SERBIA FY2013: Life insurance gains weight

8 May 2014 — Daniela GHETU
serbia-statisticsSerbian insurance market ended 2013 on a positive trend, recording a 4.2% growth rate in GWP terms, to RSD 64 billion (~ EUR 559 million). Due to an impressive increase, of over 18%, life insurance gained a larger share of the market portfolio, reaching a share of almost 22% of the GWP. On the other hand, although still strongly dominating the market, non-life insurance lines' evolution in 2013 may be defined at best as stagnant.

"Insurance sector continued to show resilience since the start of the financial crisis, recording positive trends throughout the period, but below the pre-crisis level. Macroeconomic determinants strongly influence the performance of the insurance market, with GDP growth and unemployment rate being the two most prominent," a representative of the National Bank of Serbia told XPRIMM. Thus, in the non life segment MTPL and property insurance premiums went up slightly, at a pace of 1.25% and 1.7% respectively, while full coverage motor vehicle insurance premium continued to decrease recording a 7% fall written premiums.

DELTA GENERALI, WIENER and GRAWE are the Top 3 life insurance companies, with market shares of 26.2%, 25.5% and 16.2% respectively. On the non-life segment, DUNAV, DELTA GENERALI and DDOR are leading the market, holding market shares of 32.5%, 17.6% and 15.4%.

An extended analysis of the Serbian insurance market evolution in 2013 will be available in the forthcoming issue of XPRIMM Insurance Report FY 2013, to be released on May, 27th.

Access and download the FY2013 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
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