Top 100 Insurers - Top 100

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 2019.

To allow comparison, all local currencies have been converted into euro, using the central banks’ official exchange rates on the last working day of 2019 and 2018, 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.

1 - 10

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
1	1	Zavarovalnica Triglav d.d.	Slovenia	659.2	4.13%	70.6	65.5
2	2	Zavarovalnica Sava d.d.	Slovenia	428.7	9.29%	38.5	29.5
3	4	City Insurance SA	Romania	400.3	28.81%	11.9	10.6
4	3	Croatia Osiguranje d.d.	Croatia	368.5	-1.80%	39.4	36.5
5	5	Vzajemna Zdravstvena Zavarovalnica d.v.z.	Slovenia	330.8	8.71%	9.8	0.7
6	6	Adriatic Slovenica d.d.* – non-existent	Slovenia	309.7	3.08%	6.9	8.9
7	7	Allianz – Tiriac Asigurari SA	Romania	286.7	4.62%	31.8	28.8
8	8	Omniasig Vienna Insurance Group SA	Romania	273.4	11.46%	-1.7	-5.2
9	10	Euroins Romania Asigurare Reasigurare SA	Romania	267.6	27.21%	-9.1	6.8
10	9	Dunav Osiguranje AD	Serbia	242.3	3.07%	25.6	13.3

11 - 20

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
11	11	Groupama Asigurari SA	Romania	227.6	8.36%	-12.6	-1.4
12	13	Generali Osiguranje Srbija AD	Serbia	197.0	7.83%	33.3	32.7
13	15	Allianz Hrvatska d.d.	Croatia	183.0	16.82%	15.6	16.7
14	17	Triglav Zdravstvena Zavarovalnica d.d.	Slovenia	177.4	22.64%	2.9	1.3
15	14	NN Asigurari de Viata SA	Romania	172.7	7.02%	12.6	11.8
16	16	Euroherc Osiguranje d.d.	Croatia	171.8	14.31%	17.7	19.2
17	18	Lev Ins AD	Bulgaria	161.9	13.01%	0.8	0.9
18	27	Generali Romania SA	Romania	147.9	56.94%	1.4	9.2
19	19	Bulstrad Vienna Insurance Group AD	Bulgaria	141.9	17.77%	5.8	6.8
20	20	DZI – General Insurance EAD	Bulgaria	131.2	9.29%	13.8	7.1

21 - 30

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
21	22	Wiener Osiguranje Vienna Insurance Group d.d.	Croatia	124.6	20.89%	7.1	5.7
22	30	Euroins AD	Bulgaria	124.5	40.79%	2.9	0.4
23	12	Asirom Vienna Insurance Group SA	Romania	122.3	-32.59%	-7.7	-41.0
24	21	Armeec AD	Bulgaria	113.7	6.89%	2.7	2.7
25	37	OZK – Insurance AD	Bulgaria	110.5	48.71%	n/a	0.3
26	28	Generali Osiguranje d.d.	Croatia	108.2	12.89%	1.7	1.9
27	24	DDOR Novi Sad AD	Serbia	107.9	5.99%	8.7	5.4
28	25	Wiener Stadtische Osiguranje AD	Serbia	107.4	8.19%	8.6	5.7
29	23	Generali Zavarovalnica d.d.	Slovenia	105.5	3.18%	3.3	4.7
30	29	Adriatic Osiguranje d.d.	Croatia	101.1	13.61%	8.0	8.3

