"Delta holding" to enter insurance market in Montenegro by forming two independent companies

Company "Delta holding" will enter the insurance market in Montenegro by forming two independent companies, one of which will deal with property insurance - "Delta osiguranje", while the other will deal with life insurance - "Delta life".

At the end of December 2007, Serbian company submitted request to Montenegrin Agency for Insurance Supervision for working license. If the Agency issues this license, deadline for which is 90 days, it is expected that the competition on local insurance market will be significantly stronger. At this moment, "Lovćen" covers 74%, "Montenegro" 21%, and "Svis" covers 2.7% of the insurance market in Montenegro.

People from "Delta" say that they expect that the strategic partnership with Italian "Generali" will also be present in Montenegro. Head of company "Delta osiguranje" Podgorica is Dejan Bajić, former CEO of "Lovćen" insurance company and former adviser for international economic relations of ex Prime Minister of Montenegro - Milo Đukanović.