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

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