31 - 40

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
31	31	Generali Insurance AD	Bulgaria	90.8	4.62%	9.5	3.3
32	32	Allianz Bulgaria AD	Bulgaria	89.0	5.08%	9.3	7.7
33	26	Bul Ins AD	Bulgaria	89.0	-9.04%	n/a	2.8
34	33	UNIQA Osiguranje d.d.	Croatia	85.3	8.99%	5.1	3.2
35	35	NLB Vita d.d.	Slovenia	84.5	9.83%	9.0	8.3
36	36	UNIQA Asigurari SA	Romania	78.6	6.67%	0.9	-3.9
37	40	Bulstrad Life Vienna Insurance Group AD	Bulgaria	75.3	35.70%	2.2	1.9
38	34	BCR Asigurari de Viata Vienna Insurance Group SA	Romania	74.4	-1.77%	8.2	-5.4
39	46	Dall Bogg Zhivot i Zdrave EAD	Bulgaria	73.2	74.51%	1.6	0.2
40	39	Triglav Osiguranje d.d.	Croatia	65.6	13.67%	0.4	0.8

41 - 50

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
41	47	BRD Asigurari de Viata SA	Romania	61.7	61.39%	2.3	3.1
42	38	Grawe Hrvatska d.d.	Croatia	60.7	4.62%	4.3	4.2
43	41	Triglav Osiguranje AD	Serbia	58.4	18.09%	2.1	2.0
44	45	Modra Zavarovalnica d.d.	Slovenia	53.5	23.78%	12.2	6.3
45	42	Agram Life Osiguranje d.d.	Croatia	52.0	10.24%	2.8	1.7
46	43	Merkur Zavarovalnica d.d.	Slovenia	48.3	2.55%	3.0	3.2
47	44	Grawe Zavarovalnica d.d.	Slovenia	46.7	7.89%	1.0	0.7
48	72	DZI – Life Insurance AD	Bulgaria	38.7	82.50%	3.4	4.6
49	52	UNIQA Nezivotno Osiguranje AD	Serbia	37.3	10.58%	1.3	1.5
50	48	Merkur Osiguranje d.d.	Croatia	36.4	-2.90%	3.0	3.0

51 - 60

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
51	53	Sigal UNIQA Group Austria Sh.a.	Albania	35.3	4.77%	1.1	1.5
52	51	Adriatic Osiguranje d.d.	Bosnia and Herzegovina	35.1	4.23%	2.9	0.3
53	50	UNIQA AD	Bulgaria	35.0	-1.73%	1.7	0.0
54	49	UNIQA Life Insurance AD	Bulgaria	34.9	-6.85%	3.3	0.6
55	59	Sarajevo Osiguranje d.d.	Bosnia and Herzegovina	34.5	12.97%	0.3	0.2
56	55	Grawe Osiguranje AD	Serbia	34.4	3.58%	5.1	5.3
57	65	AMS Osiguranje AD	Serbia	33.6	19.92%	4.8	1.0
58	56	Pool-ul de Asigurare Impotriva Dezastrelor Naturale SA	Romania	33.3	3.88%	10.7	8.3
59	58	Lovcen Osiguranje AD	Montenegro	33.1	7.78%	0.6	0.4
60	New	Triglav Pokojninska Druzba d. d.	Slovenia	33.1	n/a	1.1	-0.4

61 - 70

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
61	60	Wiener Stadtische Versicherung AG – Branch Ljubljana	Slovenia	33.1	8.25%	5.8	4.5
62	57	UNIQA Osiguranje d.d. Sarajevo	Bosnia and Herzegovina	32.4	2.52%	1.5	1.1
63	61	Euroherc Osiguranje d.d.	Bosnia and Herzegovina	31.7	3.94%	4.6	3.6
64	64	Hrvatska Osiguravajuca Kuca d.d.	Croatia	31.5	12.21%	0.7	1.4
65	62	Milenijum Osiguranje AD	Serbia	30.5	3.49%	3.9	1.3
66	67	Grawe Osiguranje d.d. Sarajevo	Bosnia and Herzegovina	28.1	5.27%	1.3	1.0
67	83	Grawe Romania Asigurare SA	Romania	27.7	67.98%	-3.2	-0.8
68	68	Croatia Osiguranje d.d.	Bosnia and Herzegovina	26.0	3.63%	0.0	0.1
69	71	Triglav Osiguranje d.d. Sarajevo	Bosnia and Herzegovina	24.5	9.67%	0.9	0.9
70	69	Allianz Bulgaria Life AD	Bulgaria	23.7	-5.25%	3.7	0.5

