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The Insurance Industry in Montenegro, Key Trends and Opportunities to 2018

Published By :

Timetric

Published Date : Sep 2014

Category :

Insurance

No. of Pages : 169 Pages

Synopsis

The report provides in-depth industry analysis, information and insights of the insurance industry in Montenegro, including:

  • The Montenegrin insurance industry’s growth prospects by insurance segment and category
  • The competitive landscape in the Montenegrin insurance industry
  • The current trends and drivers of the Montenegrin insurance industry
  • Challenges facing the Montenegrin insurance industry
  • Detailed regulatory framework of the Montenegrin insurance industry

Executive summary

In terms of gross written premium the Montenegrin insurance industry increased at a review period (2009–2013) CAGR of 2.6%. The growth was led by the life segment, which grew at a CAGR of 7.6%, and personal accident and health insurance with a CAGR of 3.8%. The non-life segment constituted 72.1% of the industry, followed by the life segment with 14.9% and the personal accident and health segment with 12.9% in 2013. Motor insurance constituted 72.9% of the non-life segment, followed by property insurance with 19.8%.

Scope

This report provides a comprehensive analysis of the insurance industry in Montenegro:

  • It provides historical values for the Montenegrin insurance industry for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key segments and categories in the Montenegrin insurance industry, along with forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Montenegro, and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in-depth historic and forecast industry data related to the Montenegrin insurance industry and each segment within it.
  • Understand the demand-side dynamics, key trends and growth opportunities within the Montenegrin insurance industry.
  • Assess the competitive dynamics in the Montenegrin insurance industry.
  • Identify the growth opportunities and market dynamics within key segments.
  • Gain insights into key regulations governing the Montenegrin insurance industry and its impact on companies and the industry\'s future.

Key highlights

  • In terms of gross written premium the Montenegrin insurance industry increased at a review period (2009–2013) CAGR of 2.6%.
  • The non-life segment constituted 72.1% of the industry, followed by the life segment with 14.9% and the personal accident and health segment with 12.9% in 2013.
  • Certain amendments were implemented in the technical provisions in the Insurance Law, which came into effect in August 2012. These include provisions for bonuses and discounts, special technical provisions, provisions for reserved claims, provisions for unearned premiums, and risk equalization reserves.
  • According to the World Bank, Montenegro had the highest per capita income in south-east Europe in 2013.
  • Poverty is a major challenge in Montenegro. Despite the slight economic recovery and increased FDI, the poverty rate increased from 6.8% in 2009 to 11.3% in 2012, according to the World Bank.
  • Low premium rates per policyholder and high operating expenses for insurers are likely to be challenges over the forecast period.
  • The Montenegrin insurance industry was served by six life insurers and five non-life insurers in 2013.
Table of Contents

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Montenegrin Insurance Industry Overview
3.1 The Montenegrin Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges

4 Industry Segmentation
4.1 Life Insurance
4.2 Individual Life Insurance
4.3 Life Insurance by Category
4.3.1 Individual whole life insurance
4.3.2 Individual general annuity insurance
4.3.3 Individual supplementary insurance
4.4 Non-Life Insurance
4.4.1 Property insurance
4.4.2 Motor insurance
4.4.3 Liability insurance
4.4.4 Marine, aviation and transit insurance
4.5 Personal Accident and Health Insurance
4.5.1 Personal accident insurance
4.5.2 Health insurance
4.5.3 Travel insurance
4.6 Reinsurance

5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Marine, aviation and transit insurance
5.2.5 Personal accident and health insurance
5.3 Compulsory Insurance
5.3.1 Transport insurance
5.3.2 Health insurance
5.3.3 Workmen’s compensation insurance
5.3.4 Social insurance system
5.4 Supervision and Control
5.4.1 International Association of Insurance Supervisors
5.4.2 Insurance Supervision Agency
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market practices
5.5.4 Fines and penalties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Alternative dispute resolution (ADR)

