Southeastern Europe, between Macedonia and Hungary

In the north, continental climate (cold winters and hot, humid summers with well distributed rainfall); in other parts, continental and Mediterranean climate (relatively cold winters with heavy snowfall and hot, dry summers and autumns)

Natural hazards:
destructive earthquakes

Currency: Dinars (RSD)

1 EUR = 123.4723 Dinars - RSD (December 31st, 2016)
1 EUR = 121.6261 Dinars - RSD (December 31st, 2015)
1 EUR = 120.9583 Dinars - RSD (December 31st, 2014)
1 EUR = 114.6421 Dinars - RSD (December 31st, 2013)
1 EUR = 113.7183 Dinars - RSD (December 31st, 2012)
1 EUR = 104.6409 Dinars - RSD (December 31st, 2011)
1 EUR = 105.4982 Dinars - RSD (December 31st, 2010)


National Bank of Serbia
Association of Serbian Insurers

Insurance statistics

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Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
Serbian insurance market overviewpdf
2009Serbian insurance market overview pdf
2009Market portfolioxls
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1H2010Serbian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Total insurance market rankingxls
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1H2010Non-Life insurance rankings (total & main lines)xls

Serbia 1H2018 Insurance Companies Rankings

Serbia 1H2018 Market Portfolio

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Serbian reinsurance market may be liberalized soon

Gross premium written by the four Serbian reinsurance companies amounted to a total of RSD 8 billion (EUR 77 million) in 2012, almost 11% up as compared with the previous year. "Dunav Re, which is owned by the state-owned direct insurer DUNAV, is the leading reinsurer with a market share of 38,21% in 2012. WIENER Re, owned by Prague based VIG Re, is holding a market share of 36.78%," told xprimm, Vidan SLANA, CEO WIENER Re a.d.o. Beograd, member of the Vienna Insurance Group.

SERBIA plans reform of pension system by year end

Serbia's First Deputy Prime Minister Aleksandar Vucic said that the government's objective is to create a healthy and sustainable economy, and confirmed that the reform of the pension system will be completed by the end of winter.

SERBIA, 1Q2013: Slowing down without leaving the positive territory

On the Serbian insurance market the first quarter of 2013 didn't bring significant changes, unless the somewhat slowed pace visible both on the life and non-life business side. Thus, the market indicators denominated in local currency show a 2.29% y-o-y overall growth rate in 1Q2012, as compared with the FY2012 growth rate of 7.24%. The same trend is noticeable for the y-o-y comparison, as in 1Q2012 the Serbian's insurance market growth rate stood at 3.9%.

SERBIA: IFC is in talks on becoming a minority shareholder in DUNAV Osiguranje

The International Finance Corporation (IFC) is in talks on becoming a minority shareholder in Serbia's state-owned insurance company Dunav Osiguranje, with a stake of up to 20%, with the aim to improve the insurer's corporate governance, according to Finance and Economy Minister Mladjan Dinkic. This would help Serbia get a better price and find a good-quality strategic partner for Dunav in the future. He also said that Cacanska Banka will be sold if it attracts serious interest.

SERBIA, FY 2012: Currency depreciation pushes market's dynamic under the zero line

With a 1.3% annual decrease in GWP, the Serbian insurance market mirrored the recession challenging the country in 2012. The mentioned decrease rate corresponds to the market figures denominated in European currency and is obviously affected by the 8% depreciation of the Serbian currency in relation to Euro. Thus, in Serbian Dinars, the insurance market showed a positive evolution last year, of 7.2%.

SERBIA: Slovenian TRIGLAV would like to buy DDOR COMPANY in Serbia. DDOR representatives say: "We are not for sale"

President of the Management Board of the Slovenian TRIGLAV, Matjaz RAKOVEC, said this company was interested in buying the Croatian CROATIA Insurance and the Serbian DDOR. After only several days, this statement caused a stock price jump of TRIGLAV on the Ljubljana Stock Exchange. The General Manager of DDOR Company, Christian Otto NOE, characterized this statement as a "creation of market rumors before serious business intention was expressed" and said that DDOR was not for sale.

SERBIA: General Manager at DUNAV Insurance Company changed

The biggest insurance company in Serbia, DUNAV Insurance Company, will appoint new General Manager as of mid-December: former General Manager Milenka JEZDIMIROVIC, who has held this position since 2009, resigned in early December reportedly for personal reasons. Former Chairman of the Supervisory Board of DUNAV insurance, Marko CULIBRK will replace her, as Acting Director in the next six months.