Top 100 Insurers

SEE TOP 100 insurers is a ranking of the largest insurers (excluding re-insurers) in Southeast Europe in terms of gross written premium from non-consolidated income statements for 2018.

To allow comparison, all local currencies have been converted into euro, using the central banks’ official exchange rates on the last working day of 2018 and 2017, respectively. Local currency figures have been used when calculating year-on-year changes.

All data is sourced from central banks, national commercial registers, financial supervision commissions, insurance associations, government and corporate websites, and companies themselves.

The initial pool of companies exceeds 240 insurers.

Gross written premium and net profit/loss figures are in millions of euro.

2018 2017 Company name Country Gross written premium 2018 Y/Y change in GWP Net profit/loss 2018 Net profit/loss 2017
1 1 Zavarovalnica Triglav d.d. Slovenia 660.2 6.15% 65.5 62.5
2 2 Zavarovalnica Sava d.d. Slovenia 392.3 7.83% 29.5 25.1
3 3 Croatia Osiguranje d.d. Croatia 376.5 13.30% 36.5 20.1
4 6 City Insurance SA Romania 318.4 18.30% 10.6 5.2
5 5 Vzajemna Zdravstvena Zavarovalnica d.v.z. Slovenia 304.3 6.95% 0.678 -0.749
6 4 Adriatic Slovenica d.d. Slovenia 300.4 -1.10% 8.9 11.4
7 7 Allianz – Tiriac Asigurari SA Romania 280.8 7.60% 31.4 32.7
8 9 Omniasig Vienna Insurance Group SA Romania 251.4 10.72% 1.2 7.4
9 10 Dunav Osiguranje AD Serbia 233.9 10.59% 13.4 9.7
10 8 Euroins Romania Asigurare Reasigurare SA Romania 216.1 -7.31% 6.8 21.5
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
11 11 Groupama Asigurari SA Romania 215.2 8.76% -1.4 7.7
12 12 Asirom Vienna Insurance Group SA Romania 185.9 -10.35% -41.0 1.6
13 13 Generali Osiguranje Srbija AD Serbia 181.8 8.31% 32.7 24.5
14 15 NN Asigurari de Viata SA Romania 165.3 4.63% 10.5 6.3
15 14 Allianz Zagreb d.d. Croatia 157.2 1.39% 16.7 15.0
16 17 Euroherc Osiguranje d.d. Croatia 150.8 22.26% 19.2 12.4
17 16 Triglav Zdravstvena Zavarovalnica d.d. Slovenia 144.7 11.38% 1.3 1.3
18 19 Lev Ins AD Bulgaria 143.3 36.91% 0.913 0.185
19 18 Bulstrad Vienna Insurance Group AD Bulgaria 120.5 14.37% 6.8 3.1
20 23 DZI – General Insurance EAD Bulgaria 120.1 24.29% 7.1 3.3
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
21 21 Armeec AD Bulgaria 106.3 6.76% 2.7 3.8
22 28 Wiener Osiguranje Vienna Insurance Group d.d. Croatia 103.4 29.11% 5.7 3.7
23 22 Generali Zavarovalnica d.d. Slovenia 102.3 3.06% 4.7 2.7
24 24 DDOR Novi Sad AD Serbia 101.3 9.02% 5.4 4.1
25 25 Wiener Stadtische Osiguranje AD Serbia 98.7 6.75% 5.7 3.1
26 36 Bul Ins AD Bulgaria 97.8 52.89% 2.8 0.018
27 20 Generali Romania SA Romania 96.6 -6.46% 9.2 12.1
