STATISTICS: SERBIA, 1H2016: Motor Hull insurance line regains momentum after being on a negative trend for years

"A positive trend of nominal insurance premium growth, which has lasted for more than a decade, continued into this year," it is how Dusko JOVANOVIC, Secretary General, Association of Serbian Insurers - UOS has characterized the Serbian insurance market's evolution in the first half of 2016.

In the supervising authority's view, the Serbian insurance market "recorded a healthy 9.9% y-o-y premium growth rate in H1 2016. This development was driven by the life segment, recording a double digit growth rate and increasing the share of life insurance in total premium. Life premium which increased by 13.0% y-o-y was dominated by traditional endowment insurance which increased at a healthy pace, and first unit-linked policies were sold in the market this year."

On the non-life side, "the growth had a general character, as the premium growth was recorded in all types of insurance. The continuous and stable growth rates are encouraging, and so is the high potential of the insurance market. We can say that the Serbian market is moving toward a portfolio structure that is present in countries with developed insurance markets, although the high share of non-life insurance, especially compulsory insurance in total premium, is still its main characteristic," explained Dusko JOVANOVIC. Yet, the market watchdog has stressed out as notable the evolution on the Motor Hull line which, "after a prolonged period of premium contraction, started a revival in 2015, which it kept in H1 2016."

Access www.xprimm.com and download the 1H2016 Serbian insurance market statistics.

Read more about the Serbian insurance market evolution in 1H2016 in the forthcoming issue of XPRIMM Insurance Report 1H2016, to be released on October, 23rd, on the occasion of the Baden-Baden XPRIMM Reception (Kurhaus Casino, Runder Saal).

Related articles

photodune-3834701-laughing-girl-xs

STATISTICS: SERBIA, FY2017: positive trend in business; changes in preparation of the regulatory side

Serbian insurance market ended 2017 with FWP worth EUR 785.8 million, 8.8% up y-o-y, a result supported in part also by the Serbian Dinar appreciation against the European currency. In local currency, the GWP growth was of only 4.4%. Most of the market growth came from the non-life insurance side, which saw a 11% increase in premiums, thus raising its weight in the market portfolio by about 1.5 percentage points.

2018-05-03

Serbian Government expects EUR 100 million from the future DUNAV sale, in case it will decide the company's privatization

The Serbian Government has set the approximate privatization price for DUNAV Osiguranje to EUR 110 million, an article published by the Croatian insurance portal osiguranje.hr reads. Yet, the privatization decision is still pending, as the Government is currently analyzing the results of company's diagnostic review, to determine DUNAV's financial and competitive position before effectively launching the privatization process.

2017-01-12

ON THE MOVE

TOP EVENT

FIAR 2018 - Motor Insurance Conference (I & II): with the right use of technoloogy, clients' expectations and MTPL insurer's profitability may go hand in hand

The first and second parts of the Motor Insurance Conference taking place at FIAR 2018 focused on the new MTPL Law in Romania and the way it changed the market after almost 1 year of implementation, as well as the consequences of the new legislative framework and the operational challenges this brings, but also the most suitable solutions for balancing regulation, insurers' appetites and customer expectations on the MTPL market.

16.05.2018

FIAR 2018: Brokers' Conference (II): digitization and technology are needed for efficient operations, but will not replace the human touch in consultancy

The second part of the Brokers' Conference taking place at FIAR 2018 analyzed the impact of European Union's legislative overhaul - IDD & GDPR -, also bringing into debate study cases and real-life scenarios of what the brokers face on the market, and, last but not least, trying to see whether digitization and InsurTech could truly lead to disintermediation.


15.05.2018

Brokers' Conference (I): Until 1 July, when we will see the final version of the IDD, we cannot say for certain if we are ready and how ready we actually are

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

15.05.2018

INSURANCE IN A DIGITAL WORLD Conference: capacity, consistency and culture are the three key success factors in the digital transformation of insurers

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

14.05.2018

Insurance Market Trends Conference (II): GDPR and IDD, European regulations affecting all business lines, as well as the compliance with the Solvency II framework, are the main challenges ahead for the Romanian market

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.


14.05.2018

See all