On the Serbian insurance market the first quarter of 2013 didn't bring significant changes, unless the somewhat slowed pace visible both on the life and non-life business side. Thus, the market indicators denominated in local currency show a 2.29% y-o-y overall growth rate in 1Q2012, as compared with the FY2012 growth rate of 7.24%. The same trend is noticeable for the y-o-y comparison, as in 1Q2012 the Serbian's insurance market growth rate stood at 3.9%.In absolute figures, Serbian insurers underwrote gross written premium amounting to RSD 15.24 billion (EUR 135.75 million). The result denominated in European currency show a 1.75% y-o-y increase of the premium production. On the life insurance segment, GWP reached RSD 2.8 billion, 9.76% more y-o-y, rising the life segment's share in the portfolio by about 1pp, to 18.4%. The non-life sector witnessed a steady evolution, with a 0.75% y-o-y increase in GWP, to RSD 12.34 billion (EUR 110.77 million).
A closer look will show that with very few exceptions, the non-life business lines show a reversed trens as compared to 1Q2012, many of them moving from a modest positive trend to a clear decrease of the business volume. The only noble exceptions from this picture are the GTPL insurance (from a 9.7% fall in 1Q2012, to 21% growth in 1Q2013) and accident insurance lines (from -1.3% in 1Q2012, to 8% growth in 1Q2013), together accounting for about 10% of the market portfolio.
DUNAV, DELTA Generali and DDOR are maintaining their leading position on the Serbian market, with a aggregated market share of 65%, 1 pp less as compared with 1Q2012. The Top 3 structure is the same for the non-life segment, while on the life insurance sector DELTA Generali leads, followed by WIENER and GRAWE.
Access www.xprimm.com and download the 1Q2013 Serbian insurance market statistics.
Market portfolio (in EUR and RSD):
- Gross written premiums
- Paid claims
- Growth rates
- Total market ranking
- Life insurance ranking
- Non-life insurance ranking
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