Montenegro's insurance market up 1.7% y/y in Jan-Apr 2012.

By bne IntelliNews June 15, 2012
Montenegro's insurance market inched up by 1.7% on the year to EUR 20.9mn in the first four months of the year, according to data provided by the insurance supervision agency (ANO). The gross written premiums for life and non-life insurance thus accounted for 0.6% of the projected year-end GDP. Gross written premiums from non-life insurance in Montenegro reached EUR 18.2mn in Jan-Apr, up by 1.5% compared to the year-ago period. The non-life insurance segment had an 87.1% market share, slightly lower compared to Jan-Apr 2011 (87.21%). The premiums in the life-insurance segment stood at EUR 2.7mn, up by 2.4% on the year. In April alone, Lovcen Insurance was a leader in the insurance market with a share of 39%. The second largest on the market was Sava Montenegro with a 18% share. Lovcen Insurance was also first in the life insurance segment, holding 45.5% of gross premiums. In the non-life insurance segment, Grawe Insurance held a 49.6% stake, followed by Uniqa Life Insurance with a 17.9% share and Lovcen Life Insurance with 16%.

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