Bosnia and Herzegovina
Growth
Amounts are always in euros: this changes how growth is measured, nothing else.
How growth is measured →Latest news2 Nov 2026: FBiH supervisor works with HANFA experts on Solvency II readiness All news (12) →
Coverage The insurers shown cover the whole market. All insurers of both entities; the reinsurer Bosna Re is not counted. There are no branches of foreign insurers. Source.
Market share by insurer
Latest quarter: Jan–Sep 2026
Premium written Jan–Sep 2026, year to date: €480m, +4.8% against Jan–Sep 2025 in local currency. Share change in percentage points against the same period a year earlier.
Largest insurers, Jan–Sep 2026
Premium year to date and growth; the bar is the share, its change in points under it.
Gains and losses in share
Change in share against Jan–Sep 2025, in percentage points; an insurer with no premium now has lost its whole share.
- ASA Central · 20 Oct 2026: FBiH premiums up 4.5% to BAM 628.6m in January-September 2026
- Sarajevo osiguranje · 27 Apr 2026: Two investment funds sell over 8.8% of Sarajevo osiguranje at a bourse auction
- Triglav · 3 Sep 2026: BiH first-half premiums up about 5% to EUR 318m; paid claims up 11.3%
All figures
| Insurer | Jan–Sep 2026 €m | Share | Δ pp | Jan–Sep 2025 €m | Growth |
|---|---|---|---|---|---|
| ASA Central | 63.1 | 13.2% | +0.5 | 57.8 | +9.2% |
| Adriatic | 51.9 | 10.8% | +0.2 | 48.5 | +7.1% |
| Euroherc | 40.9 | 8.5% | +0.0 | 39.0 | +5.0% |
| Triglav | 36.7 | 7.7% | +0.3 | 33.9 | +8.4% |
| UNIQA | 36.5 | 7.6% | +0.2 | 33.8 | +7.8% |
| Sarajevo osiguranje | 32.5 | 6.8% | −0.4 | 32.7 | −0.6% |
| GRAWE | 23.9 | 5.0% | −0.1 | 23.5 | +1.8% |
| Croatia osiguranje | 23.5 | 4.9% | −0.0 | 22.6 | +4.0% |
| Wiener | 22.8 | 4.7% | −0.1 | 22.0 | +3.5% |
| Vienna osiguranje | 17.7 | 3.7% | −0.2 | 17.8 | −0.4% |
| Premium | 15.9 | 3.3% | +0.2 | 14.0 | +13.1% |
| GRAWE Banja Luka | 15.8 | 3.3% | −0.1 | 15.7 | +1.2% |
| Dunav | 14.7 | 3.1% | −0.0 | 14.1 | +4.5% |
| Camelija | 12.9 | 2.7% | −0.4 | 14.0 | −8.1% |
| Aura | 10.7 | 2.2% | −0.2 | 11.1 | −4.1% |
| Drina | 10.2 | 2.1% | −0.2 | 10.5 | −2.1% |
| Mikrofin (MF) | 10.2 | 2.1% | −0.0 | 9.9 | +3.4% |
| Krajina | 7.9 | 1.6% | +0.2 | 6.5 | +22.0% |
| Nešković | 7.8 | 1.6% | −0.1 | 7.7 | +0.9% |
| Brčko-gas | 7.7 | 1.6% | −0.1 | 7.9 | −2.9% |
| Euros | 7.4 | 1.5% | +0.1 | 6.7 | +11.1% |
| Garant | 7.1 | 1.5% | +0.1 | 6.4 | +10.6% |
| SAS-Super P | 1.9 | 0.4% | +0.0 | 1.7 | +14.8% |
| Market | 479.9 | 100% | 457.7 | +4.8% |
Each insurer's figures: All insurers, growth and latest quarter → · Full-year outlook →
What's happening in Bosnia and Herzegovina
The latest news on the market's insurers and their supervisor, newest first: facts in Polisa's own words, each with its source.
