
Montenegrin insurer Lovcen Osiguranje, a unit of Slovenia's Triglav
Group, said its gross written premiums increased 9% to 22.4 million euro
in the first nine months of 2015.
Montenegrin insurance companies reported aggregate GWP of EUR 57.3 million during January-September 2015, 6.3% more y-o-y, according to the preliminary figures published on the country's Insurance Supervision Agency website. Non-life insurance premiums totaled EUR 48.5 million, up by 6.9% on the year, while the life insurance segment generated premiums of EUR 8.8 million, 4.0% more y-o-y.
Judging by the first six months results, it seems that the Montenegrin insurance market is recovering in 2015, with improved dynamics on almost all business lines. Thus, after ending 2014 with a drop in GWP, in 1H2015 the overall premium volume went up by 4.8% y-o-y, to almost EUR 37 million.
Montenegrin non-life insurer UNIQA Nezivotno Osiguranje raised its
capital to 8.7 million euro through the issue of new shares, while life
insurer UNIQA Zivotno Osiguranje hiked its capital to 4.03 million euro,
the Podgorica bourse said.
The 11 Montenegrin insurers activating on the market reported aggregate gross written premiums of EUR 17.06 million for the January-March 2015 period, up from EUR 15.63 million in 1Q2014, the figures published by the country's Insurance Supervision Agency indicated.
The Council of Montenegrin Central Bank has issued a license to turkish
'Ziraat Bank' to operate in Montenegro. Ziraat Bank applied for
permission in December 2014 and it is expected that the Turkish lender
will begin opening its branches in the coming months.
The Montenegrin insurance market totaled EUR 72.41 million at the end of 2014, 0.50% less y-o-y, according to the preliminary statistics published by the local Insurance Supervision Agency. As in the previous reporting periods, the two market segments recorded similar dynamics: Non-life insurance GWP was down by 3.31% (to EUR 59.85 million), while the total life insurance premium grew by 15.45% (to EUR 12.56 million).
Montenegrin insurance companies posted combined gross written premiums
of 6.02 million euro in November, down from 6.0 million euro a month
earlier, the country's Insurance Supervision Agency said. Non-life
insurance premiums totalled 4.973 million euro in November, up 1.4% on
the month, data from the Insurance Supervision Agency of Montenegro
Societe Generale Banka Montenegro said on Wednesday it has signed a deal
with local non-life insurer Uniqa to enable its clients to buy
insurance policies at the bank's branches. In the life insurance segment, Societe Generale Banka Montenegro partners with insurer Merkur, the lender said in a statement.
Austrian insurance group UNIQA said on Wednesday its negative earnings
before taxes from operations in Montenegro narrowed to 277,000 euro in
the first nine months of 2014 from 578,000 a year earlier.