Bosnia Insurance Industry – Key Trends and Opportunities to 2028
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Bosnia Insurance Market Report Overview
The gross written premium of the Bosnia insurance market was BAM963.1 million ($502.9 million) in 2023. The market is expected to achieve a CAGR of more than 5% during 2024-2028. The Bosnia insurance market research report provides in-depth market analysis, information, and insights into the Bosnia insurance industry. It provides a detailed outlook by product category as well as values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review and forecast periods.
Bosnia Insurance Market Outlook, 2023-2028 (BAM Million)
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The Bosnia insurance market report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Bosnia economy and demographics. It further evaluates the competitive landscape, which entails information on segment dynamics, competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
Market Size (2023) | BAM963.1 million ($502.9 million) |
CAGR (2024-2028) | >5% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Segments | · General Insurance
· Life Insurance |
Key Companies | · UNIQA
· Vienna · GRAWE · Triglav · GRAWE AD |
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Bosnia Insurance Market Trends
The key trends impacting the Bosnia insurance market are health insurance and car insurance. In September 2023, ASA Bank started offering complimentary health insurance for clients who take out a loan and start repaying it within 12 months. Customers receive ASA Central’s Medic Basic package which can be used at Eurofarm Centar private healthcare facilities in Bosnia and Herzegovina. The package includes medical examinations, diagnostics, and medical laboratory services.
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Bosnia Insurance Market by Segments
The key segments in the Bosnia insurance market are life insurance and general insurance. The general insurance segment dominated the Bosnia insurance market in 2023 and is expected to register significant growth over 2024-2028. The key lines of business in the Bosnia general insurance market are property, motor, liability, financial lines, MAT, and general insurance PA&H. Motor insurance was the dominant line of business in 2023.
Bosnia Insurance Market Analysis by Segments, 2023 (%)
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Bosnia Insurance Market – Competitive Landscape
In 2022, UNIQA accounted for the highest market share in the Bosnia life insurance market
A few of the key companies in the Bosnia insurance market are:
- UNIQA
- Vienna
- GRAWE
- Triglav
- GRAWE AD
Bosnia Life Insurance Market Analysis by Companies, 2022(%)
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Bosnia Insurance Market – Latest Developments
- The Insurance Supervisory Agency of Federation of Bosnia and Herzegovina (Agencija za nadzor osiguranja Federacije Bosne i Hercegovine — NADOS) announced the phased deregulation of mandatory motor vehicle insurance premiums on October 30, 2023. This was implemented on November 1, 2023.
- On May 20, 2022, NADOS announced the increase in share capital for all insurance companies operating in the country, which is in line with the Law on Insurance.
Bosnia Insurance Market Segments Outlook (Value, BAM Million, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Bosnia insurance industry. It also offers:
- Historical values for the Bosnia insurance industry for the review period, 2019-2023, and projected figures for the forecast period, 2024-2028.
- A detailed analysis of the key categories in the Bosnia insurance industry and market forecasts up to 2028.
- Insights on key regulations affecting the market.
- Analysis of distribution channels operating in the segment, an overview of the Bosnia economy and demographics, and detailed information on the competitive landscape in the country.
- Profiles of the top life insurance companies in Bosnia and Herzegovina and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Bosnia and Herzegovina insurance industry.
- A comprehensive overview of the Bosnia and Herzegovina economy, government initiatives, and investment opportunities.
- The Bosnia and Herzegovina insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Bosnia and Herzegovina insurance industry’s market structure giving details of lines of business.
- Bosnia and Herzegovina’s reinsurance business’s market structure giving details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Bosnia insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Bosnia insurance industry.
- Assess the competitive dynamics in the Bosnia insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Sarajevo Osiguranje
UNIQA Osiguranje
GRAWE Osiguranje
Triglav Osiguranje
ASA Osiguranje
Euroherc Osiguranje
Central Osiguranje
Table of Contents
Frequently asked questions
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What was the Bosnia insurance market gross written premium in 2023?
The gross written premium of the Bosnia insurance market was BAM963.1 million ($502.9 million) in 2023.
-
What will the growth rate of the Bosnia insurance market be during the forecast period?
The insurance market in Bosnia is expected to achieve a CAGR of more than 5% during 2024-2028.
-
Which segment dominated the Bosnia insurance market in 2022?
The general insurance segment dominated the Bosnia insurance market in 2023.
-
Which are the major companies operating in the Bosnia insurance market?
A few of the key companies in the Bosnia insurance market are UNIQA, Vienna, GRAWE, Triglav, and GRAWE AD.
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