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Serbia Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates

BMI View:

Serbia's insurance market is one of the smaller markets in the region, with limited rates of penetration and density, particularly in the nascent life sector. Development of the insurance market has been hampered in the past by a weak domestic economy. However, we do expect to see an improvement in economic growth over the medium term, supporting our forecasts for steady growth in life and non-life insurance premiums written by the end of our forecast period in 2019, though currency fluctuations will result in a short-term contraction in US dollar terms.


Key Updates And Forecasts

- Serbia and Kosovo have completed a motor insurance arrangement to reduce costs for drivers crossing borders, though considerable restrictions remain in terms of the recognised validity of regional vehicle registration plates.
- The non-life sector, which currently accounts for around three quarters of premiums written in the Serbian insurance market, is expected to grow steadily in local currency terms, with premiums increasing
from RSD52.5bn in 2015 to RSD59.4mn in 2019.

Table Of Contents

Serbia Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Serbia 2012-2019) . 5
SWOT 6
Insurance . 6
Industry Forecast . 8
Life Premiums Forecast 8
Table: Life Premiums (Serbia 2012-2019) . 10
Table: Life Insurance Claims (Serbia 2007-2014) . . 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Serbia 2012-2019) . . 13
Table: Non-Life Insurance Claims (Serbia 2008-2014) 15
Non-Life Sub-Sector Forecast .. 16
Table: Non-Life Insurance Premiums By Product Line (Serbia 2012-2019) 24
Industry Risk Reward Ratings 25
Emerging Europe Risk/Reward Index . 25
Table: Emerging Europe Insurance Risk/Reward Index . . 26
Market Overview 27
Life Insurance Market Overview .. 27
The Product Offering 27
Competitive Landscape 27
Table: Serbia Life Insurance Market Share, 2007-2014 (USDmn) . 29
Non-Life Insurance Market Overview . 30
The Product Offering 30
The Competitive Landscape 31
Table: Serbia Non Life Insurance Market, 2007-2014 (USDmn) . . 33
Company Profile . 35
DDOR Novi Sad .. 35
Dunav Insurance Company 37
Generali 40
UNIQA Group . 44
Vienna Insurance Group (VIG) 47
Methodology . 51
Industry Forecast Methodology . 51
Risk/Reward Index Methodology 54
Table: Indicators . 56
Table: Weighting of Indicators . 57

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