STATISTICS: Serbian insurers posted 84% decrease in property paid claims during Q1 2021

8 July 2021 — Andrei Victor
Serbian insurers ended Q1 2021 with total GWP worth RSD 27.81 billion (EUR 236.6 million), 3.22% more y-o-y, according to the end-quarter statistics published by the National Bank of Serbia (NBS).

On the claims side, total insurers' payments decreased by 27%, to RSD 11.64 billion, driven by the less compensations paid for the two property classes (-84% y-o-y), payments related to this market segment returning, after two years of considerable increases, to a value close to those reported before 2018.

In order to underline better this variation, below are the payments related to the property segment (fire allied perils & other damages to property, summed) for the period Q1 2013 - Q1 2021:
  • Q1 2013RSD 0.78 bn
  • Q1 2014RSD 0.69 bn
  • Q1 2015RSD 1.22 bn
  • Q1 2016RSD 0.97 bn
  • Q1 2017RSD 1.04 bn
  • Q1 2018RSD 1.28 bn
  • Q1 2019RSD 3.69 bn
  • Q1 2020RSD 6.12 bn
  • Q1 2021RSD 0.99 bn
In terms of GWP, the Top 3 ranking remained the same as in the previous periods: DUNAV Osiguranje leads the market, with a 26.69% market share; GENERALI Osiguranje follows with a 21.63% market share, while DDOR ranks third, with 11.54% of the total GWP.

Access www.xprimm.com and download the 1Q2021 Serbian insurance market statistics.

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