SERBIA: "Serbian Insurance Days": in the first three quarters the insurers achieved the best results in the last 10 years in some segments

6 December 2021 — Marina MAGNAVAL
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.

The Governor of the National Bank of Serbia, Jorgovanka TABAKOVI?C, emphasized that insurance that property, life and voluntary health insurance have become more important than ever. "Insurance companies in the first three quarters of this year achieved results that are the best in the last 10 years in some segments.....for the first three quarters, a positive temporary net result of RSD 6.7 billion was achieved. The balance amount of the insurance sector increased by 6.7%, to RSD 334.14 billion, while technical reserves increased by 6.3% to RSD 221 billion", the governor of the National Bank of Serbia said.

"According to the data of the Serbian Chamber of Commerce, preliminary results for the first three quarters of this year confirm the insurance companies' ability to adapt to new circumstances, accept new risks and launch attractive services necessary for the consumers. Our innovation and agility resulted in GWP increase of almost 10%", said Ivana SOKOVIC, the president of the Board of the Association of Serbian Insurers.

Dusko JOVANOVIC, Secretary General of the Association of Insurers of Serbia, stated that the insurance market recorded the best growth in voluntary health insurance of more than 22%, and that insurance policies in agriculture are becoming increasingly popular. "The insurance market will end this year with 8% to 9% growth in premiums. We will exceed the "magic limit" of EUR one billion. That means a lot for the insurance industry and for the Republic of Serbia, because money can be invested in infrastructure projects", Jovanovic pointed out.

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