The Insurance Industry in Serbia, Key Trends and Opportunities to 2017

The Insurance Industry in Serbia, Key Trends and Opportunities to 2017

Regular price $1,950.00 Sale

The Serbian insurance industry posted a compound annual growth rate (CAGR) of 4.2% during the review period (2008-2012). Growth was recorded despite the economic decline faced by Serbia due to the eurozone crisis. The growth was primarily due to high foreign investor participation in the Serbian insurance industry following its liberalization in 2006. The industry faces a number of challenges such as high rates of crime and alleged corruption, economic slowdown and the eurozone debt crisis. Government support measures such as subsidized agricultural insurance premiums, amendments to the insurance law which include provisions for entire catastrophic risk of insurers be ceded to reinsurers and extension for deadline of submitting appropriate evidence by composite insurers of harmonized business activities along with tax relief for pension products are all expected to support growth of the Serbian insurance industry.

Report Highlights
  • The Serbian insurance industry posted a compound annual growth rate (CAGR) of 4.2% during the review period (2008-2012).
  • The industry faces a number of challenges such as high rates of crime and alleged corruption, economic slowdown and the eurozone debt crisis.
  • The Serbian insurance industry is dominated by foreign insurance companies.
  • Anticipated liberalization of reinsurers is expected to support the growth of the industry.
  • The non-life segment, which displayed marginal growth during the review period, was the largest contributor to the industry's written premiums in 2012.
  • The life segment grew due to structural changes, and the participation of foreign insurance companies brought a range of new products into the segment.
Report Scope

This report provides a comprehensive analysis of the insurance industry in Serbia:
  • It provides historical values for the Serbian insurance industry for the report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
  • It offers a detailed analysis of the key segments and categories in the Serbian insurance industry, along with forecasts until 2017.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Serbia, and outlines the key regulations affecting them.
Reasons to Get this Report
  • Make strategic business decisions using in-depth historic and forecast industry data related to the Serbian insurance industry and each segment within it.
  • Understand the demand-side dynamics, key trends and growth opportunities within the Serbian insurance industry.
  • Assess the competitive dynamics in the Serbian insurance industry.
  • Identify the growth opportunities and market dynamics within key segments.
  • Gain insights into key regulations governing the Serbian insurance industry and its impact on companies and the industry's future.


Table of Contents

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Serbian Insurance Industry Overview
3.1 Serbian Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Life Insurance
4.1 Life Insurance Growth Prospects by Category
4.1.1 Individual life insurance
4.1.2 Individual general annuity insurance
4.1.3 Individual endowment insurance
4.1.4 Individual term life Insurance
4.1.5 Individual supplementary insurance
4.1.6 Other individual insurance
4.1.7 Group life insurance
4.2 Life Insurance Growth Prospects by Product Type
4.2.1 Individual single-premium policies
4.2.2 Individual non-single-premium policies
4.2.3 Group non-single-premium policies
5 Non-Life Insurance
5.1 Non-Life Insurance Growth Prospects by Category
5.2 Property insurance
5.2.1 Fire and allied perils insurance
5.2.2 Engineering insurance
5.2.3 Agriculture insurance
5.2.4 Other property insurance
5.3 Motor Insurance
5.3.1 Motor hull insurance
5.3.2 Motor third-party insurance
5.4 General Liability Insurance
5.5 Marine, Aviation and Transit Insurance
5.5.1 Marine insurance
5.5.2 Marine hull insurance
5.5.3 Marine third-party insurance
5.5.4 Aviation insurance
5.5.5 Transit insurance
6 Personal Accident and Health Insurance
6.1 Personal Accident and Health Insurance Growth Prospects by Category
6.1.1 Personal accident insurance
6.1.2 Travel insurance
6.1.3 Health insurance
7 Reinsurance
8 Analysis by Distribution Channel
8.1 Life Insurance
8.1.1 Direct marketing
8.1.2 Bancassurance
8.1.3 Agencies
8.1.4 E-commerce
8.1.5 Brokers
8.1.6 Other channels
8.2 Non-Life Insurance
8.2.1 Direct marketing
8.2.2 Bancassurance
8.2.3 Agencies
8.2.4 E-commerce
8.2.5 Brokers
8.2.6 Other channels
8.3 Personal Accident and Health Insurance
8.3.1 Direct marketing
8.3.2 Bancassurance
8.3.3 Agencies
8.3.4 E-commerce
8.3.5 Brokers
8.3.6 Other channels
9 Competitive Landscape
9.1 Overview
9.2 Leading Companies
9.2.1 Dunav Insurance - company overview
9.2.2 Delta Generali Insurance - company overview
9.2.3 DDOR Novi Sad Insurance - company overview
9.2.4 Wiener Stadtische Insurance - company overview
9.2.5 Uniqa nezivotno osiguranje a.d.o. - company overview
10 Economic Indicators
10.1 Market Capitalization Trend - Belgrade Stock Exchange, Serbia
10.2 GDP at Constant Prices (US$)
10.3 GDP Per Capita at Constant Prices (US$)
10.4 GDP at Current Prices (US$)
10.5 GDP Per Capita at Current Prices (US$)
10.6 Inflation Rate
10.7 Exports as a Percentage of GDP
10.8 Imports as a Percentage of GDP
10.9 Total Internet Subscribers
10.1 Unemployment Rate
10.11 Total Population
10.12 Urban and Rural Populations
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Serbian Insurance - Overall Written Premium by Segment (RSD Billion), 2008-2012
Table 3: Serbian Insurance - Overall Written Premium by Segment (US$ Million), 2008-2012
Table 4: Serbian Insurance - Overall Written Premium by Segment (RSD Billion), 2012-2017
Table 5: Serbian Insurance - Overall Written Premium by Segment (US$ Million), 2012-2017
Table 6: Serbian Insurance - Segmentation (Percentage Share), 2008-2017


Companies Mentioned:

Dunav
Delta Gen Osig
DDOR
Wiener
Uniqa Nezivot
Takovo
Grawe
Triglav
AMS
Milenijum