Serbian Dunav osiguranje ended 2022 with GWP worth over EUR 300 million

9 March 2023 — Daniela GHETU
Serbian market leader Dunav osiguranje ended 2022 with gross premium of over EUR 300 million, by as much as EUR 100 million more than just five years ago, the company has announced.

"This result is particularly appreciable if we bear in mind that three pandemic years and a year of war in Ukraine are behind us, which led to a global economic crisis to which the financial sector is particularly sensitive," said Ivana Sokovic, President of the Company's Executive Board.

Dunav is still the market leader with a gross premium that is as much as 11.6% higher than in the previous year 2021. At the same time, growth was achieved both in non-life insurance GWP (11.55%) and in life insurance GWP (11.95%).

Inflation had the greatest impact on the increase in the amount of damages, which were not higher than in previous years, but the average damages were drastically higher due to the increase in the prices of spare parts and working hours. Even in such circumstances, the company maintained an enviable efficiency in solving compensation claims and liquidating damages, which reached over EUR 144 million and were 23.6% more than in 2021.

In the previous year, the Company achieved a net profit of almost EUR 11 million.

In order to adapt the ownership structure to the market circumstances, in cooperation with the Ministry of Finance of the Republic of Serbia, the transformation of social capital was successfully implemented in the Company. This strengthened its capital base and ensured long-term stability and solvency. In the previous year, Dunav paid its shareholders a dividend in the total amount of 1.6 billion dinars.