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Non-Life Insurance in Serbia, Key Trends and Opportunities to 2020

Non-Life Insurance in Serbia, Key Trends and Opportunities to 2020

Synopsis

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Serbian insurance industry, 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 'Non-Life Insurance in Serbia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Serbian non-life insurance segment, including:

  • The Serbian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Serbian economy and demographics
  • A comparison of the Serbian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Serbian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Serbian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Serbia
  • Details of regulatory policy applicable to the Serbian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Serbia:
  • It provides historical values for the Serbian non-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 non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Serbian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Serbia.
  • It analyzes various natural hazards and their impact on the Serbian insurance industry
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Serbian non-life insurance segment.
  • Assess the competitive dynamics in the non-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
  • Motor insurance accounted for 65.4% of the non-life segment’s gross written premium in 2015.
  • The total number of vehicles in Serbia increased during the review period, indicating an increase in the number of new vehicle registrations.
  • The presence of mandatory liability insurance supported the category's growth during the review period.
  • A rise in imports and exports, and new product launches pertaining to marine, aviation and transit insurance will drive the category over the forecast period.
  • Direct marketing is the largest distribution channel in Serbia, having accounted for 85.1% of the segment’s direct written premium in 2015.
  • The Serbian non-life segment is highly concentrated, with the 10 leading insurers accounting for 98.2% of the gross written premium in 2015.


  • Key Facts and Highlights
    • Table Serbian Non-Life Insurance - Key Facts, 2015
    • Table Serbian Non-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 Non-Life Insurance - Gross Written Premium (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Serbian Non-Life Insurance - Gross Written Premium (RSD Billion and US$ Million), 2015-2020
        • Table Serbian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Serbian Non-Life Insurance - Premium per Capita (RSD and US$), 2011-2015
        • Table Serbian Non-Life Insurance - Premium per Capita (RSD and US$), 2015-2020
      • Policies sold
        • Table Serbian Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Serbian Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Serbian Non-Life Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Non-Life Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
      • Profitability
        • Table Serbian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Serbian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Serbian Non-Life Insurance - Total Assets (RSD Billion and US$ Billion), 2011-2015
        • Table Serbian Non-Life Insurance - Total Assets (RSD Billion and US$ Billion), 2015-2020
  • Outlook by Category
    • Table Serbian Non-Life Insurance - Direct Written Premium by Category (RSD Billion),2011-2015
    • Table Serbian Non-Life Insurance - Direct Written Premium by Category (RSD Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Serbian Property Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2015
        • Table Serbian Property Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2015-2020
      • Policies sold
        • Table Serbian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Serbian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Serbian Property Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
        • Table Serbian Property Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
      • Profitability
        • Table Serbian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Serbian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Serbian Motor Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2015
        • Table Serbian Motor Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2015-2020
      • Policies sold
        • Table Serbian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Serbian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Serbian Motor Insurance - Paid Claims (RSD Billion and US$ Billion), 2011-2015
        • Table Serbian Motor Insurance - Paid Claims (RSD Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Serbian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Serbian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Serbian Liability Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2015
        • Table Serbian Liability Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2015-2020
      • Policies sold
        • Table Serbian Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Serbian Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Serbian Liability Insurance - Paid Claims (RSD Million and US$ Million), 2011-2015
        • Table Serbian Liability Insurance - Paid Claims (RSD Million and US$ Million), 2015-2020
      • Profitability
        • Table Serbian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Serbian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Serbian Transport Network - Global Rankings
      • Premium
        • Table Serbian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2015
        • Table Serbian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2015-2020
      • Policies sold
        • Table Serbian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Serbian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Serbian Marine, Aviation and Transit Insurance - Paid Claims (RSD Million and US$ Million), 2011-2015
        • Table Serbian Marine, Aviation and Transit Insurance - Paid Claims (RSD Million and US$ Million), 2015-2020
      • Profitability
        • Table Serbian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Serbian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Direct marketing
      • Brokers
      • Agencies
      • Bancassurance
      • E-commerce
  • Natural and Man-made Hazards
    • Table Serbian Average Annual Loss by Hazard
    • Flooding
    • Earthquakes
    • Extreme Temperature and Droughts
    • Exposure
  • Competitive Landscape
    • Table Serbian Non-Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Kompanija Dunav Osiguranje ADO - company overview
        • Table Kompanija Dunav Osiguranje ADO - Key Facts
        • Table Kompanija Dunav Osiguranje ADO - Key Financials (RSD Billion), 2011-2015
      • Generali Osiguranje Srbija ADO - company overview
        • Table Generali Osiguranje Srbija ADO - Key Facts
        • Table Generali Osiguranje Srbija ADO- Key Financials (RSD Million), 2011-2015
      • DDOR Novi Sad Osiguranje - company overview
        • Table DDOR Novi Sad Osiguranje - Key Facts
        • Table DDOR Novi Sad Osiguranje - Key Financials (RSD Billion), 2011-2015
      • Wiener Städtische Osiguranje ADO - company overview
        • Table Wiener Stadtische Osiguranje ADO - Key Facts
        • Table Wiener Stadtische Osiguranje ADO - Key Financials (RSD Billion), 2011-2015
      • Uniqa Nezivotno Osiguranje - company overview
        • Table Uniqa Nezivotno Osiguranje - Key Facts
        • Table Uniqa Nezivotno Osiguranje - 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Serbian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Serbian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Serbian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Serbian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Serbian Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Serbian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Serbian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Serbian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Serbian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Serbian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Serbian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Serbian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Serbian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Serbian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Serbian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Serbian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Serbian Non-Life Insurance - Marine, Aviation and Transit Insurance, 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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