Annual ranking of the biggest companies in Southeast Europe
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 2021.
To allow comparison, all local currencies have been converted into euro, using the central banks’ official exchange rates on the last working day of 2021 and 2020, 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.
2021 | 2020 | Company Name | Country | Gross written premium 2021 | Y/Y Change in GWP 2021 (%) | Net profit/loss 2021 | Net profit/loss 2020 |
1 | 1 | Zavarovalnica Triglav d.d. | Slovenia | 794.4 | 10.44% | 73.4 | 58.0 |
2 | 4 | Generali Zavarovalnica d.d. | Slovenia | 450.1 | 5.65% | 24.5 | 5.7 |
3 | 8 | Euroins Romania Asigurare Reasigurare SA | Romania | 446.0 | 67.90% | -6.8 | -45.8 |
4 | 3 | Zavarovalnica Sava d.d. | Slovenia | 434.4 | -2.81% | 58.1 | 48.9 |
5 | 10 | Allianz – Tiriac Asigurari SA | Romania | 413.5 | 54.85% | 24.3 | 24.4 |
6 | 5 | Croatia Osiguranje d.d. | Croatia | 386.9 | 6.06% | 44.4 | 30.5 |
7 | 11 | Groupama Asigurari SA | Romania | 331.1 | 53.26% | 4.3 | 3.5 |
8 | 7 | Omniasig Vienna Insurance Group SA | Romania | 327.4 | 16.41% | 1.8 | 5.5 |
9 | 6 | Vzajemna Zdravstvena Zavarovalnica d.v.z. | Slovenia | 321.7 | -6.14% | 8.9 | 11.9 |
10 | 9 | Dunav Osiguranje AD | Serbia | 268.6 | 6.41% | 21.4 | 27.3 |
11 | 12 | Triglav Zdravstvena Zavarovalnica d.d. | Slovenia | 199.0 | 1.33% | 6.4 | 4.8 |
12 | 13 | Generali Osiguranje Srbija AD | Serbia | 199.0 | 6.00% | 28.9 | 32.0 |
13 | 14 | Euroherc Osiguranje d.d. | Croatia | 197.0 | 10.48% | 16.9 | 16.4 |
14 | 15 | NN Asigurari de Viata SA | Romania | 191.1 | 10.18% | 14.6 | 17.0 |
15 | 17 | Euroins AD | Bulgaria | 175.9 | 15.25% | 1.4 | 3.3 |
16 | 16 | Lev Ins AD | Bulgaria | 174.6 | 11.44% | n/a | 2.9 |
17 | 22 | Asirom Vienna Insurance Group SA | Romania | 167.9 | 30.45% | -3.7 | -2.4 |
18 | 18 | Allianz Hrvatska d.d. | Croatia | 163.4 | 7.70% | 14.2 | 7.2 |
19 | 20 | Adriatic Osiguranje d.d. | Croatia | 162.5 | 22.08% | 9.7 | 9.1 |
20 | 23 | Wiener Osiguranje Vienna Insurance Group d.d. | Croatia | 160.3 | 23.32% | 6.4 | 5.3 |
21 | 30 | Generali Romania SA | Romania | 156.8 | 24.56% | 8.5 | 7.5 |
22 | 19 | Bulstrad Vienna Insurance Group AD | Bulgaria | 154.9 | 6.05% | 20.8 | 7.8 |
23 | 21 | DZI – General Insurance EAD | Bulgaria | 140.0 | 5.91% | 21.1 | 21.4 |
24 | 28 | Generali Osiguranje d.d. | Croatia | 130.3 | 30.40% | 0.9 | -2.4 |
25 | 25 | DDOR Novi Sad AD | Serbia | 118.6 | 6.50% | 6.0 | 10.6 |
26 | 24 | Wiener Stadtische Osiguranje AD | Serbia | 115.0 | 2.05% | 10.0 | 10.3 |
27 | 26 | Armeec AD | Bulgaria | 111.0 | 5.79% | 4.4 | 3.4 |
28 | 27 | Dall Bogg Zhivot i Zdrave EAD | Bulgaria | 102.3 | -0.01% | 2.2 | 1.5 |
29 | 34 | Vita d.d. | Slovenia | 101.1 | 30.91% | 7.7 | 8.7 |
30 | 32 | Bul Ins AD | Bulgaria | 97.7 | 7.99% | 4.2 | 0.9 |
31 | 29 | OZK – Insurance AD | Bulgaria | 95.9 | 3.00% | n/a | 2.8 |
