Bosnia and Herzegovina
MTPL insurance market’s deregulation starts in FBiH, one of the two administrative entities of Bosnia & Herzegovina
On November 1, 2023, in accordance with the Law on Compulsory Traffic Insurance, a gradual and phased deregulation of the MTPL insurance sector in the Federation of Bosnia and Herzegovina (FBiH) will come into effect, insurance companies gaining the right to apply their own MTPL tariffs with prior approval from the market authority, the Insurance Supervision Agency of the FBiH (NADOS) announced.
1 November 2023BiH: Conference "Days of Insurance in BiH 2023" - despite the challenges, the insurance sector is recording continuous growth
The third conference "Days of Insurance in Bosnia and Herzegovina" was held on September 21 and 22 in Sarajevo. The event organized by the Association of Insurance Companies in the Federation of BiH (UDOFBiH) gathered over 200 participants - domestic and foreign experts from the insurance industry.
25 September 2023BiH: increasing MTPL tariffs gives rise to a schism between NADOS and the Ministry of Communications and Transport of Bosnia and Herzegovina
On 16 September, the provisions of NADOS’s Decision on amendments to the Decision on the method of determining the premium tariff and price list for MTPL insurance, entered in into force in the FBiH leading to an increase in the basic premium from 396 KM to 420.55 KM.
21 September 2023STATISTICS: Bosnia's insurance market expanded in H1 2023 to a quarter of a billion euros
At the end of the first half-year of 2023, the BiH insurance market totaled EUR 249.9 million (BAM 488.7 million), 9.9% more y-o-y, as statistics from the local insurance agency - AZOBIH shows.
18 September 2023Bosnia and Herzegovina: In January-May the Federation insurance market goes up 8.6%
In January-May 2023 total GWP of insurance companies operating in Bosnia and Herzegovina's Federation increased 8.6% to BAM 272.7 million (EUR 139.4 million), SeeNews reports referring to official data.
15 June 2023STATISTICS: Bosnia Q1 2023: BiH insurers accounted for more than 70% of overall market
At the end of March 2023, the BiH insurance market totaled EUR 117.27 million (BAM 229.35 million), 9.32% more y-o-y, according to the quarterly market figures published by the local insurance agency - AZOBIH.
7 June 2023STATISTICS: Bosnian insurers business expanded to over EUR 450 million in 2022
At the end of last year, the insurance market Bosnia totaled EUR 450.5 million (BAM 881 million), 7.7% more y-o-y, according to the Q4 2022 market figures published by AZOBIH - Insurance Agency of Bosnia and Herzegovina.
23 March 2023Bosnia and Herzegovina: application of the IFRS 17 extended until 01.01.2026
The Insurance Supervisory Agency of the Federation of Bosnia and Herzegovina in January 2023 held a meeting with the management of (re)insurance companies, where it was pointed out that in 2022 life and non-life insurance registered an increase, the insurance market is still dominated by motor insurance and that the market can be considered as also stable and sustainable.
7 February 2023Bosnia: The merger ASA-Central osiguranje will create the largest insurer in the country
At the end of the year, Bosnian insurers ASA Osiguranje and Central osiguranje will be officially merged, local media informed. The merger will create the largest insurer in the country with more than 11% market share.
12 December 2022Zeljko Slijepcevic appointed ombudsman for the insurance sector of the Republika Srpska
Zeljko Slijepcevic, member of the Management Board of the Banking Agency of Republika Srpska, has been appointed as the ombudsman in the insurance of the RS, for a five year mandate, starting on 8 December osiguranje.hr wrote.
8 December 2022STATISTICS: BiH insurers' 9 months business extended by 8.15% y-o-y
The insurance market of Bosnia and Herzegovina ended the first nine months of the current year with aggregate gross written premiums worth BAM 668.66 million (~EUR 341.88 million) vs. BAM 618.26 million (~EUR 316.11 million) a year before, according to the January-September 2022 market data published by AZOBiH - Insurance Agency of Bosnia and Herzegovina.
24 November 2022Bosnia and Herzegovina: Days of Insurance in BiH conference held on September 29-30
On September 29 and 30 the Association of Insurance Companies in the Federation of Bosnia and Herzegovina organized in Sarajevo the second conference "Days of Insurance in BiH", which brought together domestic and foreign experts from the insurance industry, nados.ba wrote.
5 October 2022Bosnia and Herzegovina: in January-August the market growth reached 8.7%
From January to August 2022, GWP of insurance companies operating in Bosnia and Herzegovina's Federation increased by 8.7% y-o-y to BAM 411.5 million (EUR 210.4 million), SeeNews informed according to the official data.
16 September 2022STATISTICS: Bosnia's insurance market grows by 9.4% y-o-y in H1 2022 to EUR 227 million
At the end of the first half-year of 2022, the BiH insurance market totaled EUR 227.4 million (BAM 444.7 million), 9.4% more y-o-y, as statistics from the local insurance agency - AZOBIH shows.
1 September 2022Bosnia and Herzegovina: ASA and Central Insurance to become a leader in the insurance market after merging
The merger of ASA and Central Insurance, both domestic and fast-growing insurance companies, will result in a leading position on the Bosnian insurance market for ASA Central Osiguranje, the insurer said.
4 July 2022STATISTICS: BiH Q1 2022: insurers' business increased by 9.20% to over EUR 107 m
The insurance companies operating in Bosnia and Herzegovina reported aggregate Q1 2022 GWP worth BAM 209.81 million (EUR 107.27 million), up by 9.20% compared with the same period of 2021, according to the quarterly market figures published by the local insurance agency - AZOBIH.
8 June 2022Bosnia and Herzegovina: charter capital of insurance companies has increased
The Insurance Supervision Agency of the Federation of BiH approved the increase of charter capital to all insurance companies operating in the territory of the Federation of Bosnia and Herzegovina, the agency informed.
24 May 2022Bosnia and Herzegovina: The business of insurers operating in Bosnia's Federation expanded 9% y-o-y in the first four months
The business of insurance companies operating in Bosnia's Federation expanded 9% y-o-y to BAM 196.5 million (EUR 100.5 million) from January to April this year, SeeNews reports according to what official data showed.
17 May 2022Bosnia and Herzegovina: ASA Osiguranje's net profit grew more than 27% y-o-y in 2021
Net profit of the Bosnian insurer ASA Osiguranje increased 27.3% y-o-y in 2021 to BAM 3.2 million (EUR 1.6 million), SeeNews informed.
5 April 2022STATISTICS: Bosnian insurers business increased by 8.19% in 2021
At the end of 2021 the BiH insurance market totaled EUR 418.44 million (BAM 818.40 million), 8.19% more y-o-y, according to the YE 2021 market figures published by the local insurance agency - AZOBIH.
3 March 2022
