GRAWE IN MONTENEGRO
Grawe osiguranje a.d. Podgorica is the first insurance company with majority Austrian capital to receive a license for legal operations in Montenegro. It was established based on the operating license issued by the Ministry of Finance of Montenegro on September 23, 2004, and registered in the Central Register of Business Entities (CRPS) in Podgorica on October 21, 2004. We are part of the large Grazer Wechselseitige Versicherung AG family, headquartered in Graz, Austria, which is our 100% owner. The Group has been successfully engaged in the insurance business since 1828, marking an impressive 190 years of operations in 2018. We are reinsured through our parent reinsurer, Grawe Reinsurance Ltd.
Following the adoption of Montenegro’s Insurance Law in 2006, our company has adjusted its operations in accordance with the new legal framework.
Our core business is life insurance combined with additional coverage for accidents, surgical interventions, and critical illnesses, tailored to the needs of our policyholders.
Our Strengths
Our greatest advantages are the international quality of our products and a secure investment policy. Customer care and acting in their best interests are among the primary tasks of Grawe osiguranje a.d. Podgorica. “Reliable insurance for all” was the motto of our founder and remains the guiding principle for all employees. Tradition, stability, and trust, with a far-sighted vision of the future, form the foundation on which GRAWE builds its successful business in Montenegro.
Future Plans
Grawe osiguranje a.d. Podgorica aims to expand its offerings in line with market needs and development, continuously introducing new products tailored to our clients’ requirements. Entering the non-life insurance market is also part of our plans, ensuring we provide a comprehensive insurance service to our customers.
Our offices are located in Podgorica, at Bulevar Ivana Crnojevića No. 62/1, in the city center.
GRAWE GROUP
The Grazer Wechselseitige Group is among the largest Austrian insurance companies, with an annual premium income exceeding €541.1 million and over 2.17 million insurance contracts across the entire group. The history of our group dates back to 1828 when Archduke Johann, known as the “people’s prince,” founded a society where citizens pooled their resources to protect against fire damage.
Our founder’s motto was “Reliable insurance for all.” Archduke Johann (1782–1859), the brother of Austrian Emperor Franz, made significant contributions not only to Austrian culture and education but also to the economy. The company’s headquarters is located in Graz, a university, cultural, and industrial center in the Austrian region of Styria.
A Tradition of Stability and Growth
From 1828 until today, the world has witnessed many upheavals: two world wars, the stock market crash of 1873, the “Black Friday” crash of 1929, the oil crisis of 1973, and even the global financial crisis of recent history. Yet, none of these events have hindered the growth and expansion of the GRAWE Group. With timely and strategic decisions, GRAWE focused on investing in real estate and fixed assets. The group also expanded into the banking sector to provide clients with comprehensive financial care and services.
GRAWE Today
Now, 190 years later, we successfully operate in 13 countries across Southern and Southeastern Europe, bringing our clients international-quality insurance tailored to local regulations.
The financial stability of the GRAWE Group is reflected in our own capital, which is well above the market average, as well as our conservative investment policy. The funds entrusted to us by our clients are primarily invested in real estate, bonds, mortgages, and only a small portion in stocks. Based on our capital-to-liabilities ratio, GRAWE is one of the most stable insurance companies.
Our Mission
Archduke Johann’s words, “The strength that brings good lies in the unity of the community. It is the duty of each of us to contribute to that,” remain the foundation of our mission today. We encourage our clients to secure their future in advance rather than leave things to chance. We are here to help them do just that.
