Read the full story

A.M. Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" to Dunav Re Company a.d.o. Belgrade (Dunav Re) (Serbia), a subsidiary of Dunav Insurance Company j.s.c. Belgrade. (Dunav), a multi-line insurer operating in Serbia.

The Serbian insurance market experienced a 2.4% y-o-y increase in Q1 GWP to RSD 24.7 billion (EUR 208 million), according to the NBS's (National Bank of Serbia) quarterly figures.

Serbian insurer Dunav Osiguranje [BEL:DNOS] has said it will pay a gross dividend of 128.34 dinars (1.09 euro) per share on 2017 earnings.

Serbian insurance market ended 2017 with FWP worth EUR 785.8 million, 8.8% up y-o-y, a result supported in part also by the Serbian Dinar appreciation against the European currency. In local currency, the GWP growth was of only 4.4%. Most of the market growth came from the non-life insurance side, which saw a 11% increase in premiums, thus raising its weight in the market portfolio by about 1.5 percentage points.

Slovenian re/insurance group SAVA Re has acquired a 92.94% stake in Belgrade-based ENERGOPROJEKT GARANT, a small Serbian insurer specialising in construction and liability insurance.

The "Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia" Conference will discuss the technical aspects and characteristic features of drought and livestock disease insurance programs. Representatives of Munich Re and TARSIM will share their own first-hand experience in drought crop insurance.

The insurance company Dunav Osiguranje will realize a profit of around RSD 1.25 billion in 2017, a growth of gross profit by 20% compared to 2016, and end the year with a gross premium of over EUR 200 million.

Serbian insurer Dunav Osiguranje expects its pre-tax profit to rise by 20% to 1.25 billion dinars (10.5 million euro) in 2017, the president of the company, Mirko Petrovic, said on Tuesday.

Serbian insurers' 3Q results show a 6.3% y-o-y increase in GWP (in local currency), to RSD 70.9 billion (EUR 594.1 million), almost half of the additional GWP volume being provided by the motor insurance lines.

Insurer Dunav Osiguranje saw its share of the total premium income of Serbia's insurance sector rise to 27.7% in the first nine months of 2017 from 26.6% in the prior-year period, and the company remains leader in the sector, the central bank said.

Serbian insurers ended 1H2017 with GWP up by 10.3% y-o-y, to EUR 404.2 million, a growth rate slightly helped by the local currency's appreciation. Denominated in Serbian Dinars, the market results show an 8.12% increase in premiums.

Insurer Dunav Osiguranje saw its share of the total premium income of Serbia's insurance sector fall to 27.1% in the first half of 2017 from 27.4% in the prior-year period, but the company remained leader in the sector, the central bank said.

The merger between the Vienna Insurance Group (VIG) company Wiener Stadtische Osiguranje and the two AXA companies that were acquired in the previous year was concluded in August 2017.

Serbia's AXA Non-Life Insurance (AXA Nezivotno Osiguranje) and AXA Life Insurance (AXA Zivotno Osiguranje) have officially been absorbed by Wiener Stadtische Osiguranje. This marks the completion of the acquisition of the two insurers by the Vienna Insurance Group (VIG) in July 2016.

AXA Non-Life Insurance (AXA Nezivotno Osiguranje) and AXA Life Insurance (AXA Zivotno Osiguranje) have officially been absorbed within Wiener Stadtische Osiguranje, WS announced.

The GWP value of Serbian insurers totaled RSD 24.1 billion (EUR 195 million) in the first quarter of 2017, a 10% increase y-o-y, according to the National Bank of Serbia's (NBS) most recent report on the sector.

Insurer Dunav Osiguranje saw its stake of total premium income in the Serbian insurance sector fall to 27.7% in the first quarter of 2017 from 28.3% in the like period of last year, but the company remained the leader in the sector, data by central bank NBS showed.

The National Bank of Serbia announced that the aggregate GWP by insurers active in the market increased by 10.15% last year, reaching RSD 89.14 billion (about EUR 722 million).