- SupervisorFBiH supervisor works with HANFA experts on Solvency II readiness
Croatian supervisor HANFA spent 28-30 October at the FBiH Insurance Supervision Agency, backed by the World Bank, on reviewing insurers' ORSA reports and preparing a quantitative impact study ahead of Solvency II.
Source: Insurance Supervision Agency of FBiH (ANO) - ResultsFBiH premiums up 4.5% to BAM 628.6m in January-September 2026
Insurers in the Federation wrote BAM 628.6m (EUR 321.4m) in nine months: non-life rose 5.2% to BAM 513.9m and life 1.5% to BAM 114.7m. ASA Central led with BAM 104.4m, ahead of Adriatic and Euroherc.
ASA CentralAdriaticEurohercSource: XPRIMM (FBiH supervisor data, via SeeNews) - LawFBiH supervisor drafts criteria for calculating motor TPL premium tariffs
The FBiH Insurance Supervision Agency published draft criteria that insurers in the Federation will have to apply when calculating compulsory motor TPL tariff premiums, and invited comments within ten days.
Source: Insurance Supervision Agency of FBiH (ANO) - ResultsRepublika Srpska premiums up 5.8% to BAM 277.3m in January-August 2026
Insurers in Republika Srpska wrote BAM 277.3m (EUR 141.8m) in the first eight months, according to the entity's insurance agency: non-life rose 6.2% to BAM 234.5m and life 3.7% to BAM 42.8m.
Source: XPRIMM (RS insurance agency data, via SeeNews)
8 earlier
- ResultsBiH first-half premiums up about 5% to EUR 318m; paid claims up 11.3%
Agency data put the 1H2026 market at EUR 318m and claims paid at EUR 134.6m. ASA Central (15.8%), Adriatic and Euroherc led non-life; UNIQA (26.6%), Vienna osiguranje and Triglav led life.
ASA CentralAdriaticEurohercUNIQA+2Source: XPRIMM (Insurance Agency of BiH data) - SupervisorFBiH finance ministry backs supervisor's plan to move insurers towards Solvency II
The FBiH Insurance Supervision Agency presented the Federal Ministry of Finance with an activity plan for gradually preparing the market for Solvency II, and the ministry said it supports it. No transition date was given.
Source: XPRIMM (citing ANO) - DealTwo investment funds sell over 8.8% of Sarajevo osiguranje at a bourse auction
ZIF Prof-Plus, the third-largest shareholder, sold 381,733 shares (over 8.2%) and ZIF Naprijed 29,832 shares (about 0.64%) at KM 15.5 each. Biznis Info called it an ownership consolidation; the buyers were not named.
Sarajevo osiguranjeSource: Biznis Info - CompanyThe FBiH Insurance Supervision Agency licensed ASA Reosiguranje, a new reinsurer wholly owned by ASA Finance with KM 6m of capital.Source: FBiH insurance supervisor's register (read 1 Nov 2026)
- SupervisorFBiH supervisor prepares mystery-shopping checks of motor TPL sales
The FBiH Insurance Supervision Agency opened a market consultation for a mystery-shopping service to test whether insurers, agents and other channels properly inform motor TPL buyers, in at least 20 towns.
Source: Paragraf.ba (citing Akta) - ResultsBiH premiums rose 8% to BAM 1.17bn in 2025; motor about 61% of the market
Non-life grew 8.6% to BAM 953.3m and life 5.5% to BAM 219.3m; claims paid rose 4% to BAM 489.7m. ASA led non-life with 15.4%; UNIQA led life with 23.8%, ahead of Vienna osiguranje and Triglav.
ASA CentralUNIQAVienna osiguranjeTriglavSource: XPRIMM (Insurance Agency of BiH data) - ResultsASA Central says its 2025 premiums rose 15.4% to over KM 147m
ASA Central osiguranje reported premiums above KM 147m for 2025, keeping first place in the market, and said it paid almost KM 58m on some 43,000 reported claims.
