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Life Insurance in Serbia, Key Trends and Opportunities to 2020

Life Insurance in Serbia, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Serbia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Serbian life insurance segment, and a comparison of the Serbian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Serbian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Serbia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Serbian life insurance segment, including:

  • An overview of the Serbian life insurance segment
  • The Serbian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Serbian economy and demographics
  • A comparison of the Serbian life insurance segment with its regional counterparts
  • The various distribution channels in the Serbian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Serbia
  • Details of regulatory policy applicable to the Serbian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Serbia:
  • It provides historical values for the Serbian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Serbian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Serbian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Serbia.
  • It profiles the top life insurance companies in Serbia and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Serbian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Serbian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Serbian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The life insurance segment accounted for 22.4% of the industry’s gross written premium in 2015.
  • Endowment insurance was the most popular category in the segment; it accounted for 79.1% of its gross written premium in 2015, and is expected to reach 82.6% in 2020.
  • In December 2014, the Serbian government introduced a new insurance law, with particular focus on meeting Solvency II requirements.
  • In order to broaden their customer base, insurers are expected to develop a range of distribution models to reach more potential customers at various locations.
  • The Serbian life insurance segment was highly concentrated, as the five leading insurers accounted for 86.7% of the total written premium generated in 2015.


  • Key Facts and Highlights
    • Table Serbian Life Insurance - Key Facts, 2015
    • Table Serbian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Serbian Government Credit Ratings, 2016
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Serbian Life Insurance - Gross Written Premium (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Life Insurance - Penetration (%), 2011-2015
        • Table Serbian Life Insurance - Gross Written Premium (RSD Billion and US$ Million), 2015-2020
        • Table Serbian Life Insurance - Penetration (%), 2015-2020
        • Table Serbian Life Insurance - Premium per Capita (RSD and US$), 2011-2015
        • Table Serbian Life Insurance - Premium per Capita (RSD and US$), 2015-2020
      • Policies sold
        • Table Serbian Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Serbian Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Serbian Life Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Life Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
      • Assets and investments
        • Table Serbian Life Insurance - Total Assets (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Life Insurance - Total Assets (RSD Billion and US$ Million), 2015-2020
  • Outlook by Sub-Segment
    • Individual Life Insurance
      • Premium
        • Table Serbian Individual Life Insurance - Direct Written Premium by Category (RSD Billion), 2011-2015
        • Table Serbian Individual Life Insurance - Direct Written Premium by Category (RSD Billion), 2015-2020
      • Policies sold
        • Table Serbian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Serbian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Serbian Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Generali Osiguranje Srbija ADO - company overview
        • Table Generali Osiguranje Srbija ADO - Key Facts
        • Table Generali Osiguranje Srbija ADO - Key Financials (RSD Million), 2011-2015
      • Wiener Stadtische Osiguranje - company overview
        • Table Wiener Stadtische Osiguranje - Key Facts
        • Table Wiener Stadtische Osiguranje - Key Financials (RSD Billion), 2011-2015
      • Grawe Osiguranje - company overview
        • Table Grawe Osiguranje - Key Facts
        • Table Grawe Osiguranje - Key Financials, 2011-2015
      • Uniqa Zivotno Osiguranje - company overview
        • Table Uniqa Zivotno Osiguranje - Key Facts
        • Table Uniqa Zivotno Osiguranje - Key Financials (RSD Million), 2011-2015
      • Kompanija Dunav Osiguranje ADO - company overview
        • Table Kompanija Dunav Osiguranje ADO - Key Facts
        • Table Kompanija Dunav Osiguranje ADO - Key Financials (RSD Billion), 2011-2015
  • Governance, Risk and Compliance
    • Table Serbia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • 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 Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
        • Table Serbia - Minimum Capital Requirements
      • Solvency margin
      • 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)
  • Databook
    • Policies and Premium
      • Table Serbian Life Insurance - Policies and Premium, 2011-2015
      • Table Serbian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Serbian Life Insurance - Claims and Expenses, 2011-2015
      • Table Serbian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Serbian Life Insurance - Assets and Investments, 2011-2015
      • Table Serbian Life Insurance - Assets and Investments, 2015-2020
    • Individual Life Insurance
      • Table Serbian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Serbian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Serbian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Serbian Life Insurance - Individual Life Insurance by Product, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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