STATISTICS: BOSNIA, 3Q: 8% y-o-y increase in GWP and a new market leader

Based on the figures released by AZOBIH - Insurance Agency of Bosnia and Herzegovina, at the end of September 2016 the aggregate value of GWP by the 27 insurers active in Republika Srpska and Federation of Bosnia and Herzegovina - the two administrative entities of the country, was of EUR 245.2 million, or 7.9% more y-o-y, while the value of claims paid was down by 5.2% y-o-y, to EUR 90.9 million.

The figures published on AZOBIH website reveal that GWP by insurers from the Federation accounted for EUR 172.9 million (70.5% of total) or 7.7% more y-o-y, while the RS insurance market generated the remaining rest of EUR 72.3 million (up by 8.5% y-o-y).

At the same time, the aggregate figures reveal that the GWP portfolio consisted of about 19.3% - life insurance, the equivalent of EUR 47.5 million, of which EUR 40.4 million - generated by FBiH life insurers and about EUR 7.1 million - by RS life insurers.

From the non-life subclasses, 9.2% of GWP corresponded to the property lines and 59.6% to motor insurance (Motor Hull and MTPL, summed) - the equivalent of EUR 146.2 million.

According to the presented figures, per insurance companies, UNIQA osiguranje is the new market leader, the mentioned insurer reporting the highest GWP volume: EUR 22.1 million (9% market share).

Top 3 was completed by by the former leader - SARAJEVO osiguranje (EUR 21.9 million, 8.9%) and EUROHERC (EUR 21.1 million, 8.6%).

Access www.xprimm.com and download the 3Q2016 Bosnian insurance market statistics (in EUR and BAM).

Aggregate BiH insurance market indicators (FBiH and RS insurance markets, summed):
  • Market portfolio (in EUR and BAM)
  • Life and non-life market rankings (GWP/ Claims/ Market shares/ Growth rates)
FBiH insurance market indicators:
  • Market portfolio (in EUR and BAM)
  • Life and non-life market rankings (GWP/ Claims/ Market shares/ Growth rates)

RS insurance market indicators:
  • Market portfolio (in EUR and BAM)
  • Life and non-life market rankings (GWP/ Claims/ Market shares/ Growth rates)

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