ASA CentralSource: XPRIMM - CompanyASA Group announced a new life insurer, ASA LIFE, and a reinsurer, ASA RE, to start in 2026.Source: XPRIMM (3 Feb 2026); FBiH insurance supervisor's register (read 1 Nov 2026)
Five-year trend
Premium
Market share of the five largest
Lines in Bosnia and Herzegovina
All figures
Motor TPL, FY 2025: average premium €188 per policy, 4.3 claims per 100 policies, average claim €1,634. Prices in every market on the Motor TPL page →
Claims paid in Bosnia and Herzegovina
Insurers paid €258m to their customers in FY 2025, +7.4% on FY 2024 in BAM: €43 for every €100 of premium. Non-life claims were €193m; life insurance benefits €65m.
Premium and claims paid, FY 2021–2025
PremiumClaims paid% claims paid per €100 of premium
Claims paid by line, FY 2025
Claims paid in the year by all insurers of both entities, each with its business across Bosnia and Herzegovina, before reinsurance. Source: ANO FBiH and AZORS statistics. Cash paid in the year, not the claims incurred that the combined ratios on this page are built from. Claims across all markets →
Reinsurance in Bosnia and Herzegovina
Share of non-life premium ceded, by line
Largest cedents
All figures
Capital cover across the market
Groups present
Each group's share of this market, its companies here, and where else it operates.
Profit and capital
Net profit by year
All figures
Each insurer's profit, return on equity and ratios: All insurers, solvency and profit →
Staff and premium per employee
FY 2025 premium over the insurers' reported employees. Agents, banks and group service companies are not employees, so an insurer that sells through others looks more productive: compare insurers of the same type.
Premium per employee, FY 2025
non-lifecompositelife
13 more in the full table below
Size and productivity, FY 2025
Each dot an insurer: employees across (log scale), premium per employee up; the larger the dot, the larger the premium.
By typeMedian per employee
All figures
| Insurer | Type | Employees | Premium €m | Premium per employee |
|---|---|---|---|---|
| GRAWE Banja Luka | composite | 91 | 21.8 | €240k |
| Garant | non-life | 39 | 8.6 | €220k |
| UNIQA | composite | 240 | 46.6 | €194k |
| Vienna osiguranje | life | 126 | 24.2 | €192k |
| ASA Central | non-life | 478 | 75.2 | €157k |
| Wiener | non-life | 180 | 27.9 | €155k |
| Triglav | composite | 297 | 44.1 | €148k |
| Premium | non-life | 129 | 18.7 | €145k |
| Mikrofin (MF) | non-life | 92 | 13.0 | €141k |
| Croatia osiguranje | composite | 211 | 28.5 | €135k |
| Adriatic | non-life | 469 | 62.7 | €134k |
| Nešković | non-life | 82 | 10.2 | €124k |
| Drina | non-life | 112 | 13.6 | €122k |
| Euroherc | non-life | 433 | 51.1 | €118k |
| Sarajevo osiguranje | non-life | 357 | 40.9 | €115k |
| GRAWE | composite | 286 | 31.7 | €111k |
| Euros | non-life | 79 | 8.7 | €110k |
| Krajina | non-life | 79 | 8.5 | €108k |
| Dunav | non-life | 178 | 18.2 | €102k |
| Camelija | non-life | 181 | 18.2 | €101k |
| SAS-Super P | non-life | 24 | 2.3 | €94k |
| Aura | non-life | 171 | 14.7 | €86k |
| Brčko-gas | non-life | 124 | 10.3 | €83k |
Staff: employees of the insurers licensed in Republika Srpska, from its insurance agency, and of those licensed in the Federation, from the issuer forms they file with the Sarajevo Stock Exchange (or the count at 31 December in their audited statements). Type: life where life insurance is 90% or more of the premium, non-life where it is 10% or less, composite in between. Productivity across all markets →
Questions about Bosnia and Herzegovina
Short answers from the figures on this page.
How big is the Bosnia and Herzegovina insurance market?
