The first half of 2023 the insurance market in Serbia ended with an increase of 16.28% y-o-y, having reached RSD 78.56 billion (EUR 670.17 million), according to the statistics published by the National Bank of Serbia (NBS).

The market is non-life oriented, as non-life insurance occupies 81% of the total portfolio. The market share of life insurance even decreased by the end of June, to 18% from 20% a year earlier.

Paid claims of local insurers totaled RSD 33.11 billion (EUR 282.50 million), which is about 16% more y-o-y. Worth noting impressive growth rates of paid claims recorded by some classes like goods in transit, health insurance, travel insurance. While accidents insurance saw a decrease in paid claims of about 1%.

Top-5 of the overall ranking remained unchanged, with DUNAV being the leader in terms of GWP (26% market share), followed by GENERALI Osiguranje, DDOR, WIENER and TRIGLAV.

Access www.xprimm.com and download the 1H2023 Serbian insurance market statistics.