The net consolidated profit of the Montenegro's top insurer Lovcen Osiguranje, part of Slovenia's Triglav Group, rose to EUR 3.96 million in 2024 from EUR 2.83 million a year earlier, SeeNews reports.

Organized by the National Insurance Bureau of Montenegro (NBOCG), the III Montenegrin Insurance Days, a conference called “Insurance continuously seeks new knowledge”, brought together more than 120 registered participants, including leading insurance experts from Montenegro, the region and Europe, the Bureau said.

The National Insurance Bureau of Montenegro announced III Montenegrin Insurance Days - this year’s third Conference opens its doors to all interested participants from the industry who want to stay up to date with innovations, professional educational content, who are looking for practical solutions to turbulent challenges and who want to expand their network of business contacts.

The Montenegrin market reported in FY2024 a 12.34% y-o-y growth in GWP, to EUR 134.19 million, according to the preliminary figures published on the ISA's website, while the value of paid claims &indemnities increased by 20.6% y-o-y to almost EUR 60 million.

Bearing in mind complexity of the requirements of the Solvency II Directive and the need for a significant adjustment of the insurance sector, the Insurance Supervision Agency has started a series of activities so that the Montenegrin insurance sector is fully prepared for the full application of all requirements of Solvency II.

At the end of September 2024, the insurance market of Montenegro totaled EUR 102.6 million, 12.7% more y-o-y, while the value of paid claims by insurers totaled EUR 42.64 million, up by 22.84% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.

The insurance market of Montenegro totaled EUR 68.23 million at the end of H1 2024, up by 13.95% y-o-y or by EUR 8.3 million, according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represent 81.35% of total insurance market - about EUR 55.5 million, up by 12% y-o-y while, while life business GWP was up by 23.11% y-o-y to EUR 12.7 million.

According to preliminary figures published by the Insurance Supervision Agency of Montenegro (ISA), the business of Montenegrin insurers increased by 12.58% y-o-y in the first quarter of 2024, reaching EUR 34.46 million.

The National Bureau of Insurers of Montenegro and the Montenegrin Actuarial Society organized the second edition of the Montenegrin Insurance Days - a conference named "New Horizons of Insurance". The event took place on April 22-24, at the Avala Hotel in Budva.

The Montenegrin market reported a 10.3% y-o-y growth in FY2023 GWP, to EUR 119.5 million, according to the preliminary figures published on the ISA's website, while the value of paid claims &indemnities increased by 9.1% y-o-y to almost EUR 50 million.

At the end of September 2023, the insurance market of Montenegro totaled EUR 90.98 million, 9.90% more y-o-y, while the value of paid claims by insurers totaled EUR 34.68 million, up by 4.76% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.

Montenegrin insurer Lovcen Osiguranje, which is among the biggest insurers in SEE and is part of the Slovenia-based Triglav Group, reported a net profit of EUR 3.3 million in the first nine months of 2023, up 73% y-o-y, SeeNews reports.

The insurance market of Montenegro totaled EUR 59.9 million at the end of H1 2023, up by 9.1% y-o-y (or by EUR 5 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA). Gross written premiums from non-life insurance represents 82.7% of total insurance market - about EUR 49.5 million, up by 10.7% y-o-y while, life business GWP was up by 2.4% y-o-y to EUR 10.3 million.

The business of Montenegrin insurers increased by 13.83% y-o-y in the first quarter of 2023, reaching EUR 30.61 million, as preliminary official figures showed.

"Gradual and timely alignment with EU regulations in insurance is the best way to meet the standards and requirements of the new Solvency II regulatory regime", as was emphasized at the meeting of the leadership of the Insurance Supervisory Agency (ANO) and the Austrian Financial Services Supervisory Agency (FMA).

The Montenegrin market reported a 9.58% y-o-y growth in FY2022 GWP, to EUR 108.28 million, according to the preliminary figures published on the ISA's website.

Montenegrin insurer Lovcen Osiguranje reported a net profit of EUR 1.44 million in the first nine months of 2022, up 134% y-o-y, SeeNews reported.

At the end of September 2022, the insurance market of Montenegro totaled EUR 82.79 million, 11.23% more y-o-y, while the value of paid claims by insurers totaled EUR 33.11 million, up by 7.45% y-o-y, according to the quarterly market data released by Insurance Supervision Agency.

The delegation of the Insurance Supervision Agency of Montenegro, led by the President of the Council, Uros Andrijasevic, visited Vienna to participate in the meeting of insurance regulators of the CESEE region (Central, Eastern and Southeastern Europe), the agency said on its website.

The insurance market of Montenegro totaled EUR 54.9 million at the end of H1 2022, up by 11.9% y-o-y (or by EUR 5.9 million), according to the half-year figures published by the local Insurance Supervision Agency (ISA).

Gross written premiums from non-life insurance represents 81.6% of total insurance market - about EUR 44.8 million, up by 12.4% y-o-y while, life business GWP was up by 9.2% y-o-y to EUR 10.1 million.