Insurers in Bosnia and Herzegovina wrote €600m of premium in FY 2025, +8.0% on FY 2024 in BAM. That is 2.0% of GDP and €176 per person.
Who is the largest insurer in Bosnia and Herzegovina?
ASA Central is the largest insurer in Bosnia and Herzegovina with 12.5% of premium (€75.2m) in FY 2025, ahead of Adriatic (10.5%) and Euroherc (8.5%); the three largest write 32% of the market.
How many insurance companies are there in Bosnia and Herzegovina?
23 insurers wrote premium in Bosnia and Herzegovina in FY 2025: 17 non-life, 1 life and 5 composite.
Which insurance groups are present in Bosnia and Herzegovina?
Polisa records 8 insurance groups in Bosnia and Herzegovina in FY 2025; the largest by premium are Agram 19.0%, ASA 12.5%, GRAWE 8.9%, VIG 8.7%. Insurers with no group (independent or not in a group) write 28.0% of the premium.
What is the largest line of business in Bosnia and Herzegovina?
Motor TPL is the largest line in Bosnia and Herzegovina with 49.2% of premium (€295m) in FY 2025, then life insurance with 18.7%.
How well capitalised are the insurers in Bosnia and Herzegovina?
The median solvency margin of the insurers in Bosnia and Herzegovina was 129% at 31 December 2025: the typical insurer covered its required solvency margin 1.3 times (local rules, not Solvency II). 13 of the 23 insurers publish it.
RegulationRule changes1 rule change that reach insurers in Bosnia and Herzegovina, with their dates
- Outside the EU: moving towards Solvency II · Bosnia and Herzegovina: no date announced
Spotted a wrong figure? Tell us and include the source.
All insurers
ExcelDownload CSVLicence| Insurer | Premium | Share |
|---|---|---|
| ASA Central | 75.2 | 12.5% |
| Adriatic | 62.7 | 10.5% |
| Euroherc | 51.1 | 8.5% |
| UNIQA | 46.6 | 7.8% |
| Triglav | 44.1 | 7.4% |
| Sarajevo osiguranje | 40.9 | 6.8% |
| GRAWE | 31.7 | 5.3% |
| Croatia osiguranje | 28.5 | 4.8% |
| Wiener | 27.9 | 4.6% |
| Vienna osiguranje | 24.2 | 4.0% |
| GRAWE Banja Luka | 21.8 | 3.6% |
| Premium | 18.7 | 3.1% |
| Camelija | 18.2 | 3.0% |
| Dunav | 18.2 | 3.0% |
| Aura | 14.7 | 2.5% |
| Drina | 13.6 | 2.3% |
| Mikrofin (MF) | 13.0 | 2.2% |
| Brčko-gas | 10.3 | 1.7% |
| Nešković | 10.2 | 1.7% |
| Euros | 8.7 | 1.4% |
| Garant | 8.6 | 1.4% |
| Krajina | 8.5 | 1.4% |
| SAS-Super P | 2.3 | 0.4% |
| Triglav Banja Luka | -0.1 | — |
CiteCite this pageThe reference in APA style and as BibTeX, each with a copy button, and the terms of reuse
Polisa compiles the figures; the original sources are named on this page and on the method page.
Polisa. (2026). Bosnia and Herzegovina insurance market: market shares, lines, solvency and claims [Data version 2026-11-11.13378f]. Retrieved November 11, 2026, from https://polisapro.com/markets/ba
BibTeXShow entry
@misc{polisa_markets_ba_2026,
author = {{Polisa}},
title = {Bosnia and Herzegovina insurance market: market shares, lines, solvency and claims},
year = {2026},
version = {2026-11-11.13378f},
howpublished = {\url{https://polisapro.com/markets/ba}},
note = {Accessed 11 November 2026}
}Reuse: Polisa's compilation CC BY 4.0 · source data: AZOBiH, ANO FBiH, AZORS (all rights reserved, no re-use terms), BHAS (CC0), SASE (no terms published, all rights reserved), Banja Luka Stock Exchange (no terms published, all rights reserved).