STATISTICS: MONTENEGRO, 1Q2016: Property insurance decline pushed down the market turnover

Montenegro's insurers have reported a decreasing consolidated GWP amount, by 1.84% lower y-o-y, mostly pushed down by the significantly decrasing property insurance business.

Thue, while on the life insurance side, GWP went up by 3.2%, to EUR 2.76 million, non-life insurance saw a 2.77% decrease in GWP, to EUR 13.99 million. Overall, GWP amounted to EUR 16.75 million, some quarter million euros less than in 1Q2015. In this context, life insurance segment's share in the total portfolio increased by almost 1pp.

Property insurance saw a 10.56% decrease in GWP, to EUR 1.84 million. The negative trend was similar on both property insurance lines: fire insurance and damages to property insurance.

The motor insurance lines recorded a positive evolution, with GWP increasing by 9.3%, to EUR 8,2 million. The MTPL insurance line was, in fact, the driver, both in size and dynamic terms.

Access www.xprimm.com and download the 1Q2016 Montenegrin insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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