STATISTICS: Montenegrin market up by 3.5% at the end of the third quarter

In 3Q2016, the Montenegrin insurance market totaled almost EUR 60 million, a 3.5% increase y-o-y, as the Insurance Supervision Agency has reported. Compared with September 2015, non-life insurance premium was up by 3.3% (to EUR 50.1 million), while the life insurance GWP grew by 4.2% (to EUR 9.2 million).

On the non-life segment, the largest GWP increase was reported by health policies (+25.3%), while the property sector declined by 5.9%.

At the same time, local insurers paid claims of about EUR 21.5 million or 1.3% more y-o-y, of which about a half (EUR 10.4 million) - related to the two motor segments (MTPL and MoD, summed-up).

In life insurance, the largest market share - 35% (EUR 3.2 million) was generated by GRAWE Osiguranje, while in non-life, the market leader with the greatest GWP was LOVCEN Insurance (member of Slovenian-based TRIGLAV Group): market share of 44% (EUR 22 million).

Access www.xprimm.com and download the 3Q2016 Montenegrin insurance market statistics - market portfolio & market rankings: GWP, claims, growth rates, shares.

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

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