//Bosnia and Herzegovina
Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Bosnia and Herzegovina Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Bosnia and Herzegovina includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
The break-up of the former Yugoslavia led to war between the three ethnic communities in Bosnia and Herzegovina (BiH) between 1992 and 1995. This was resolved by the Dayton Peace Agreement, which established a weak central government and devolved most power to two autonomous entities: the Federation in the west of the country occupied principally by Muslims and Croats, and Republika Srpska (RS) in the north and east occupied mainly by Serbs. Responsibility for insurance is devolved upon the two entities. There are separate insurance, compulsory insurance and intermediary laws in the Federation and RS and separate insurance supervisory agencies in both entities. Insurance companies licensed in one entity are not allowed to write business in the other without establishing branches. BiH is one of the smallest countries in the world to boast its own professional reinsurance company, Bosna Re. This has a statutory monopoly of inwards and outwards reinsurance in the Federation, but not in RS.