Serbia
SERBIA: increasing MTPL prices started a war between motor insurers and the market watchdog
The 22% increase in the MTPL tariffs adopted by Serbian motor insurers in the first week of August started a heated debate between the market players and the National Bank of Serbia (NBS) - the market supervising authority.
25 August 2022SERBIA: MTPL prices have increased by an average of 22%
In the first week of August, insurance companies increased MTPL prices by an average of 22%, with inflation and the subsequent higher prices of spare parts as main causes. There is also an increase in the prices of transport services, damage assessments, as well as in the prices of working hours in service centers, the Association of Serbian Insurers wrote.
9 August 2022STATISTICS: SERBIA, 1Q2022: insurance market posted Q1 double digit increases in GWP and claims
Serbian insurers ended Q1 2022 with total GWP worth RSD 31.5 billion (EUR 267.8 million), 13.4% more y-o-y, according to the end-quarter statistics published by the National Bank of Serbia (NBS).
12 July 2022STATISTICS: SERBIA FY2021: the market has exceeded the EUR 1 billion threshold for the first time
The Serbian insurance market ended 2021 with aggregate GWP worth RSD 119.40 billion (EUR 1.02 billion), up by 8.64% y-o-y, according to the NBS's (National Bank of Serbia) year-end figures.
8 June 2022Serbia, KBF: Insurers and the state should pool forces in order to insure catastrophic risks
A panel of discussions at the Kopaonik Business Forum, the most important event of its kind in Serbia and the region organized by the Serbian Association of Economists has analyzed the lessons learned from the pandemic crisis, as well as the possibility of insuring catastrophic risks, including the pandemic one.
9 March 2022SERBIA: The Association of Serbia Insurers to organize the traditional annual conference
The Association of Serbian Insurers will organize a traditional annual conference together with the Association for Insurance Law of Serbia this year.
8 February 2022STATISTICS: Serbian insurers posted 9.7% y-o-y increase in Q3 business
Serbian insurance market expanded by 9.7% y-o-y during 3Q2021 to RSD 88.5 billion (~EUR 754 million), according to the quarterly figures published on the website of National Bank of Serbia (NBS).
Non-life GWP rose 10.5% y-o-y to RSD 69.2 billion, whereas the life insurance segment earned premiums of RSD 19.3 billion, up by 6.8% y-o-y, as NBS announced.
The value of paid claims totaled RSD 37.3 billion (up by 2.2% y-o-y) of which RSD 12.1 billion - life indemnities (up by 28.6%) and RSD 25.2 billion (-7% y-o-y) related to non-life classes.
In terms of GWP volume, DUNAV was the largest insurance company in the country, accounting for 26.4% of total GWP. GENERALI osiguranje followed with 19.9%, while DDOR was third with 11.8%. A total of 16 insurance companies operated in the country at the end of September 2021.
Access xprimm.com and download the latest Serbian insurance market statistics (in EUR and RSD).
Non-life GWP rose 10.5% y-o-y to RSD 69.2 billion, whereas the life insurance segment earned premiums of RSD 19.3 billion, up by 6.8% y-o-y, as NBS announced.
The value of paid claims totaled RSD 37.3 billion (up by 2.2% y-o-y) of which RSD 12.1 billion - life indemnities (up by 28.6%) and RSD 25.2 billion (-7% y-o-y) related to non-life classes.
In terms of GWP volume, DUNAV was the largest insurance company in the country, accounting for 26.4% of total GWP. GENERALI osiguranje followed with 19.9%, while DDOR was third with 11.8%. A total of 16 insurance companies operated in the country at the end of September 2021.
Access xprimm.com and download the latest Serbian insurance market statistics (in EUR and RSD).
16 December 2021SERBIA: "Serbian Insurance Days": in the first three quarters the insurers achieved the best results in the last 10 years in some segments
The key event with largest gathering in insurance business with participation of more than 250 representatives of insurance companies, banks, the regulatory authority, the ministries of the Government of the Republic of Serbia and state institutions - the 5th edition of "Serbian Insurance Days" was held in Arandjelovac in the end of November.
6 December 2021SERBIA: "Serbian Insurance Days" to be held on November 24-26
The Association of Serbian Insurers announced that "Serbian Insurance Days" will be held on November 24-26 in the hotel "Izvor" in Arandjelovac.
22 November 2021STATISTICS: SERBIA 1H2021: claims paid for property insurance decreased by two thirds improving market profitability
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.
14 October 2021SERBIA: net profit of Dunav Osiguranje went down in H1
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.
30 August 2021AM Best affirms credit ratings of Dunav-Re a.d.o.
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.
5 August 2021SERBIA: a Protocol on Cooperation to improve and develop insurance business signed between Serbia and the Republic Srpska
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.
19 July 2021STATISTICS: Serbian insurers posted 84% decrease in property paid claims during Q1 2021
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).
8 July 2021STATISTICS: Serbian insurers posted increasing 2020 business to EUR 935 million
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.
13 May 2021Dunav osiguranje designated the consumer's favorite insurance brand in Serbia
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.
22 April 2021SERBIA: Appointments in the top management positions at UNIQA Serbia
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.
4 February 2021STATISTICS: SERBIA, 3Q2020: Local insurers' 9 months business expanded 2.2% y-o-y
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).
10 December 2020SERBIA: Snapsheet announced the launch of Appraisals Software with Generali
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.
17 November 2020STATISTICS: SERBIA, 1H2020: Top 3 largest insurers hold for about 60% of the market
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.
22 October 2020