6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 Grawe osiguranje AD, Podgorica – company overview
6.2.2 Merkur osiguranje AD – company overview
6.2.3 Lovćen osiguranje AD – company overview
6.2.4 Delta Generali Osiguranje AD – company overview

7 Economic Indicators
7.1 GDP at Constant Prices (US$)
7.2 GDP at Current Prices (US$)
7.3 GDP per Capita at Current Prices (US$)
7.4 Inflation
7.5 Total Life Expectancy
7.6 Total Internet Users
7.7 Total Labor Force
7.8 Urban and Rural Populations
7.9 Total Population

8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric’s Services
8.5 Disclaimer

List of Table

Table 1: Insurance Industry Definitions
Table 2: Montenegrin Insurance – Gross Written Premium by Segment (EUR Million), 2009–2013
Table 3: Montenegrin Insurance – Gross Written Premium by Segment (US$ Million), 2009–2013
Table 4: Montenegrin Insurance – Gross Written Premium by Segment (EUR Million), 2013–2018
Table 5: Montenegrin Insurance – Gross Written Premium by Segment (US$ Million), 2013–2018
Table 6: Montenegrin Insurance – Segmentation by Gross Written Premium (% Share), 2009–2018
Table 7: Montenegrin Insurance – Direct Written Premium by Segment (EUR Million), 2009–2013
Table 8: Montenegrin Insurance – Direct Written Premium by Segment (US$ Million), 2009–2013
Table 9: Montenegrin Insurance – Direct Written Premium by Segment (EUR Million), 2013–2018
Table 10: Montenegrin Insurance – Direct Written Premium by Segment (US$ Million), 2013–2018
Table 11: Montenegrin Insurance – Segmentation by Direct Written Premium (% Share), 2009–2018
Table 12: Montenegrin Life Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 13: Montenegrin Life Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 14: Montenegrin Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2009–2013
Table 15: Montenegrin Individual Life Insurance – Gross Written Premium by Category (US$ Million), 2009–2013
Table 16: Montenegrin Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2013–2018
Table 17: Montenegrin Individual Life Insurance – Gross Written Premium by Category (US$ Million), 2013–2018
Table 18: Montenegrin Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2009–2013
Table 19: Montenegrin Individual Life Insurance – Direct Written Premium by Category (US$ Million), 2009–2013
Table 20: Montenegrin Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2013–2018
Table 21: Montenegrin Individual Life Insurance – Direct Written Premium by Category (US$ Million), 2013–2018
Table 22: Montenegrin Life Insurance – Paid Claims (EUR Million), 2009–2013
Table 23: Montenegrin Life Insurance – Paid Claims (EUR Million), 2013–2018
Table 24: Montenegrin Life Insurance – Incurred Loss (EUR Million), 2009–2013
Table 25: Montenegrin Life Insurance – Incurred Loss (EUR Million), 2013–2018
Table 26: Montenegrin Life Insurance – Loss Ratio (%), 2009–2013
Table 27: Montenegrin Life Insurance – Loss Ratio (%), 2013–2018
Table 28: Montenegrin Life Insurance – Combined Ratio (%), 2009–2013
Table 29: Montenegrin Life Insurance – Combined Ratio (%), 2013–2018
Table 30: Montenegrin Life Insurance – Total Assets (EUR Million), 2009–2013
Table 31: Montenegrin Life Insurance – Total Assets (EUR Million), 2013–2018
Table 32: Montenegrin Life Insurance – Retentions (EUR Million), 2009–2013
Table 33: Montenegrin Life Insurance – Retentions (EUR Million), 2013–2018
Table 34: Montenegrin Life Insurance – Total Investment (EUR Million), 2009–2013
