BMI View: On the whole, Serbia's insurance sector is under-developed and small, yet it continues to drawinterest from some of Europe's largest insurance groups. Life insurance, in particular, is expected to growrapidly over the period 2017-2021, a result of the country's economic developments and improvements inhousehold income and spending levels. The benefits of this macroeconomic backdrop should to some extentalso transfer to the non-life segment, where demand exists especially for motor and property insurance.
Key Updates And Forecasts
Accounting for roughly 25% of total written insurance premiums, life insurance constitutes the smallermajor segment in Serbia's insurance sector. In 2017, life insurance premiums will amount to RSD23.1bn(USD197mn). However, over the period 2017-2021, we expect the segment to outpace the non-lifesegment as it will grow by 8.5% on average each year, ultimately reaching RSD32.0bn (USD266mn) in2021.