PODGORICA (Montenegro), April 22 (SeeNews) – The Montenegrin insurance companies posted combined gross written premiums of 7.38 million euro ($7.9 million) in March, up from 4.98 million euro a month earlier, data of the country’s Insurance Supervision Agency indicated.
Non-life insurance premiums totalled 5.9 million euro in March, up by 44% on the month, accounting for 80.91% of the total gross written premiums, data from the Insurance Supervision Agency of Montenegro indicated.
Lovcen Osiguranje had the biggest market share of 36.58% on the non-life insurance segment in terms of gross premiums, followed by Generali Osiguranje Montenegro, Sava Montenegro, and Uniqa Nezivotno Osiguranje with market shares of 26.45%, 16.54% and 16.40%, respectively.
On the life insurance segment combined gross written premiums stood at 1.4 million euro in March, up by 56% on the month.
Uniqa Zivotno Osiguranje is the market leader on the life-insurance segment with a share of 36.49%, followed by Grawe Osiguranje, Wiener Stadtische Zivotno Osiguranje and Merkur Osiguranje with market shares of 28.98%, 13.65% and 11.38%, respectively.
In 2013, gross insurance premiums in Montenegro totalled 72.8 million euro, up from 66.9 million euro a year earlier. No consolidated data is available for 2014.
Eleven insurance companies operate in Montenegro, including six active in the life insurance segment.
($=0.9362 euro)