Table 35: Montenegrin Individual Whole Life Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 36: Montenegrin Individual Whole Life Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 37: Montenegrin Individual General Annuity Insurance – Gross Written Premium (EUR), 2009–2013
Table 38: Montenegrin Individual General Annuity Insurance – Gross Written Premium (EUR), 2013–2018
Table 39: Montenegrin Individual Supplementary Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 40: Montenegrin Individual Supplementary Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 41: Montenegrin Non-Life Insurance – Gross Written Premium by Category (EUR Million), 2009–2013
Table 42: Montenegrin Non-Life Insurance – Gross Written Premium by Category (US$ Million), 2009–2013
Table 43: Montenegrin Non-Life Insurance – Gross Written Premium by Category (EUR Million), 2013–2018
Table 44: Montenegrin Non-Life Insurance – Gross Written Premium by Category (US$ Million), 2013–2018
Table 45: Montenegrin Non-Life Insurance – Direct Written Premium by Category (EUR Million), 2009–2013
Table 46: Montenegrin Non-Life Insurance – Direct Written Premium by Category (US$ Million), 2009–2013
Table 47: Montenegrin Non-Life Insurance – Direct Written Premium by Category (EUR Million), 2013–2018
Table 48: Montenegrin Non-Life Insurance – Direct Written Premium by Category (US$ Million), 2013–2018
Table 49: Montenegrin Non-Life Insurance – Paid Claims (EUR Million), 2009–2013
Table 50: Montenegrin Non-Life Insurance – Paid Claims (EUR Million), 2013–2018
Table 51: Montenegrin Non-Life Insurance – Incurred Loss (EUR Million), 2009–2013
Table 52: Montenegrin Non-Life Insurance – Incurred Loss (EUR Million), 2013–2018
Table 53: Montenegrin Non-Life Insurance – Loss Ratio (%), 2009–2013
Table 54: Montenegrin Non-Life Insurance – Loss Ratio (%), 2013–2018
Table 55: Montenegrin Non-Life Insurance – Combined Ratio (%), 2009–2013
Table 56: Montenegrin Non-Life Insurance – Combined Ratio (%), 2013–2018
Table 57: Montenegrin Non-Life Insurance – Total Assets (EUR Million), 2009–2013
Table 58: Montenegrin Non-Life Insurance – Total Assets (EUR Million), 2013–2018
Table 59: Montenegrin Non-Life Insurance – Retentions (EUR Million), 2009–2013
Table 60: Montenegrin Non-Life Insurance – Retentions (EUR Million), 2013–2018
Table 61: Montenegrin Non-Life Insurance – Total Investment (EUR Million), 2009–2013
Table 62: Montenegrin Property Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 63: Montenegrin Property Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 64: Montenegrin Motor Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 65: Montenegrin Motor Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 66: Montenegrin Liability Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 67: Montenegrin Liability Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 68: Montenegrin Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 69: Montenegrin Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 70: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (EUR Million), 2009–2013
Table 71: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2009–2013
Table 72: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (EUR Million), 2013–2018
Table 73: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2013–2018
Table 74: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (EUR Million), 2009–2013
Table 75: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2009–2013
Table 76: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (EUR Million), 2013–2018
