Serbian insurers' total premiums up 1.4% to EUR 548mn in 2011 - central bank.

By bne IntelliNews April 5, 2012
Serbian insurers' total premiums rose only 1.4% to RSD 57.3bn (EUR 548mn) in 2011, the central bank said in a statement. The share of non-life insurers in total premiums was a dominant 82.6%. The share of life insurers, however, rose to 17.4% in 2011 from 16.5% a year earlier thanks to the segment's 6.8% increase. A total of 28 insurance companies were active in Serbia last year, up by two in comparison with 2010, as Sogaz (a 51/49 joint venture of Russia's Gas Industry Insurance Company and local gas monopoly Srbijagas) was licensed in December 2011. Eleven of them provide solely non-life insurance, seven companies offer exclusively life insurance and six insurers are active in both. The remaining four companies provide reinsurance services. The combined assets of the Serbian insurers rose an annual 7.3% to RSD 125.7bn last year, while the sector's capital increased 3.3% to RSD 33.3bn in the period. The largest insurer during the quarter in terms of assets was state-controlled Dunav Osiguranje, followed by privately held Delta Generali Osiguranje.

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