The National Bank of Serbia announced that the aggregate GWP by insurers active in the market increased by 10.15% last year, reaching RSD 89.14 billion (about EUR 722 million).

Life insurance premium income increased by 19.4%, reaching RSD 23.12 billion, or 26% of total premium, while the non-life GWP grew by 7.2%, boosted by a 91% increase in credit insurance, 29% in GTPL line and 41% growth in health insurance.

At the same time, Compulsory MTPL business line totaled RSD 30.3 billion and had a 34% share of the total market.

The aggregate value of paid claims of Serbian insurance companies came in at RSD 33.4 billion in 2016, up by 8.7% y-o-y.

According to the Serbian Central Bank figures, the state-owned DUNAV Osiguranje was the country's top insurer by GWP (25.7% market share), followed by GENERALI Osiguranje (EUR 22.3%) and DDOR Novi Sad (11.6%).

Access www.xprimm.com and download the FY2016 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