Table 77: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2013–2018
Table 78: Montenegrin Personal Accident and Health Insurance – Paid Claim (EUR Million), 2009–2013
Table 79: Montenegrin Personal Accident and Health Insurance – Paid Claim (EUR Million), 2013–2018
Table 80: Montenegrin Personal Accident and Health Insurance – Incurred Loss (EUR Million), 2009–2013
Table 81: Montenegrin Personal Accident and Health Insurance – Incurred Loss (EUR Million), 2013–2018
Table 82: Montenegrin Personal Accident and Health Insurance – Loss Ratio (%), 2009–2013
Table 83: Montenegrin Personal Accident and Health Insurance – Loss Ratio (%), 2013–2018
Table 84: Montenegrin Personal Accident and Health Insurance – Combined Ratio (%), 2009–2013
Table 85: Montenegrin Personal Accident and Health Insurance – Combined Ratio (%), 2013–2018
Table 86: Montenegrin Personal Accident and Health Insurance – Total Assets (EUR Million), 2009–2013
Table 87: Montenegrin Personal Accident and Health Insurance – Total Assets (EUR Million), 2013–2018
Table 88: Montenegrin Personal Accident and Health Insurance – Retentions (EUR Million), 2009–2013
Table 89: Montenegrin Personal Accident and Health Insurance – Retentions (EUR Million), 2013–2018
Table 90: Montenegrin Personal Accident and Health Insurance – Total Investment (EUR Million), 2009–2013
Table 91: Montenegrin Personal Accident Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 92: Montenegrin Personal Accident Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 93: Montenegrin Health Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 94: Montenegrin Health Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 95: Montenegrin Travel Insurance – Gross Written Premium (EUR Million), 2009–2013
Table 96: Montenegrin Travel Insurance – Gross Written Premium (EUR Million), 2013–2018
Table 97: Montenegrin Reinsurance – Ceded by Insurance Segment (EUR Million), 2009–2013
Table 98: Montenegrin Reinsurance – Ceded by Insurance Segment (US$ Million), 2009–2013
Table 99: Montenegrin Reinsurance – Ceded by Insurance Segment (EUR Million), 2013–2018
Table 100: Montenegrin Reinsurance – Ceded by Insurance Segment (US$ Million), 2013–2018
Table 101: Montenegrin Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 102: Montenegrin Life Insurance – Percentage of Reinsurance Ceded (%),2013–2018
Table 103: Montenegrin Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 104: Montenegrin Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 105: Montenegrin Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 106: Montenegrin Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 107: Montenegro – Life Insurance Regulatory Framework
Table 108: Montenegro – Property Insurance Regulatory Framework
Table 109: Montenegro – Motor Insurance Regulatory Framework
Table 110: Montenegro – Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 111: Montenegro – Corporate Tax Rates for the Financial Year 2013
Table 112: Montenegrin Life Insurance – Segment Shares, 2012 and 2013
Table 113: Montenegrin Non-Life Insurance – Segment Shares, 2012 and 2013
Table 114: Grawe osiguranje AD, Podgorica, Main Products
Table 115: Grawe osiguranje AD, Podgorica, Key Employees
Table 116: Merkur osiguranje AD, Main Products
Table 117: Merkur osiguranje AD, Key Employees
Table 118: Lovćen osiguranje AD, Main Products
Table 119: Lovćen osiguranje AD, Key Employees
Table 120: Delta Generali Osiguranje AD, Main Products

