The insurance market of Serbia ended 2024 with aggregate GWP worth EUR 1.51 billion, up by 14.41% y-o-y), of which non-life insurance amounted to EUR 1.23 billion (+16.08%), while the life insurance segment totaled EUR 280 million, up by 7.56% y-o-y.

The value of paid claims expanded by 11.19% y-o-y to EUR 739.79 million, of which EUR 186.81 million - life indemnities (up by 3.65%) and EUR 552.97 million (+14% y-o-y) related to non-life classes.

Property insurance saw a double digit GWP growth rate, of 18.17% y-o-y, to EUR 296.6 million, while paid claims for the contracts in this class decreased y-o-y by 4.3%.

On the motor insurance side, the Motor Hull line saw the most impressive premiums growth - 18.8%, to EUR 169.16 million. For MTPL insurance class premiums grew by almost 10% y-o-y, to EUR 433.67 million. The bad news came from the claims expenses side: while motor insurance premiums grew overall by 12.27%, paid claims for motor insurance contracts went up by 19.5%, mostly driven by the MTPL segment.

Access xprimm.com and download the latest Serbian insurance market statistics (in EUR and RSD).