SARAJEVO (Bosnia and Herzegovina), August 23 (SeeNews) – The combined premium income of the 27 insurance companies operating in Bosnia and Herzegovina has increased 10.51% on the year to 283.6 million marka ($171.1 million/145.0 million euro) in the first five months of 2017, data from the state insurance agency shows.
The non-life insurance sector accounted for 225.7 million marka of the total premium income in the five months through May, up 10.1% on the year, while the life-insurance companies contributed the remainder, which was 12.12% higher than their premium income in the same period a year earlier.
The premium income of the 13 companies operating in the Federation, one of Bosnia's two entities, increased 9.24% to 199.2 million marka in January-May. In Bosnia's other entity, the Serb Republic, 14 insurance companies generated an income of 84.4 million marka, up 13.64% on the year.
The Federation-based Sarajevo Osiguranje was the biggest insurer in Bosnia with a premium income of 24.3 million marka, up 2.58% on the year, and a market share of 8.58%.
In the Serb Republic, Wiener Osiguranje, a unit of Vienna Insurance Group (VIG), was the biggest insurer, with a 15.63% jump in premiums to 15.3 million marka. Its market share of Bosnia's insurance market was 5.38%.
The Federation and the Serb Republic are two autonomous entities that make up Bosnia and Herzegovina.
(1 euro=1.95583 marka)