List of Chart

Figure 1: Montenegrin Insurance – Gross Written Premium by Segment (EUR Million), 2009–2018
Figure 2: Montenegrin Insurance – Gross Written Premium Dynamics by Segment, 2009–2018
Figure 3: Montenegrin Insurance – Direct Written Premium by Segment (EUR Million), 2009–2018
Figure 4: Montenegrin Insurance – Direct Written Premium Dynamics by Segment, 2009–2018
Figure 5: Montenegrin Life Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 6: Montenegrin Life Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 7: Montenegrin Individual Life Insurance – Gross Written Premium by Category (EUR Million), 2009–2018
Figure 8: Montenegrin Individual Life Insurance – Gross Written Premium Dynamics by Category, 2009–2018
Figure 9: Montenegrin Individual Life Insurance – Direct Written Premium by Category (EUR Million), 2009–2018
Figure 10: Montenegrin Individual Life Insurance – Direct Written Premium Dynamics by Category, 2009–2018
Figure 11: Montenegrin Life Insurance – Paid Claims (EUR Million), 2009–2013
Figure 12: Montenegrin Life Insurance – Paid Claims (EUR Million), 2013–2018
Figure 13: Montenegrin Life Insurance – Incurred Loss (EUR Million), 2009–2013
Figure 14: Montenegrin Life Insurance – Incurred Loss (EUR Million), 2013–2018
Figure 15: Montenegrin Life Insurance – Loss Ratio (%), 2009–2013
Figure 16: Montenegrin Life Insurance – Loss Ratio (%), 2013–2018
Figure 17: Montenegrin Life Insurance – Combined Ratio (%), 2009–2013
Figure 18: Montenegrin Life Insurance – Combined Ratio (%), 2013–2018
Figure 19: Montenegrin Life Insurance – Total Assets (EUR Million), 2009–2013
Figure 20: Montenegrin Life Insurance – Total Assets (EUR Million), 2013–2018
Figure 21: Montenegrin Life Insurance – Retentions (EUR Million), 2009–2013
Figure 22: Montenegrin Life Insurance – Retentions (EUR Million), 2013–2018
Figure 23: Montenegrin Life Insurance – Total Investment (EUR Million), 2009–2013
Figure 24: Montenegrin Life Insurance – Penetration (%), 2009–2013
Figure 25: Montenegrin Life Insurance – Premium per Capita (EUR), 2009–2013
Figure 26: Montenegrin Individual Whole Life Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 27: Montenegrin Individual Whole Life Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 28: Montenegrin Individual General Annuity Insurance – Gross Written Premium (EUR), 2009–2013
Figure 29: Montenegrin Individual General Annuity Insurance – Gross Written Premium (EUR), 2013–2018
Figure 30: Montenegrin Individual Supplementary Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 31: Montenegrin Individual Supplementary Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 32: Montenegrin Non-Life Insurance – Gross Written Premium by Category (EUR Million), 2009–2018
Figure 33: Montenegrin Non-Life Insurance – Gross Written Premium by Category (%), 2013 and 2018
Figure 34: Montenegrin Non-Life Insurance – Gross Written Premium Dynamics by Category, 2009–2018
Figure 35: Montenegrin Non-Life Insurance – Direct Written Premium by Category (EUR Million), 2009–2018
Figure 36: Montenegrin Non-Life Insurance – Direct Written Premium by Category (%), 2013 and 2018
Figure 37: Montenegrin Non-Life Insurance – Direct Written Premium Dynamics by Category, 2009–2018
Figure 38: Montenegrin Non-Life Insurance – Paid Claims (EUR Million), 2009–2013
Figure 39: Montenegrin Non-Life Insurance – Paid Claims (EUR Million), 2013–2018
Figure 40: Montenegrin Non-Life Insurance – Incurred Loss (EUR Million), 2009–2013
Figure 41: Montenegrin Non-Life Insurance – Incurred Loss (EUR Million), 2013–2018
Figure 42: Montenegrin Non-Life Insurance – Loss Ratio (%), 2009–2013
Figure 43: Montenegrin Non-Life Insurance – Loss Ratio (%), 2013–2018
Figure 44: Montenegrin Non-Life Insurance – Combined Ratio (%), 2009–2013
Figure 45: Montenegrin Non-Life Insurance – Combined Ratio (%), 2013–2018
Figure 46: Montenegrin Non-Life Insurance – Total Assets (EUR Million), 2009–2013
Figure 47: Montenegrin Non-Life Insurance – Total Assets (EUR Million), 2013–2018
Figure 48: Montenegrin Non-Life Insurance – Retentions (EUR Million), 2009–2013
Figure 49: Montenegrin Non-Life Insurance – Retentions (US$ Million), 2013–2018
Figure 50: Montenegrin Non-Life Insurance – Total Investment (EUR Million), 2009–2013
Figure 51: Montenegrin Non-Life Insurance Penetration (%), 2009–2013
Figure 52: Montenegrin Non-Life Insurance – Premium Per Capita (EUR), 2009–2013
