Slovenian re/insurance group SAVA Re has acquired a 92.94% stake in Belgrade-based ENERGOPROJEKT GARANT, a small Serbian insurer specialising in construction and liability insurance.

The "Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia" Conference will discuss the technical aspects and characteristic features of drought and livestock disease insurance programs. Representatives of Munich Re and TARSIM will share their own first-hand experience in drought crop insurance.

The insurance company Dunav Osiguranje will realize a profit of around RSD 1.25 billion in 2017, a growth of gross profit by 20% compared to 2016, and end the year with a gross premium of over EUR 200 million.

Serbian insurer Dunav Osiguranje expects its pre-tax profit to rise by 20% to 1.25 billion dinars (10.5 million euro) in 2017, the president of the company, Mirko Petrovic, said on Tuesday.

Serbian insurers' 3Q results show a 6.3% y-o-y increase in GWP (in local currency), to RSD 70.9 billion (EUR 594.1 million), almost half of the additional GWP volume being provided by the motor insurance lines.

Insurer Dunav Osiguranje saw its share of the total premium income of Serbia's insurance sector rise to 27.7% in the first nine months of 2017 from 26.6% in the prior-year period, and the company remains leader in the sector, the central bank said.

Serbian insurers ended 1H2017 with GWP up by 10.3% y-o-y, to EUR 404.2 million, a growth rate slightly helped by the local currency's appreciation. Denominated in Serbian Dinars, the market results show an 8.12% increase in premiums.

Insurer Dunav Osiguranje saw its share of the total premium income of Serbia's insurance sector fall to 27.1% in the first half of 2017 from 27.4% in the prior-year period, but the company remained leader in the sector, the central bank said.

The merger between the Vienna Insurance Group (VIG) company Wiener Stadtische Osiguranje and the two AXA companies that were acquired in the previous year was concluded in August 2017.

Serbia's AXA Non-Life Insurance (AXA Nezivotno Osiguranje) and AXA Life Insurance (AXA Zivotno Osiguranje) have officially been absorbed by Wiener Stadtische Osiguranje. This marks the completion of the acquisition of the two insurers by the Vienna Insurance Group (VIG) in July 2016.

AXA Non-Life Insurance (AXA Nezivotno Osiguranje) and AXA Life Insurance (AXA Zivotno Osiguranje) have officially been absorbed within Wiener Stadtische Osiguranje, WS announced.

The GWP value of Serbian insurers totaled RSD 24.1 billion (EUR 195 million) in the first quarter of 2017, a 10% increase y-o-y, according to the National Bank of Serbia's (NBS) most recent report on the sector.

Insurer Dunav Osiguranje saw its stake of total premium income in the Serbian insurance sector fall to 27.7% in the first quarter of 2017 from 28.3% in the like period of last year, but the company remained the leader in the sector, data by central bank NBS showed.

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).

Serbian state-owned Dunav Osiguranje [BEL:DNOS] said its profit jumped 131.3% to 897.8 million dinars (7.28 million euro) in 2016, with premium income rising 10.5% to 19.8 billion dinars.

The Serbian Government has set the approximate privatization price for DUNAV Osiguranje to EUR 110 million, an article published by the Croatian insurance portal osiguranje.hr reads. Yet, the privatization decision is still pending, as the Government is currently analyzing the results of company's diagnostic review, to determine DUNAV's financial and competitive position before effectively launching the privatization process.

On 25 December 2016, the Commission published a report on the Serbian insurance market, and announced its plan to draft an Insurance Block Exemption Regulation ("IBER"). Except where the specifics of the Serbian insurance market require otherwise, the regulation will be harmonized with the EU Block Exemption Regulation for the Insurance Sector.

Appreciating the fact that Italy is one of the most significant home countries of investors in the Serbian insurance sector and aiming to further enhance insurance supervision in Serbia, the NBS signed a Memorandum of Understanding (MoU) with the Italian Insurance Supervisory Authority (IVASS). The document regulates joint actions and information sharing between the two supervisors, mainly in relation to members of Italian business groups 'Unipol' and 'Generali', i.e. two of the three largest insurers and two of the four reinsurers in Serbia.

For the January-September 2016 period, the aggregate GWP value of Serbian insurers was up by 10% on the year to RSD 66.7 billion (EUR 541 million), the data, published by the National Bank of Serbia (NBS) indicated.