This paper firstly presents the development trends of the insurance market in Bosnia and Herzegovina in the period 2004-2015 measured by the indicators of density and insurance penetration, and then it presents the research concerning the factors that have a major impact on the development of the insurance market, as well as research related to the examination of the impact of insurance on economic growth. One of the aims of the paper has been to check whether the results of the scientists who examined the interrelationship of insurance market development and economic growth in different countries and at different time periods would be confirmed for the market of Bosnia and Herzegovina.
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