Climate: - 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).
"Only two or three percent of households in Serbia are insured against floods, and property insurance has less than 10 percent of households", said the general secretary of the Insurers Association of Serbia, Dusko JOVANOVIC, quoted by osiguranje.hr.
GENERALI announced it donated EUR 100,000 to the Government of the Republic of Serbia to support the healthcare system in the fight against COVID-19 pandemic and to the Fire Eye laboratory for the purchase of lab supplies and equipment, hygiene and disinfection supplies, office supplies and furniture, for the workers' compensation and for the development of research and training potential.
The Serbian insurance market reported a 7.5% y-o-y increase in FY2019 GWP to RSD 107.5 billion (EUR 914 million), according to the NBS's (National Bank of Serbia) year-end figures. Non-life insurance made up 76.7% of total GWP (RSD 82.4 billion, up by 8.2% y-o-y), while the share of life insurance premiums was 23.3.% (RSD 25.1 billion, up by 5.4% y-o-y).
Belgrade-based British Motors, a Serbian car dealer, has increased its stake in the capital of local non-life insurer Globos osiguranje by 15.6% from 71.8% to 87.4% as a part of a buyout bid, wrote kamatika.com here.
Serbian insurers are playing an active role in the general effort of fighting the COVID-19 pandemic, both by supporting at their best their customers and providing financial contributions for the medical effort of fighting the epidemic.
In 2019, the year when it has celebrated 45 years of business under its current name, Serbian market's leader DUNAV Osiguranjerecorded the best results in the last 30 years of its operations, Mirko PETROVIC, President of the Board, said at the Kopaonik Business Forum.
The GWP of Serbian insurers increased 5.9% year-on-year to RSD 79 billion (EUR 672 million*) in the first nine months of 2019, according to the most recent figures published on the website of National Bank of Serbia (NBS).
AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to "bbb-" from "bb+" of Serbian reinsurer DunavRe a.d.o. Belgrade, a subsidiary of Dunav Insurance Company j.s.c. Belgrade. The outlook of the Credit Ratings (ratings) is stable.
DUNAV Osiguranje, a Serbian insurance company based in Belgrade and the largest non-life insurance company in the Serbian insurance market, for the second consecutive year supported the Srem Agricultural Fair - AGROSIRM, that was held on June 8-9, as the company stated on its website.
In 3Q2018, the Serbian insurance market totaled RSD 74.6 billion (EUR 630 million), representing an increase of 5.2% on a year earlier, according to the statistics published by the National Bank of Serbia (NBS).