Montenegro's insurance market up 6.4% y/y in H1 2012.

By bne IntelliNews August 13, 2012
Montenegro's insurance market increased by 6.4% y/y to EUR 34mn in the first six months of the year, according to our calculations based on data provided by the insurance supervision agency (ANO). The gross written premiums for life and non-life insurance thus accounted for 1% of the projected year-end GDP. Gross written premiums from non-life insurance in Montenegro reached EUR 29.7mn in H1, up by 6.9% compared to the year-ago period. The non-life insurance segment had an 87.1% market share, slightly higher compared to Jan-Jun 2011 (86.7%). The premiums in the life-insurance segment stood at EUR 4.4mn, up by 3.3% y/y. In June alone, Lovcen Insurance retained the leading position in the insurance market with a share of 45.3%. The second largest on the market was Sava Montenegro with a 16.7% share. Grawe osiguranje was first in the life insurance segment, holding 60.9% of total gross premiums in the segment. In the general insurance segment, Lovcen held a 51.9% stake, followed by Sava Montenegro with a 19.1% share and Delta Generali with 13.7%.

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