STATISTICS: BiH, FY2015: steady growth fueled by the MTPL line

The Bosnian insurance market saw a 4.7% y-o-y growth, to GWP of EUR 301 million, while paid claims remained fairly stable at the previous year's level, of EUR 128 million. It is however interesting to observe that the strongest contribution to the market growth belonged to insurers from smallest administrative entity of the country, the Republica Srpska. Thus, RS's share in the overall premium production increased by about 1.5 pp, to 29%.

No significant changes occurred in the market portfolio's structure, except for the increasing share of the MTPL business. In fact, this insurance line was almost entirely responsible for the market's upswing, providing for over 80% of the premiums surplus.

Life insurance segment's share in the total GWP remained stable, at about 21%, with a total GWP volume of EUR 63 million. On this particular line, insurers of the Federation of Bosnia & Herzegovina are holding almost a monopoly position, providing for about 84% of the premiums written.

On the non-life side, the balance between markets of the two administrative entities is more balances, with two thirds of the GWP coming from FBiH, and a RS contribution of about 33% of the total non-life premiums.

The MTPL insurance line increased its share in the total GWP from 47.7% in 2014 to 49.4% in 2015, while despite the dramatic experience of the 2014 floods, the property insurance lines didn't record any significant evolution.

SARAJEVO, EUROHERC and BOSNA-SUNCE are the Top 3 non-life insurers, with an aggregated market share of 32.5%, all three companies being domiciled in FBiH. The largest RS non-life insurer, WIENER VIG ranks 4th in the overall non-life ranking.

Top 3 life insurers, UNIQA, MERKUR BH and GRAWE account together for over 65% of the total life business and are domiciled in FBiH. GRAWE RS is the largest RS life insurer and ranks 4th in the total life ranking.

Access www.xprimm.com and download the FY2015 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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