28 32 Generali Osiguranje d.d. Croatia 96.2 26.22% 1.9 1.8
29 29 Adriatic Osiguranje d.d. Croatia 89.3 11.71% 8.3 5.7
30 34 Euroins AD Bulgaria 88.4 20.11% 1.1 0.020
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
31 30 Generali Insurance AD Bulgaria 86.7 12.44% 3.3 3.5
32 26 Allianz Bulgaria AD Bulgaria 84.7 -3.00% 7.7 4.2
33 33 UNIQA Osiguranje d.d. Croatia 78.5 3.80% 3.2 3.5
34 31 BCR Asigurari de Viata Vienna Insurance Group SA Romania 78.3 3.43% -6.5 3.5
35 35 NLB Vita d.d. Slovenia 76.9 8.60% 8.3 6.9
36 27 UNIQA Asigurari SA Romania 75.5 -9.25% -3.9 0.318
37 39 OZK – Insurance AD Bulgaria 74.3 40.01% 0.316 0.305
38 37 Grawe Hrvatska d.d. Croatia 58.2 4.49% 4.2 6.9
39 38 Triglav Osiguranje d.d. Croatia 57.9 7.16% 0.810 0.107
40 43 Bulstrad Life Vienna Insurance Group AD Bulgaria 55.5 27.84% 1.9 1.1
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
41 41 Triglav Osiguranje AD Serbia 49.2 9.20% 1.8 0.544
42 42 Agram Life Osiguranje d.d. Croatia 47.4 6.53% 1.7 0.664
43 40 Merkur Zavarovalnica d.d. Slovenia 47.1 1.95% 3.2 2.8
44 44 Grawe Zavarovalnica d.d. Slovenia 43.3 1.67% 0.696 1.6
45 57 Modra Zavarovalnica d.d. Slovenia 43.2 47.72% 6.3 7.8
46 50 Dall Bogg Zhivot i Zdrave EAD Bulgaria 41.9 32.80% 0.151 0.061
47 60 BRD Asigurari de Viata SA Romania 39.2 41.08% 3.1 3.8
48 46 Merkur Osiguranje d.d. Croatia 37.6 -0.34% 3.0 3.7
49 45 UNIQA Life Insurance AD Bulgaria 37.5 -1.38% 0.596 0.433
50 54 UNIQA AD Bulgaria 35.6 19.15% 0.006 -1.2
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
51 65 Adriatic Osiguranje d.d. Bosnia and Herzegovina 33.7 31.75% 0.266 2.3
52 51 UNIQA Nezivotno Osiguranje AD Serbia 33.5 6.83% 1.5 1.1
53 52 Sigal UNIQA Group Austria Sh.a. Albania 33.3 2.74% 1.5 1.9
54 66 Gothaer Asigurari Reasigurari SA Romania 33.1 29.70% -8.9 -4.6
55 48 Grawe Osiguranje AD Serbia 33.1 1.49% 5.3 4.0
56 49 Pool-ul de Asigurare Impotriva Dezastrelor Naturale SA Romania 32.9 2.84% 8.3 8.5
57 55 UNIQA Osiguranje d.d. Sarajevo Bosnia and Herzegovina 31.6 6.62% 0.946 0.851
58 53 Lovcen Osiguranje AD Montenegro 30.7 2.78% 0.412 0.124
59 58 Sarajevo Osiguranje d.d. Bosnia and Herzegovina 30.6 6.36% 0.244 0.132
60 56 Wiener Stadtische Versicherung AG – Branch Ljubljana Slovenia 30.6 3.69% 4.5 3.9
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
61 59 Euroherc Osiguranje d.d. Bosnia and Herzegovina 30.5 6.04% 3.6 3.5
62 64 Milenijum Osiguranje AD Serbia 29.3 11.95% 1.3 3.3
63 67 Sigma Interalbanian Vienna Insurance Group Sh.a. Albania 28.5 4.33% 0.925 0.637
64 63 Hrvatska Osiguravajuca Kuca d.d. Croatia 28.2 4.04% 1.4 1.1
65 68 AMS Osiguranje AD Serbia 27.8 11.74% 1.0 2.1
66 47 ERGO Asigurari de Viata SA Romania 26.7 -18.52% 1.3 0.812
