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.
In January-September 2014, the Montenegrin insurance market totaled EUR 54 million, a slight sub unitary increase of 0.4% compared to the previous year, Insurance Supervision Agency reported. Compared to 3Q2013, non-life insurance premium was down by 2.4% (to EUR 45.3 million), while the total life insurance premium grew by 17.6% (to EUR 8.6 million).
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).
The Montenegrin insurance market totaled EUR 15.6 million at the end of March 2014, which represents a decrease of 2.6% y-o-y, according to preliminary data published by Insurance Supervision Agency. At the same time, the value of claims paid by local insurers EUR 7.1 million.
The Montenegrin insurers ended 2013 with an overall increase of the GWP of 8.7%, to almost EUR 73 million. Both life and non-life insurance businesses witnessed a positive y-o-y change, of 14.7% and 7.7% respectively.
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.
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).
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.
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.
In the financial year 2012, the gross premiums written by the Montenegrin insurers amounted to EUR 66.8 million, representing a very slight increase, of only 3% y-o-y, as the Insurance Supervision Agency reported. Compared with FY2011, non-life insurance premiums grew by almost 3 % (to EUR 57.3 million), while the total life insurance premiums grew by 5% (to EUR 9.5 million). "Even if in Montenegro the volume of premiums does not seem very high, the insurance density is comparable to other larger countries, such as Bulgaria, Romania or Serbia, which is about EUR 100 per capita," declared Boris SABAN, Executive Director, National Bureau of Montenegro Insurers, last week at the International Insurance Forum in Istanbul.
9-10 April 2019 InterContinental Hotel, Almaty, Kazakhstan Organizer: InterConsult Info Official Publication: XPRIMM Publications Contact person: email@example.com For details: https://allinsurance.kz/events
10-12 April 2019 Radisson Hotel, Moscow, Russia Organizer: The Reinsurance Committee of All-Russian Insurance Association and DELOVOY Format Group as Co-organizer Media Partner: XPRIMM Publications For details:http://arc.ins-df.com/en