Since insurers of our interest, Triglav and Croatia Osiguranje operate in B&H, we are bringing you the GWP development for Q1 2020.

The Insurance Premium Agency of Bosnia and Herzegovina published their GWP development in Q1 2020. Since insurers of our interest, Triglav and Croatia Osiguranje operate in this market, it is valuable to see the development of this market as well. Note that less than 5% of total GWPs come from the B&H market for both of these insurers.

In Q1, Triglav recorded a strong increase in GWPs of 24.6%, which amounted to EUR 7.81m. Of that, non-life segment accounts for EUR 4.73m representing an increase of 4.9% YoY. Meanwhile, life segment recorded a strong increase of 75%, amounting to EUR 3.1m.

Meanwhile, in the same period Croatia Osiguranje recorded a decrease in GWPs of 19% YoY, amounting to EUR 5.35m. Such a decrease came mostly on the back of a fall in non-life segment, which recorded a 16% decrease, amounting to EUR 4.7m. Meanwhile, life segment also recorded a strong decrease of 38% YoY.

When observing the whole market, GWPs in B&H recorded a 5.3% YoY increase in Q1, amounting to EUR 73.15m. Of that non-life, segment accounts for EUR 55.77m (+4.9%), while life segment accounts for EUR 17.38m (+6.4%).  The highest nominal increase was observed in the other property insurance of EUR 0.8m, while vehicle insurance, which is the biggest item of all GWPs (41%) recorded an increase of 2.1%