67 73 Grawe Osiguranje d.d. Sarajevo Bosnia and Herzegovina 26.7 21.70% 1.0 0.667
68 69 Croatia Osiguranje d.d. Bosnia and Herzegovina 25.1 2.14% 0.069 0.818
69 62 Allianz Bulgaria Life AD Bulgaria 25.0 -7.97% 0.500 3.4
70 77 Triglav Insurance AD North Macedonia 23.2 8.60% 0.512 1.4
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
71 75 Triglav Osiguranje d.d. Sarajevo Bosnia and Herzegovina 22.4 2.93% 0.926 0.919
72 76 DZI – Life Insurance AD Bulgaria 21.2 -2.31% 4.6 3.7
73 71 Energia AD Bulgaria 20.4 -12.79% 4.8 7.8
74 New Central Osiguranje d.d. Bosnia and Herzegovina 19.6 44.19% 1.7 2.0
75 80 Sava Nezivotno Osiguranje AD Serbia 19.5 14.13% 1.1 0.448
76 72 UBB-Life Insurance EAD Bulgaria 19.4 -13.14% 3.3 2.1
77 87 Albsig sh.a. Albania 18.9 19.71% 0.940 0.642
78 79 Eurosig Sh.a. Albania 18.2 -1.03% N/A N/A
79 81 GRAWE Bulgaria Life Insurance EAD Bulgaria 17.8 11.41% 1.5 1.8
80 98 UNIQA Asigurari de Viata SA Romania 17.7 44.97% 2.1 0.679
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
81 82 Signal Iduna Asigurari de Viata SA Romania 17.7 11.22% -0.098 -0.898
82 86 Eurolink Osiguruvanje AD North Macedonia 17.4 18.08% 0.695 0.115
83 New Grawe Romania Asigurare SA Romania 16.9 46.76% -0.822 -0.561
84 New Zavarovalnica Sava d.d. – Branch Croatia Croatia 16.7 15.69% -0.705 -1.2
85 85 UNIQA Zivotno Osiguranje AD Serbia 16.6 10.66% 1.1 0.491
86 78 Wiener Osiguranje Vienna Insurance Group a.d. Banja Luka Bosnia and Herzegovina 15.7 -12.93% -0.206 -1.2
87 90 Prva Osebna Zavarovalnica d.d. Slovenia 15.5 13.21% 2.8 3.1
88 83 Vienna Osiguranje d.d.(former Merkur BH Osiguranje d.d.) Bosnia and Herzegovina 15.5 -0.39% 0.860 1.0
89 91 Makedonija Skopje – Vienna Insurance Group AD North Macedonia 14.8 8.89% N/A 1.6
90 84 SID – Prva Kreditna Zavarovalnica d.d. Slovenia 14.3 -5.19% 1.0 1.2
2017 2016 Company name Country Gross written premium 2017 Y/Y change in GWP Net profit/loss 2017 Net profit/loss 2016
91 95 ERGO Osiguranje d.d. Croatia 14.1 9.71% -0.340 -1.7
92 New ASA Osiguranje d.d. Bosnia and Herzegovina 13.8 20.78% 0.853 0.484
93 96 Intersig Vienna Insurance Group Sh.a. Albania 13.6 0.74% 0.609 0.504
94 93 ERGO Versicherung AG – Branch Slovenia Slovenia 13.1 -0.72% -1.4 -0.265
95 94 Sava Osiguruvanje AD North Macedonia 13.1 2.51% 0.392 0.358
96 New UNIQA AD North Macedonia 13.1 15.06% 0.258 0.344
97 New Asset Insurance AD Bulgaria 12.9 22.15% 0.268 -0.863
98 92 ERGO Asigurari SA Romania 12.8 -4.53% -0.729 0.010
99 97 Sava Montenegro AD Montenegro 12.8 3.64% 1.9 1.2
100 New Croatia Osiguruvanje – Life AD North Macedonia 12.5 23.95% 0.573 0.479
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