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Synopsis
Timetric’s 'The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Bosnian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bosnian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and 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.

Summary
Timetric’s 'The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Bosnian insurance industry, including:

- The Bosnian insurance industry's growth prospects by segment and category

- A comprehensive overview of the Bosnian economy and demographics

- The detailed competitive landscape in the Bosnian insurance industry

- The various distribution channels in the Bosnian insurance industry

- Details of regulatory policy applicable to the Bosnian insurance industry

- Analysis of natural hazards in Bosnia and Herzegovina

Scope
This report provides a comprehensive analysis of the insurance industry in Bosnia and Herzegovina:

- It provides historical values for the Bosnian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Bosnian insurance industry, with market forecasts to 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It analyzes the various distribution channels in Bosnia and Herzegovina.

- It profiles the top insurance companies in Bosnia and Herzegovina and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bosnian insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Bosnian insurance industry.

- Assess the competitive dynamics in the Bosnian insurance industry.

- Identify growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Bosnian insurance industry and their impact on companies and the industry's future.

Key Highlights
- Despite economic challenges and poor living standards, the insurance industry posted a review-period CAGR of 4.5%.

- Rising public awareness of the benefits of insurance products and aggressive promotions by insurers supported the industry’s overall growth.

- Factors such as aggressive promotions by life insurers, rising consumer awareness of savings products, and compulsory life insurance for bank loans supported life insurance’s growth during the review period.

-Mandatory insurance classes dominate the industry; the motor category accounted for 80.1% of the non-life gross written premium in 2014.

- The impletion of bonus-malus by the authority is expected to enable policyholders with good claims histories to benefit from discounts on premium renewals.

- Insurance providers in Bosnia and Herzegovina demonstrated strong in-house underwriting expertise by ceding a limited proportion of revenues to reinsurance.

- The introduction of new insurance products, business transparency and measures to spread awareness of the benefits of insurance are expected to raise the penetration and premium per capita levels over the forecast period.

Table Of Contents

The Insurance Industry in Bosnia and Herzegovina, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Bosnian Insurance Industry Overview
4.1 The Bosnian Insurance Industry
5 Life Insurance
6 Non-Life Insurance
6.1 Property Insurance
6.2 Motor Insurance
6.3 Liability Insurance
6.4 Marine, Aviation and Transit Insurance
7 Personal Accident and Health Insurance
7.1 Personal Accident Insurance
7.2 Health Insurance
7.3 Travel Insurance
8 Reinsurance
9 Distribution Channel Analysis
10 Natural Hazards
10.1 Floods
10.2 Droughts and Extreme Temperatures
10.3 Landslides
10.4 Exposure
11 Competitive Landscape
11.1 Overview
11.2 Leading Companies
11.2.1 Sarajevo-osiguranje dd - company overview
11.2.2 Uniqa osiguranje dd - company overview
11.2.3 Euroherc osiguranje dd - company overview
11.2.4 Bosna-Sunce osiguranje dd - company overview
11.2.5 Croatia osiguranje dd - company overview
12 Governance, Risk and Compliance
12.1 Legislation Overview and Historical Evolution
12.2 Latest Changes in Regulations
12.3 Legislation and Market Practice by Type of Insurance
12.3.1 Life insurance
12.3.2 Property insurance
12.3.3 Motor insurance
12.3.4 Liability insurance
12.3.5 Marine, aviation and transit insurance
12.3.6 Personal accident and health insurance
12.4 Compulsory Insurance
12.4.1 Motor third-party liability insurance
12.4.2 Social security system
12.5 Supervision and Control
12.5.1 Insurance Supervisory Agency of Federation of Bosnia and Herzegovina
12.5.2 Insurance Agency of Bosnia and Herzegovina
12.5.3 Insurance Agency of the Republic of Srpska
12.6 Non-Admitted Insurance Regulations
12.6.1 Overview
12.6.2 Intermediaries
12.6.3 Market practices
12.6.4 Fines and penalties
12.7 Company Registration and Operations
12.7.1 Types of insurance organization
12.7.2 Establishing a local company
12.7.3 Foreign ownership
12.7.4 Types of license
12.7.5 Capital requirements
12.7.6 Solvency margins
12.7.7 Reserve requirements
12.7.8 Investment regulations
12.7.9 Statutory return requirements
12.7.10 Fee structure
12.8 Taxation
12.8.1 Insurance premium or policy taxation
12.8.2 Withholding taxes on premium paid overseas
12.8.3 Corporate tax
12.8.4 VAT
12.8.5 Captives
12.9 Legal System
12.9.1 Introduction
12.9.2 Access to court
12.9.3 Alternative dispute resolution (ADR)
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About Timetric
14.1 Contact Timetric
14.2 About Timetric
14.3 Timetric's Services
14.4 Disclaimer

