BMI View: The outlook for the insurance market in Bosnia and Herzegovina is generally positive. Whilethe market, particularly the life insurance segment, is in the earlier stages of development, the volume ofwritten premiums is rising. The presence of several larger regional providers is helping to boost the rangeof products available in the market and the growing use of bancassurance distribution will enable insurersto reach new users. That being said, high unemployment levels and limited awareness of the benefits ofinsurance cover will continue to hamper the development of this small market.
Key Updates & Forecasts
Austria based GRAWE, one of the leading providers in the life sector, received approval from thecompetition agency in Bosnia in July 2017 to take over local non-life insurance company VGTOsiguranje after increasing its shareholding in the company to 100%.