71 - 80

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
71	81	Signal Iduna Asigurare Reasigurare SA (formerly known as Signal Iduna Asigurari de Viata SA)	Romania	23.5	36.69%	0.9	-0.2
72	70	Triglav Insurance AD	North Macedonia	23.2	-0.04%	0.3	0.5
73	75	Sava Nezivotno Osiguranje AD	Serbia	22.6	15.43%	0.8	1.2
74	79	GRAWE Bulgaria Life Insurance EAD	Bulgaria	19.6	9.63%	2.1	1.5
75	74	Central Osiguranje d.d.	Bosnia and Herzegovina	19.5	-0.36%	1.4	1.7
76	77	Albsig sh.a.	Albania	19.4	1.25%	1.3	0.9
77	88	Vienna Osiguranje d.d.(former Merkur BH Osiguranje d.d.)	Bosnia and Herzegovina	19.1	23.48%	0.5	0.9
78	78	Eurosig Sh.a.	Albania	19.0	2.80%	1.1	0.5
79	54	Gothaer Asigurari Reasigurari SA	Romania	18.9	-41.60%	-3.7	-8.1
80	63	Sigma Interalbanian Vienna Insurance Group Sh.a.	Albania	18.4	1.12%	n/a	0.9

81 - 90

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
81	87	Prva Osebna Zavarovalnica d.d.	Slovenia	18.3	17.69%	2.8	2.8
82	73	Energia AD	Bulgaria	17.2	-15.69%	3.9	4.8
83	92	ASA Osiguranje d.d.	Bosnia and Herzegovina	16.6	18.72%	1.1	0.9
84	82	Eurolink Osiguruvanje AD	North Macedonia	16.5	-5.14%	0.0	0.7
85	85	UNIQA Zivotno Osiguranje AD	Serbia	16.2	-2.77%	1.0	1.1
86	86	Wiener Osiguranje Vienna Insurance Group a.d. Banja Luka	Bosnia and Herzegovina	16.0	2.25%	0.1	-0.2
87	89	Makedonija Skopje – Vienna Insurance Group AD	North Macedonia	15.1	1.90%	1.4	1.4
88	93	Intersig Vienna Insurance Group Sh.a.	Albania	14.9	8.19%	n/a	0.6
89	New	Coface PKZ Zavarovalnica d. d.	Slovenia	14.8	3.33%	1.2	1.0
90	95	Sava Osiguruvanje AD	North Macedonia	14.4	10.39%	0.2	0.4

91 - 100

2019	2018	Company Name	Country	Gross written premium 2019	Y/Y Change in GWP 2019 (%)	Net profit/loss 2019	Net profit/loss 2018
91	99	Sava Osiguranje AD	Montenegro	13.8	7.45%	1.2	1.9
92	97	Asset Insurance AD	Bulgaria	13.6	5.55%	0.6	0.3
93	96	UNIQA AD	North Macedonia	13.4	2.54%	-0.4	0.3
94	New	Euroins Insurance AD Skopje	North Macedonia	13.2	20.58%	0.8	0.6
95	New	Winner Vienna Insurance Group AD	North Macedonia	13.2	5.03%	0.8	0.7
96	100	Croatia Osiguruvanje – Life AD	North Macedonia	13.1	4.49%	0.8	0.6
97	New	Grawe Carat Asigurari SA	Moldova	13.1	15.36%	1.1	1.3
98	New	Groupama Insurance EAD	Bulgaria	12.3	0.21%	-0.8	0.3
99	New	Uniqa Nezivotno Osiguranje AD	Montenegro	12.3	7.35%	0.2	0.1
100	New	Dunav Osiguranje a.d.	Bosnia and Herzegovina	12.2	0.97%	0.0	-0.9