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 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.
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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 |