List of Tables
Table 1: Bosnian Insurance Industry - Key Facts
Table 2: Bosnian Government Credit Ratings
Table 3: Bosnian Insurance - Gross Written Premium by Segment (BAM Million), 2010-2014
Table 4: Bosnian Insurance - Gross Written Premium by Segment (US$ Million), 2010-2014
Table 5: Bosnian Insurance - Gross Written Premium by Segment (BAM Million), 2014-2019
Table 6: Bosnian Insurance - Gross Written Premium by Segment (US$ Million), 2014-2019
Table 7: Bosnian Insurance - Segmentation by Gross Written Premium (% Share), 2010-2019
Table 8: Bosnian Insurance - Direct Written Premium by Segment (BAM Million), 2010-2014
Table 9: Bosnian Insurance - Direct Written Premium by Segment (US$ Million), 2010-2014
Table 10: Bosnian Insurance - Direct Written Premium by Segment (BAM Million), 2014-2019
Table 11: Bosnian Insurance - Direct Written Premium by Segment (US$ Million), 2014-2019
Table 12: Bosnian Insurance - Segmentation by Direct Written Premium (%), 2010-2019
Table 13: Bosnian Life Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 14: Bosnian Life Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 15: Bosnian Life Insurance - Direct Written Premium (BAM Million), 2010-2014
Table 16: Bosnian Life Insurance - Direct Written Premium (BAM Million), 2014-2019
Table 17: Bosnian Life Insurance - Paid Claims (BAM Million), 2010-2014
Table 18: Bosnian Life Insurance - Paid Claims (BAM Million), 2014-2019
Table 19: Bosnian Life Insurance - Total Assets (BAM Million), 2010-2014
Table 20: Bosnian Life Insurance - Total Assets (BAM Million), 2014-2019
Table 21: Bosnian Life Insurance - Net Written Premium (BAM Million), 2010-2014
Table 22: Bosnian Life Insurance - Net Written Premium (BAM Million), 2014-2019
Table 23: Bosnian Non-Life Insurance - Gross Written Premium by Category (BAM Million), 2010-2014
Table 24: Bosnian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 25: Bosnian Non-Life Insurance - Gross Written Premium by Category (BAM Million), 2014-2019
Table 26: Bosnian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 27: Bosnian Non-Life Insurance - Direct Written Premium by Category (BAM Million), 2010-2014
Table 28: Bosnian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 29: Bosnian Non-Life Insurance - Direct Written Premium by Category (BAM Million), 2014-2019
Table 30: Bosnian Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 31: Bosnian Non-Life Insurance - Paid Claims (BAM Million), 2010-2014
Table 32: Bosnian Non-Life Insurance - Paid Claims (BAM Million), 2014-2019
Table 33: Bosnian Non-Life Insurance - Total Assets (BAM Million), 2010-2014
Table 34: Bosnian Non-Life Insurance - Total Assets (BAM Billion), 2014-2019
Table 35: Bosnian Non-Life Insurance - Net Written Premium (BAM Million), 2010-2014
Table 36: Bosnian Non-Life Insurance - Net Written Premium (BAM Million), 2014-2019
Table 37: Bosnian Property Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 38: Bosnian Property Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 39: Bosnian Motor Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 40: Bosnian Motor Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 41: Bosnian Liability Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 42: Bosnian Liability Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 43: Bosnian Marine, Aviation and Transit Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 44: Bosnian Marine, Aviation and Transit Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 45: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (BAM Million), 2010-2014