32 | 31 | Generali Insurance AD | Bulgaria | 93.5 | 7.15% | 6.1 | 11.8 |
33 | 38 | Triglav Osiguranje d.d. | Croatia | 86.9 | 19.01% | 1.8 | -2.6 |
34 | 33 | Allianz Bulgaria AD | Bulgaria | 84.5 | 4.20% | 7.9 | 11.1 |
35 | 35 | BCR Asigurari de Viata Vienna Insurance Group SA | Romania | 83.0 | 9.73% | 6.2 | 6.2 |
36 | 36 | UNIQA Osiguranje d.d. | Croatia | 80.1 | 5.21% | 4.0 | 3.2 |
37 | 37 | UNIQA Asigurari SA | Romania | 77.9 | 3.85% | 3.4 | 0.8 |
38 | 45 | BRD Asigurari de Viata SA | Romania | 72.2 | 44.87% | 1.8 | 1.1 |
39 | 40 | Triglav Osiguranje AD | Serbia | 69.3 | 13.90% | 4.1 | 3.9 |
40 | 41 | Grawe Hrvatska d.d. | Croatia | 61.7 | 6.94% | 3.7 | 1.7 |
41 | 48 | Grawe Romania Asigurare SA | Romania | 59.7 | 59.22% | -2.1 | -3.5 |
42 | 39 | Modra Zavarovalnica d.d. | Slovenia | 56.6 | -8.47% | 19.0 | 4.0 |
43 | 43 | Merkur Zavarovalnica d.d. | Slovenia | 55.0 | 5.39% | 3.5 | 3.1 |
44 | 44 | Agram Life Osiguranje d.d. | Croatia | 53.2 | 3.14% | 2.5 | 4.0 |
45 | 46 | Grawe Zavarovalnica d.d. | Slovenia | 47.7 | 1.18% | 1.0 | 1.3 |
46 | 42 | Bulstrad Life Vienna Insurance Group AD | Bulgaria | 47.6 | -10.50% | n/a | 2.1 |
47 | 47 | DZI – Life Insurance AD | Bulgaria | 41.4 | 10.46% | 24.2 | 2.3 |
48 | 49 | Grawe Osiguranje AD | Serbia | 40.8 | 9.80% | 6.4 | 7.2 |
49 | 52 | AMS Osiguranje AD | Serbia | 39.5 | 15.40% | 4.4 | 5.0 |
50 | 50 | Adriatic Osiguranje d.d. | Bosnia and Herzegovina | 38.2 | 7.37% | 3.3 | 3.1 |
51 | 62 | Sigal UNIQA Group Austria Sh.a. | Albania | 37.5 | 17.96% | 3.1 | 3.7 |
52 | 51 | Wiener Stadtische Versicherung AG – Branch Ljubljana | Slovenia | 36.9 | 5.75% | n/a | 5.2 |
53 | 61 | UNIQA Osiguranje d.d. Sarajevo | Bosnia and Herzegovina | 36.5 | 14.75% | 1.1 | 1.6 |
54 | 55 | UNIQA Nezivotno Osiguranje AD | Serbia | 35.9 | 8.56% | 0.2 | -0.7 |
55 | 54 | Pool-ul de Asigurare Impotriva Dezastrelor Naturale SA | Romania | 35.5 | 5.81% | 8.0 | 8.4 |
56 | 80 | Globos Osiguranje AD | Serbia | 35.4 | 103.47% | 3.3 | 0.0 |
57 | 60 | UNIQA AD | Bulgaria | 35.0 | 9.90% | 2.7 | 1.0 |
58 | new | Triglav Pokojninska Druzba d.d. | Slovenia | 34.2 | 4.13% | 1.7 | -0.9 |
59 | 59 | Lovcen Osiguranje AD | Montenegro | 33.9 | 6.21% | 1.3 | 3.9 |
60 | 53 | Sarajevo Osiguranje d.d. | Bosnia and Herzegovina | 33.5 | -1.53% | 0.5 | 0.3 |
61 | 58 | Euroherc Osiguranje d.d. | Bosnia and Herzegovina | 33.1 | 3.68% | 5.7 | 4.8 |
62 | 56 | Merkur Osiguranje d.d. | Croatia | 32.6 | -1.05% | 1.6 | 1.6 |
63 | 63 | HOK – Osiguranje d.d. | Croatia | 32.6 | 4.98% | 0.8 | 1.0 |
64 | 66 | Triglav Osiguranje d.d. Sarajevo | Bosnia and Herzegovina | 31.4 | 13.68% | 1.3 | 1.3 |
65 | 64 | Milenijum Osiguranje AD | Serbia | 30.8 | 2.95% | 2.4 | 5.7 |
66 | 68 | UNIQA Life Insurance AD | Bulgaria | 30.1 | 14.93% | 0.9 | 2.4 |
67 | 57 | Onix Asigurari SA | Romania | 30.0 | -5.92% | 11.8 | 7.4 |
