Serbian insurers ended 1H2024 with total GWP worth EUR 759.86 million, which is 13.38% more y-o-y, according to the half-year statistics published by the National Bank of Serbia (NBS).

The market is dominated by non-life insurance, which generates 82% of all premiums. The largest non-life classes with double-digit market shares – MTPL, damages to property, health insurance, Motor Hull all recorded y-o-y growth. Life insurance saw a modest annual increase of 8% and its share in the market portfolio dropped to 17.70%.

Total paid claims increased by 15.88% to EUR 327.36 million, driven by increases reported on almost all non-life insurance subclasses. Motor insurance paid claims rose by almost 22%, while in property insurance companies paid ~25% more than in the same period a year ago.

In GWP terms, DUNAV Osiguranje remains the market leader, with a 26.46% market share, followed by GENERALI Osiguranje with a 17.62% market share, while Wiener moved one position down, yielding third place to DDOR (11.28%).

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