STATISTICS: SERBIA, 1Q2019: Moderate business growth but accelerated in terms of claims

20 June 2019 — Andrei Victor
Serbian insurers ended 1Q2019 with total GWP worth RSD 24.83 billion (EUR 210.5 million), 0.5% up y-o-y, according to the most recent market statistics pubished by the National Bank of Serbia.

On the paid claims side, the total market expenses expanded by 26.2%, to RSD 12.28 billion, driven by the higher compensations paid for the two property classes: +188.8% y-o-y to RSD 3.69 billion.

In fact, except DUNAV osiguranje and DDOR Novi Sad, all insurers reported higher volumes of paid claims, the larges rates being reported by UNIQA Nezivot (+275%), SOGAZ (+123%) and GENERALI Osiguranje (+66%).

In terms of GWP, the Top 3 ranking remained the same as in the previous periods: DUNAV Osiguranje leads the market, with a 25.75% market share; GENERALI Osiguranje follows with a 22.1% market share, while DDOR ranks third, with 11.83% of the total GWP.

Access and download the 1Q2019 Serbian insurance market statistics.

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