Figure 53: Montenegrin Property Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 54: Montenegrin Property Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 55: Montenegrin Motor Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 56: Montenegrin Motor Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 57: Montenegrin Liability Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 58: Montenegrin Liability Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 59: Montenegrin Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 60: Montenegrin Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 61: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (EUR Million), 2009–2018
Figure 62: Montenegrin Personal Accident and Health Insurance – Gross Written Premium by Category (%), 2013 and 2018
Figure 63: Montenegrin Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2009–2018
Figure 64: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (EUR Million), 2009–2018
Figure 65: Montenegrin Personal Accident and Health Insurance – Direct Written Premium by Category (%), 2013 and 2018
Figure 66: Montenegrin Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2009–2018
Figure 67: Montenegrin Personal Accident and Health Insurance – Paid Claims by Category (EUR Million), 2009–2013
Figure 68: Montenegrin Personal Accident and Health Insurance – Paid Claims (EUR Million), 2013–2018
Figure 69: Montenegrin Personal Accident and Health Insurance – Incurred Loss (EUR Million), 2009–2013
Figure 70: Montenegrin Personal Accident and Health Insurance – Incurred Loss (EUR Million), 2013–2018
Figure 71: Montenegrin Personal Accident and Health Insurance – Loss Ratio (%), 2009–2013
Figure 72: Montenegrin Personal Accident and Health Insurance – Loss Ratio (%), 2013–2018
Figure 73: Montenegrin Personal Accident and Health Insurance – Combined Ratio (%), 2009–2013
Figure 74: Montenegrin Personal Accident and Health Insurance – Combined Ratio (%), 2013–2018
Figure 75: Montenegrin Personal Accident and Health Insurance – Total Assets (EUR Million), 2009–2013
Figure 76: Montenegrin Personal Accident and Health Insurance – Total Assets (EUR Million), 2013–2018
Figure 77: Montenegrin Personal Accident and Health Insurance – Retentions (EUR Million), 2009–2013
Figure 78: Montenegrin Personal Accident and Health Insurance – Retentions (EUR Million), 2013–2018
Figure 79: Montenegrin Personal Accident and Health Insurance – Total Investment (EUR Million), 2009–2013
Figure 80: Montenegrin Personal Accident and Health Insurance Penetration (%), 2009–2013
Figure 81: Montenegrin Personal Accident and Health Insurance – Premium Per Capita (EUR), 2009–2013
Figure 82: Montenegrin Personal Accident Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 83: Montenegrin Personal Accident Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 84: Montenegrin Health Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 85: Montenegrin Health Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 86: Montenegrin Travel Insurance – Gross Written Premium (EUR Million), 2009–2013
Figure 87: Montenegrin Travel Insurance – Gross Written Premium (EUR Million), 2013–2018
Figure 88: Montenegrin Reinsurance – Ceded by Insurance Segment (EUR Million), 2009–2018
Figure 89: Montenegrin Reinsurance – Dynamics by Insurance Segment, 2009–2018
Figure 90: Montenegrin Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 91: Montenegrin Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 92: Montenegrin Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 93: Montenegrin Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 94: Montenegrin Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 95: Montenegrin Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 96: Montenegro – Insurance Regulatory Framework
Figure 97: Montenegro – Insurance Supervision and Control at Various Levels
Figure 98: Montenegro – Insurance Regulatory Frameworks for Company Registration and Operation
Figure 99: Montenegrin Life Insurance – Segment Shares, 2012 and 2013
Figure 100: Montenegrin Non-Life Insurance – Segment Shares, 2012 and 2013
Figure 101: Montenegrin GDP at Constant Prices (US$ Billion), 2009–2013
Figure 102: Montenegrin GDP at Current Prices (US$ Billion), 2009–2013
Figure 103: Montenegrin GDP Per Capita at Current Prices (US$), 2009–2013
Figure 104: Montenegrin Inflation Rate (%), 2009–2013
Figure 105: Montenegrin Total Life Expectancy (Years), 2009–2013
Figure 106: Montenegrin Total Internet Users (Thousand), 2008–2012
Figure 107: Montenegrin Total Labor Force (Thousand), 2008–2012
Figure 108: Montenegrin Urban and Rural Populations (%), 2009–2013
Figure 109: Montenegrin Total Population (Thousand), 2009–2013

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