STATISTICS: SERBIA, 3Q2015: Two insurers controls more than half the market

In January-September 2015, the Serbian insurance market totaled RSD 60.6 billion (EUR 506 million), up by 18%, according to the data published by the National Bank of Serbia. At the same time, the value of paid claims increased by 10.6% y-o-y to RSD 22 billion (EUR 185 million).

The share of non-life GWP in total premiums was 78.5%, while the remaining 21.5% was accounted by the life insurance sub-classes.

Analyzing the non-life insurance premium structure, MTPL accounted for the largest share of total GWP (35.8%), followed by property insurance (20.4%) and motor hull (7.8%).

The market ranking was dominated by the state owned DUNAV Osiguranje and GENERALI Osiguranje. The two mentioned insurers accounted together for more than half of total GWP - 50.4%. Top 5 was completed by the Novi Sad based - DDOR (part of the Gruppo Assicurativo UNIPOL group), WIENER (member of Austrian VIG) and UNIQA Nezivot - with the top 5 covering 77% of the market.

At the end of 3Q2015, 20 insurance companies were activating on the insurance market in Serbia: five specialized life insurers, nine non-life insurers, and six composite companies.

Access www.xprimm.com and download the 3Q2015 Serbian insurance market statistics.

Market portfolio (in EUR and RSD):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/Claims/Market shares - in EUR and RSD):
  • Total market ranking
  • Life insurance ranking
  • Non-life insurance ranking

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

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

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all