DEJAN BAJIC President of Lovcen

‘Lovcen is the name of the mountain that symbolizes Montenegrin national identity, and we like to say this company is as solid as Lovcen mountain.’

A prime example of successful privatization and foreign confidence in the country’s assets is evident in Lovcen Insurance. Montenegro’s premier insurance company is the sector’s dominant figure, covering almost 80 percent of the domestic market in an area of substantial competition. Working together under a strategic and dynamic partnership, the company’s largest shareholders comprise the state of Montenegro, represented by three state funds, and leading Slovenian company Triglav Insurance.

Led by President Dejan Bajic, Lovcen is undergoing a period of restructuring to prepare for the arrival of new competition and change. “The government of Montenegro is adopting a new insurance law that will include all important European directives,” says Mr. Bajic. “In anticipation of this, we are combining our expertise with the know-how and experience of our Slovenian partner Triglav Insurance, and as Slovenia is already a member of the EU, we do not expect any problems.”

Today, the company continues to expand its range of insurance products, adapting to the different requirements and opportunities of the market. “Lovcen has the advantage of local knowledge,” adds Mr. Bajic. “The economic situation is improving, indicators are very positive and there are more and more foreign investors. We have an excellent network of salespeople who know the needs of Montenegrins and the country’s economy.”