Serbian insurers ended the first half of 2021 with GWP worth EUR 514 million, up by 8.2% y-o-y, while paid claims went down by about 2.3%, to EUR 203.3 million, totally owed to the decreasing claims expenses for the property insurance lines which saw paid claims diminishing to about a third of the 1H2020 sum.
Net profit of the Serbian state-owned insurer Dunav Osiguranje decreased by 8.5% y-o-y to about RSD 1.3 billion (~EUR 8.5 million) in the first six months of 2021, SeeNews reported.
AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Dunav-Re a.d.o. (Dunav-Re) (Serbia), a subsidiary of Dunav osiguranje a.d.o. (Dunav Insurance) (Serbia). The outlook of these Credit Ratings (ratings) is stable.
The Association of Serbian Insurers and the Association of Insurance Companies of the Chamber of Commerce of the Republic Srpska signed a Protocol on Cooperation, which provides for organization of educational meetings to improve and develop insurance business, the Serbian Association said
Serbian insurers ended Q1 2021 with total GWP worth RSD 27.81 billion (EUR 236.6 million), 3.22% more y-o-y, according to the end-quarter statistics published by the National Bank of Serbia (NBS).
The Serbian insurance market reported a 2.3% y-o-y increase in FY2020 GWP to RSD 110 billion (EUR 935 million), according to the NBS's (National Bank of Serbia) year-end figures.
Serbian "Dunav osiguranje" is the winner of this year's award "Consumer's favorite" in the insurance category, designating the most popular brands on the Serbian market. Organized by the association "My Serbia" and with the support of the City of Belgrade, the contest awards the best brands based on the consumers' votes.
Starting with January 1, 2021, UNIQA Serbia has began the process of strategic transformation" UNIQA 3.0" by applying a new governance model which includes the harmonization of processes in 15 markets in Central and Eastern Europe.
Serbian insurers' 3Q2020 business increased 2.17% y-o-y to RSD 80.73 billion (~EUR 687 million*), according to the quarterly figures published on the website of National Bank of Serbia (NBS).
In less than 60 days,
Generali Osiguranje Srbija, a leader in the Serbian insurance market, self-configured and launched the Snapsheet Appraisals with Serbian and English language options, according to a press release of Snapsheet.
The GWP value of Serbian insurers totaled RSD 55.85 billion (EUR 475 million) in the first half of 2020, a 4% increase y-o-y, according to the National Bank of Serbia's (NBS) most recent report on the sector.
On September 28, the Supervisory Board of Sava Non-Life Insurance Belgrade appointed Mirjana BOGICEVIC as President of the Executive Board, the company announced.
The GWP of Serbian insurance companies increased 8.52% in Q1 2020, reaching RSD 26.94 billion ~EUR 229 million), NBS quarterly data showed.
"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 Osiguranje recorded 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).