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Governance, Risk and Compliance – The Serbian Insurance Industry

Governance, Risk and Compliance – The Serbian Insurance Industry


Timetric’s 'Governance, Risk and Compliance – The Serbian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Serbia.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.


The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Serbia, including:

  • An overview of the insurance regulatory framework in Serbia.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Serbia.
  • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
  • The report covers details of the insurance regulatory framework in Serbia.
  • The report contains details of the rules and regulations governing insurance products and entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and companies.
Reasons To Buy
  • Gain insights into the insurance regulatory framework in Serbia.
  • Track the latest regulatory changes, and expected changes impacting the Serbian insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.
Key Highlights
  • The Serbian insurance industry is regulated by the National Bank of Serbia.
  • A new law, the Insurance Law 2014, was implemented to govern the Serbian insurance industry.
  • Composite insurance is not permitted in Serbia, with some exceptions.
  • Non-admitted insurance is not permitted in Serbia.
  • Serbia is expected to join the European Union in 2020.

  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
  • Governance, Risk and Compliance
    • Table Serbia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Serbia - Life Insurance Regulatory Framework
      • Property insurance
        • Table Serbia - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Serbia - Motor Insurance Regulatory Framework
        • Table Serbia - Bonus-Malus System
      • Liability insurance
        • Table Serbia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Health insurance
      • Personal accident insurance for passengers on public transport
      • Aviation liability insurance
        • Table Serbia - Minimum Cover Under Passenger Liability Insurance for Aircraft Owners
      • Motor third-party liability insurance
      • Marine liability insurance
      • Liability Insurance for bank deposits
      • Liability insurance for tour operators
      • Clinical trials liability insurance
      • Professional indemnity insurance for insurance brokers
      • Liability insurance for oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • National Bank of Serbia
      • Association of Serbian Insurers
      • Association for Insurance Law of Serbia
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Serbia - Minimum Capital Requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Serbia - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative Dispute Resolution (ADR)
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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