Serbia

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe.
- Neighbours: Croatia, Bosnia and Herzegovina, Montenegro, Albania, Macedonia, Bulgaria, Romania.

Climate:
- in the north, continental climate (cold winters and hot, humid summers with well distributed rainfall);
- in other parts, continental and Mediterranean climate (relatively cold winters with heavy snowfall and hot, dry summers and autumns).

Natural hazards:
- destructive earthquakes.

Macro indicators
* 2018 estimates
Surface:88,361km2
Population*:7.0million
Pop. density*:79.1people/km2
GDP*:42.9EUR billion
GDP/capita*:6,139.1EUR

European Union:
Official candidate

Currency: Dinar
Code: RSD
Since: 2006


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:24%
TOTAL NON-LIFE*:76%
Overall Property*:20%
Overall Motor*:43%


Sources:



 



SorS Academy: a new educational structure for insurers in ex-Yugoslavia starts operating

SorS Academy was founded with the aim of providing education for insurance professionals in an innovative and unique way. The fast-track training it will provide might be a solution to the obvious problem of a lack of employees in the insurance and reinsurance industry in the area. SorS Academy is headquartered in Belgrade, Serbia.










SERBIA: inflation triggered a 12% - 15% rise in the MTPL premiums

MTPL premiums went up, depending on the insurance provider, by 12% - 15% for all vehicle categories, osiguranje.hr reported quoting the Association of Insurers of Serbia (UOS). After the "prices war" in August 2022, this time the prices are harmonized with the National Bank of Serbia (NBS), the association said.

STATISTICS: Serbia's insurers business expanded by 12.20% y-o-y during 3Q2022

Serbian insurance market ended the first three quarters of 2022 with aggregate GWP worth RSD 99.39 billion (~EUR 847 million), up by 12.20% y-o-y, according to the quarterly figures published on the website of National Bank of Serbia (NBS). Non-life GWP was up by 14.31% y-o-y to RSD 79.17 billion, while the life insurance segment totaled RSD 20.22 billion, up by 4.64% y-o-y.




SERBIA: 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.