Table 46: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 47: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (BAM Million), 2014-2019
Table 48: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 49: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (BAM Million), 2010-2014
Table 50: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
Table 51: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (BAM Million), 2014-2019
Table 52: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
Table 53: Bosnian Personal Accident and Health Insurance - Paid Claims (BAM Million), 2010-2014
Table 54: Bosnian Personal Accident and Health Insurance - Paid Claims (BAM Million), 2014-2019
Table 55: Bosnian Personal Accident and Health Insurance - Total Assets (BAM Million), 2010-2014
Table 56: Bosnian Personal Accident and Health Insurance - Total Assets (BAM Million), 2014-2019
Table 57: Bosnian Personal Accident and Health Insurance - Net Written Premium (BAM Million), 2010-2014
Table 58: Bosnian Personal Accident and Health Insurance - Net Written Premium (BAM Million), 2014-2019
Table 59: Bosnian Personal Accident Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 60: Bosnian Personal Accident Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 61: Bosnian Health Insurance - Gross Written Premium (BAM Million), 2010-2014
Table 62: Bosnian Health Insurance - Gross Written Premium (BAM Million), 2014-2019
Table 63: Bosnian Travel Insurance - Gross Written Premium (BAM Thousand), 2010-2014
Table 64: Bosnian Travel Insurance - Gross Written Premium (BAM Thousand), 2014-2019
Table 65: Bosnian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (BAM Million), 2010-2014
Table 66: Bosnian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2010-2014
Table 67: Bosnian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (BAM Million), 2014-2019
Table 68: Bosnian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2014-2019
Table 69: Bosnian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
Table 70: Bosnian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
Table 71: Bosnian Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
Table 72: Bosnian Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
Table 73: Bosnian Average Annual Loss by Hazard
Table 74: Bosnian Insurance - Industry Shares, 2014
Table 75: Bosnian Life Insurance - Segment Shares, 2014
Table 76: Bosnian Non-Life Insurance - Segment Shares, 2014
Table 77: Sarajevo-Osiguranje dd - Key Facts
Table 78: Uniqa Osiguranje dd - Key Facts
Table 79: Euroherc Osiguranje dd - Key Facts
Table 80: Bosna-Sunce Osiguranje dd - Key Facts
Table 81: Croatia Osiguranje dd - Key Facts
Table 82: Bosnia and Herzegovina - Insurance Regulatory Framework Key Features
Table 83: Bosnia and Herzegovina - Life Insurance Regulatory Framework
Table 84: Bosnia and Herzegovina - Property Insurance Regulatory Framework
Table 85: Bosnia and Herzegovina - Motor Insurance Regulatory Framework
Table 86: Bosnia and Herzegovina - Liability Insurance Regulatory Framework
Table 87: Bosnia and Herzegovina - Corporate Tax Rates for the Financial Year 2015
Table 88: Insurance Industry Definitions

