STATISTICS: SERBIA, FY2019: Local insurers reported positive y-o-y GWP changes

7 May 2020 — Andrei Victor
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).

In GWP terms, the largest non-life business lines were the two motor subclasses - MTPL (~32.9% of total GWP) and Motor hull (9.6%), while property policies (fire, allied perils and other damages to property insurance) accounted for 18.7% of total GWP.

In terms of paid claims, the aggregate value was RSD 52.8 billion (~EUR 449 million), of which the two motor subclasses (MTPL and Motor hull, summed) generated about one third of total.

Last year, Serbia's largest insurer as GWP was DUNAV Osiguranje (26.4% market share), followed by GENERALI Osiguranje (21.5%) and DDOR (11.8%).


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