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

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1H2014Insurance market overview pdf
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FY2013Insurance market overview pdf
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FY2012Insurance market overview pdf
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FY2011Insurance market overview pdf
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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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Montenegrin market continued its upward trend: over 3% growth in 2012

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.

MONTENEGRO 3Q2012: insurance market maintains the ascending trend

In January-September 2012, the gross premium written by the Montenegrin insurers amounted to EUR 51.1 million, slightly increasing by 4.18% in relation to the previous year, Insurance Supervision Agency reported. Compared to 3Q2011, non-life insurance premium grew by 4.3% (to EUR 44.7 million), the while the total life insurance premium grew by 3.28% (to EUR 6.4 million).


Montenegrin insurer Delta Generali osiguranje has boosted its capital by EUR 879,000 (USD 1.15 million) as it merged its life-insurance unit Delta Generali zivotna osiguranja.

MONTENEGRO: intense battle among the top market ranking companies

The Montenegrin insurance market ended the first half of 2012 with a 6.37% growth in terms of GWP, to EUR 34 million. With few exceptions, all insurance lines recorded a positive dynamic, in spite of a difficult economic environment which leaded to rising unemployment rate - up by 1.5pp as compared to July 2011, to 12.65% -, and decreasing average wage of the Montenegrin citizens.

MONTENEGRO, 1Q2012: GWP rose 14%

According to data of the Insurance Supervision Agency of Montenegro, gross premiums for the 12 insurance companies totaled EUR 15.6 million at the end of March, up 14.2% in relation to the same period of 2011.

MONTENEGRO: UNIQA's 2011 loss narrows 27%

Austrian insurance group UNIQA said its loss from ordinary activities in Montenegro narrowed to 685,000 euro ($906,200) in 2011 from 943,000 euro a year earlier.

MONTENEGRO: State helping agriculturalists with insurance

Minister of Agriculture and Rural Development of Montenegro Tarzan Milosevic expressed the satisfaction with the increase of sown areas in Montenegro during 2011. At the same time, Milosevic announces state subsidies for the insurance of agriculturalists and their families.

MONTENEGRO: politicians want a national insurer to weigh down the Slovene players

During a recent session of the Montenegrin Committee for Economy, Finance and Budget, a representative of the main opposition party, the Socialist People's Party (SNP), Dragoslav SCEKIC said that Montenegro should form a national insurance house and prevent the outflow of money through other insurance companies. In his view, "there is monopoly in this sector, which is controlled by Slovenian insurance companies, which is the reason for the outflow of capital".