List of Figures
Figure 1: Bosnian Real GDP (BAM Billion) , 2010-2019
Figure 2: Bosnian Consumer Price Inflation, 2010-2019
Figure 3: BAM-US$ Exchange Rate, 2010-2019
Figure 4: Bosnian Unemployment Rate, 2010-2019
Figure 5: Bosnian Population by Age Group, 1991-2025
Figure 6: Bosnian Insurance - Gross Written Premium by Segment (BAM Million), 2010-2019
Figure 7: Bosnian Insurance - Gross Written Premium Market Dynamics by Segment, 2010-2019
Figure 8: Bosnian Insurance - Direct Written Premium by Segment (BAM Million), 2010-2019
Figure 9: Bosnian Insurance - Direct Written Premium Market Dynamics by Segment, 2010-2019
Figure 10: Bosnian Life Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 11: Bosnian Life Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 12: Bosnian Life Insurance - Direct Written Premium (BAM Billion), 2010-2014
Figure 13: Bosnian Life Insurance - Direct Written Premium (BAM Billion), 2014-2019
Figure 14: Bosnian Life Insurance - Paid Claims (BAM Million), 2010-2014
Figure 15: Bosnian Life Insurance - Paid Claims (BAM Million), 2014-2019
Figure 16: Bosnian Life Insurance - Total Assets (BAM Million), 2010-2014
Figure 17: Bosnian Life Insurance - Total Assets (BAM Million), 2014-2019
Figure 18: Bosnian Life Insurance - Net Written Premium (BAM Million), 2010-2014
Figure 19: Bosnian Life Insurance - Net Written Premium (BAM Million), 2014-2019
Figure 20: Bosnian Life Insurance - Penetration (%), 2010-2014
Figure 21: Bosnian Life Insurance - Direct Premium per Capita (BAM), 2010-2014
Figure 22: Bosnian Non-Life Insurance - Gross Written Premium by Category (BAM Million), 2010-2019
Figure 23: Bosnian Non-Life Insurance - Gross Written Premium by Category (%), 2014 and 2019
Figure 24: Bosnian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 25: Bosnian Non-Life Insurance - Direct Written Premium by Category (BAM Million), 2010-2019
Figure 26: Bosnian Non-Life Insurance - Direct Written Premium by Category (%), 2014 and 2019
Figure 27: Bosnian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 28: Bosnian Non-Life Insurance - Paid Claims (BAM Million), 2010-2014
Figure 29: Bosnian Non-Life Insurance - Paid Claims (BAM Million), 2014-2019
Figure 30: Bosnian Non-Life Insurance - Total Assets (BAM Million), 2010-2014
Figure 31: Bosnian Non-Life Insurance - Total Assets (BAM Billion), 2014-2019
Figure 32: Bosnian Non-Life Insurance - Net Written Premium (BAM Million), 2010-2014
Figure 33: Bosnian Non-Life Insurance - Net Written Premium (BAM Million), 2014-2019
Figure 34: Bosnian Non-Life Insurance - Penetration (%), 2010-2014
Figure 35: Bosnian Non-Life Insurance - Direct Premium per Capita (BAM), 2010-2014
Figure 36: Bosnian Property Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 37: Bosnian Property Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 38: Bosnian Motor Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 39: Bosnian Motor Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 40: Bosnian Liability Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 41: Bosnian Liability Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 42: Bosnian Marine, Aviation and Transit Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 43: Bosnian Marine, Aviation and Transit Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 44: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (BAM Million), 2010-2019
Figure 45: Bosnian Personal Accident and Health Insurance - Gross Written Premium by Category (%), 2014 and 2019
Figure 46: Bosnian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 47: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (BAM Million), 2010-2019
Figure 48: Bosnian Personal Accident and Health Insurance - Direct Written Premium by Category (%), 2014 and 2019
Figure 49: Bosnian Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 50: Bosnian Personal Accident and Health Insurance - Paid Claims by Category (BAM Million), 2010-2014
Figure 51: Bosnian Personal Accident and Health Insurance - Paid Claims (BAM Million), 2014-2019
Figure 52: Bosnian Personal Accident and Health Insurance - Total Assets (BAM Million), 2010-2014
Figure 53: Bosnian Personal Accident and Health Insurance - Total Assets (BAM Million), 2014-2019
Figure 54: Bosnian Personal Accident and Health Insurance - Net Written Premium (BAM Million), 2010-2014
Figure 55: Bosnian Personal Accident and Health Insurance - Net Written Premium (BAM Million), 2014-2019
Figure 56: Bosnian Personal Accident and Health Insurance - Penetration (%), 2010-2014
Figure 57: Bosnian Personal Accident and Health Insurance - Direct Premium per Capita (BAM), 2010-2014
Figure 58: Bosnian Personal Accident Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 59: Bosnian Personal Accident Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 60: Bosnian Health Insurance - Gross Written Premium (BAM Million), 2010-2014
Figure 61: Bosnian Health Insurance - Gross Written Premium (BAM Million), 2014-2019
Figure 62: Bosnian Travel Insurance - Gross Written Premium (BAM Thousand), 2010-2014
Figure 63: Bosnian Travel Insurance - Gross Written Premium (BAM Thousand), 2014-2019
Figure 64: Bosnian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (BAM Million), 2010-2019
Figure 65: Bosnian Reinsurance - Dynamics by Insurance Segment, 2010-2019
Figure 66: Bosnian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
Figure 67: Bosnian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
Figure 68: Bosnian Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
Figure 69: Bosnian Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2014-2019
Figure 70: Bosnian Frequency of Hazards by Type, 1990-2014
Figure 71: Bosnian Mortality of Hazards by Type, 1990-2014
Figure 72: Bosnian Economic Issues of Hazards by Type, 1990-2014
Figure 73: Bosnian Insurance - Industry Shares, 2014
Figure 74: Bosnian Life Insurance - Segment Shares, 2014
Figure 75: Bosnian Non-Life Insurance - Segment Shares, 2014
Figure 76: Bosnia and Herzegovina - Insurance Supervision and Control at the National Level
Figure 77: Bosnia and Herzegovina - Insurance Regulatory Frameworks for Company Registration and Operation

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