Bosnia and Herzegovina

Axco provides details on the life insurance sector including Bosnian and Herzegovinan market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Bosnia & Herzegovina, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Bosnian & Herzegovinan pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Bosnia and Herzegovina report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Summary and Trends

The life market of Bosnia and Herzegovina (BiH) is small, generating premiums of BAM 158.44mn in 2019. The market shrank by 1.3% in 2020, partly due to the effects of the COVID-19 pandemic. The only significant individual life products in BiH are with profit endowments and credit life. Because of their ability to generate both commissions and protection riders, insurers and ...

Summary and Trends

Despite the clear need for private pension provision, it took until 2009 for the government of RS to provide a regulatory framework for voluntary private pensions and until 2016 for the Federation to do so. Legislation in the two entities is quite similar, allowing open or closed pension funds to be established by authorised pension management companies...

Summary and Trends

In 2019, health insurance premiums, including travel health, amounted to BAM 12.11mn. Because there are no private hospitals in BiH, PMI is mainly confined to medical check-ups, specialist consultations and diagnostics, most of which can be provided more quickly and to a higher standard in the private sector. This cover is known locally as additional health insurance (AHI). More expensive policies may also cover ...