FBiH Insurance Market: Sarajevo-osiguranje Achieved the Highest Growth in Q1 2019

SARAJEVO, (Patria) - Sarajevo-osiguranje achieved the highest revenue growth in the insurance market in the Federation of BiH in the first quarter of this year, according to data published by the Insurance Supervision Agency of the Federation of BiH, writes Patria.

In the first three months of 2018, Sarajevo-osiguranje generated a premium of KM 13,863,245, while in the first three months of 2019, the company recorded a premium of KM 15,533,244, which is an increase of about KM 1.7 million.

Uniqa osiguranje is in first place among insurance companies in the Federation of BiH in terms of total premiums in the first three months of this year, with KM 15,903,565, which is only KM 370,000 more than the second-placed Sarajevo-osiguranje, which achieved total premiums of KM 15,533,244 in the first three months. Adriatic osiguranje is in third place with KM 15,256,305.

If this trend continues in the coming period, it is expected that Sarajevo-osiguranje will regain the leading position in the insurance market in the Federation, as early as the next quarter of this year.

If the total premiums of insurance companies for the first three months of this year are broken down by type of premium, the results would look like this: Sarajevo-osiguranje leads other companies in non-life insurance. In the first three months of this year, the company generated KM 13,798,908, an increase of KM 1.7 million compared to the same period last year.

Uniqa osiguranje leads in life insurance, having achieved a premium of KM 6,984,646 in the first three months of 2019 and also recorded growth compared to the same period last year.

ASA osiguranje also achieved significant growth compared to the first quarter of 2018, rising from KM 6,232,012 to KM 7,564,241.

Camelia osiguranje is at the bottom of the table, with KM 2,221,362 in the first three months of 2018, recording a slight decrease to KM 2,117,528 in the same period this year.

The growth of Central osiguranje has stalled. Although the company generated a premium of KM 5,105,014 in the first three months of 2017, and rose to KM 8,237,458 in the same period the following year, in the first three months of 2019, Central osiguranje recorded stagnation, remaining at KM 8,264,784. It was previously announced that an agreement was signed for the sale of Central osiguranje to Croatia osiguranje, but it was soon announced that one of the largest insurance companies in Croatia was withdrawing from the purchase of Central osiguranje.