In 3Q2018, the Serbian insurance market totaled RSD 74.6 billion (EUR 630 million), representing an increase of 5.2% on a year earlier, according to the statistics published by the National Bank of Serbia (NBS).

The value of paid claims on non-life segment increased by 8.1% y-o-y to RSD 21.3 billion (EUR 180 million), while the value of life indemnities increased by 22.4% to RSD 7.6 billion (EUR 64.5 million).

As in previous reporting periods, the non-life insurance classes accounted for the dominant share in GWP portfolio (77.3%), of which almost 34% was accounted by MTPL, ~19% by the two property sub-segments, and 9% by Motor hull insurance.

The market hierarchy was dominated by the first two companies - the state owned DUNAV Osiguranje (26.7% market share) and GENERALI Osiguranje Srbija (22%). Top 5 was completed by the Novi Sad based - DDOR, WIENER (member of Austrian VIG) and the local subsidiary of Slovenian TRIGLAV - the first five insurers covering 78.4% of the market.

Access www.xprimm.com and download the 3Q2018 Serbian insurance market statistics.