Southeastern Europe, between the Adriatic Sea and Serbia

Mediterranean climate, hot dry summers and autumns and relatively cold winters with heavy snowfalls inland

Natural hazards:
destructive earthquakes

Currency: EURO

Insurance Supervision Agency of Montenegro
Central Bank of Montenegro

Insurance statistics

1Q2017Market Portfolioxlsx
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FY2016Insurance companies rankingsxlsx
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FY2015Insurance companies rankingsxlsx
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FY2014Insurance companies rankingsxlsx
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1H2014Insurance market overview pdf
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1Q2014Market Portfolioxlsx
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FY2013Insurance market overview pdf
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1H2013Insurance market overview pdf
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FY2012Insurance market overview pdf
FY2012Market Portfolioxlsx
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3Q2012Market portfolioxlsx
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FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
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3Q2011Market portfolioxlsx
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1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxls
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
2009Montenegrin insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Montenegrin insurance market overviewpdf
1H2010Market portfolioxls
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1H2010Non-Life insurance rankings (total & main lines)xls

Montenegro TY2018 Timeline

Montenegro FY2018 Market Portfolio

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STATISTICS: MONTENEGRIN market ended 2014 "in red", influenced by decreases in property and motor insurance

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 insurers' Nov gross written premiums edge up 0.4% m/m

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 indicated.

MONTENEGRO: Societe Generale Banka in bancassurance deal with Uniqa

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.

MONTENEGRO's insurance market down 1% y-o-y in H1

Montenegro's insurance market declined by 1% on the year to EUR 35.3 million in the first six months of the current year, according to data provided by the Insurance Supervision Agency (ANO). Gross written premiums from non-life insurance totaled EUR 29.4 million, down by 4.4% y-o-y and accounted for ~83.4% market share, slightly lower compared to 1H 2013 (86.3%). The premiums in the life-insurance segment increased in absolute value by almost EUR 1 million to EUR 5.9 million (up by 19.8% on the year).

UNIQA MONTENEGRO increases market share

Uniqa Montenegro closed the third quarter of 2013 with encouraging figures. The premium volume increased by 11.2 per cent to 7.9 million euros (1-9 / 2012: 7.1 million euros). In a market characterised by stable growth, UNIQA Montenegro expanded its market share by 0.8 percentage points to 14.6 per cent (1-9 / 2012: 13.8 per cent), meaning that it ranks at fourth place on the Montenegrin insurance market.

MONTENEGRO, 3Q2013: Positive dynamics are maintained in almost all segments

In January-September 2013, the Montenegrin insurance market totaled EUR 53.6 million, 4.9% more y-o-y, according to preliminary data published by the Insurance Supervision Agency. The structure of GWP was composed of 86.4% - non-life insurance, while the share of life insurance increased from 12.6% to 13.6% - due the higher growth rate than the market average (13.6% y-o-y).

MONTENEGRO 1H2013: +4.71% y-o-y

The 1H2013 results of the Montenegrin insurance market confirmed the trends already visible by the end of 2012 and in the first quarter of 2013 - an obviously slowing growth trend on the non-life insurance segment together with a continuously improving dynamic on the life insurance lines. Thus, the overall GWP volume amounted to EUR 35.64 million, 4.71% up y-o-y, while GWP went up by 11.62% y-o-y for the life insurance segment and by only 3.7% for the non-life business lines.

MONTENEGRO 1Q2013: Beginning of 2013 confirms the trends witnessed in 2012

The 1Q2013 results of the Montenegrin insurance market confirmed the trends already visible by the end of 2012 - an obviously slowing growth trend on the non-life insurance segment together with a continuously improving dynamic on the life insurance lines. Thus, the overall GWP volume amounted to EUR 16.05 million, 2.8% up y-o-y, while GWP went up y-o-y by 10% for the life insurance segment and by only 1.7% for the non-life business lines.