68 | 65 | Grawe Osiguranje d.d. Sarajevo | Bosnia and Herzegovina | 28.9 | 2.75% | 2.2 | 2.1 |
69 | 67 | Signal Iduna Asigurare Reasigurare SA (formerly known as Signal Iduna Asigurari de Viata SA) | Romania | 28.7 | 9.47% | 0.1 | 0.8 |
70 | 70 | Albsig sh.a. | Albania | 27.2 | 23.85% | 2.0 | 1.3 |
71 | 81 | UNIQA Asigurari de Viata SA | Romania | 24.3 | 40.88% | 0.0 | 0.9 |
72 | 74 | ASA Osiguranje d.d. | Bosnia and Herzegovina | 23.7 | 21.46% | 1.7 | 1.3 |
73 | new | Wiener Osiguranje Vienna Insurance Group a.d. Banja Luka | Bosnia and Herzegovina | 23.3 | 14.48% | n/a | 0.1 |
74 | 72 | Sava Nezivotno Osiguranje AD | Serbia | 23.1 | 11.76% | 0.6 | 1.4 |
75 | 73 | Triglav Insurance AD | North Macedonia | 21.6 | 8.22% | 0.5 | 1.1 |
76 | 69 | Allianz Bulgaria Life AD | Bulgaria | 21.4 | -3.64% | 0.4 | 3.2 |
77 | 71 | Central Osiguranje d.d. | Bosnia and Herzegovina | 20.9 | 11.13% | 0.7 | 0.6 |
78 | 76 | GRAWE Bulgaria Life Insurance EAD | Bulgaria | 20.6 | 6.50% | 0.8 | 1.1 |
79 | 77 | Croatia Osiguranje d.d. | Bosnia and Herzegovina | 20.3 | 8.38% | 0.5 | 0.4 |
80 | 82 | Sigma Interalbanian Vienna Insurance Group Sh.a. | Albania | 18.9 | 11.62% | n/a | 0.9 |
81 | 83 | Eurosig Sh.a. | Albania | 18.9 | 13.80% | -1.7 | 0.3 |
82 | 93 | Groupama Insurance EAD | Bulgaria | 18.6 | 42.03% | n/a | 0.5 |
83 | 78 | Grawe Osiguranje a.d. Banja Luka | Bosnia and Herzegovina | 18.6 | 1.46% | 1.2 | 1.0 |
84 | 85 | Allianz-Tiriac Unit SA (formerly known as Gothaer Asigurari Reasigurari SA) | Romania | 18.4 | 16.25% | -5.0 | -4.4 |
85 | 79 | Vienna Osiguranje d.d.(former Merkur BH Osiguranje d.d.) | Bosnia and Herzegovina | 18.3 | 4.07% | 0.3 | 0.1 |
86 | 87 | Eurolink Osiguruvanje AD | North Macedonia | 18.3 | 16.68% | 1.5 | 0.4 |
87 | 91 | Uniqa AD | North Macedonia | 16.6 | 23.67% | -0.4 | 0.3 |
88 | 92 | Halk Osiguruvanje AD | North Macedonia | 16.1 | 20.71% | -4.2 | 0.4 |
89 | 84 | Allianz Slovenija Zavarovalna Podruznica | Slovenia | 16.1 | -0.18% | 0.0 | -2.5 |
90 | 86 | Energia AD | Bulgaria | 15.8 | 0.39% | 7.0 | 5.0 |
91 | 90 | Sava Osiguruvanje AD | North Macedonia | 15.3 | 10.98% | -0.3 | 0.5 |
92 | new | Asterra Grup SA | Moldova | 14.9 | 44.67% | 1.7 | 0.8 |
93 | 89 | Makedonija Osiguruvanje AD Skopje – Vienna Insurance Group | North Macedonia | 14.8 | 5.62% | 0.9 | 0.9 |
94 | 88 | UNIQA Zivotno Osiguranje AD | Serbia | 14.8 | 1.84% | 0.5 | 1.1 |
95 | 96 | Grawe Carat Asigurari SA | Moldova | 14.5 | 13.62% | 1.7 | 1.2 |
96 | 94 | Sava Osiguranje AD | Montenegro | 14.4 | 12.23% | n/a | 1.8 |
97 | 97 | Intersig Vienna Insurance Group Sh.a. | Albania | 14.2 | 12.71% | 0.7 | 0.7 |
98 | new | Sigal Uniqa Group Austria Sh.a. | Kosovo | 14.1 | 15.29% | 0.8 | 0.1 |
99 | 95 | Asset Insurance AD | Bulgaria | 14.0 | 10.46% | 1.8 | 1.4 |
100 | new | Winner Vienna Insurance Group AD | North Macedonia | 13.8 | 19.13% | 0.3 | 0.6 |