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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the *n non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Serbia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Serbia non-life (P&C) market as well as trends by line of business. Axco analysts also report on Serbia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Serbia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Serbia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Serbia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Serbia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Serbia is one of six countries which emerged from the ruins of the former Yugoslavia. Although it is the most populous, the legacy of war, sanctions and mismanagement has stunted its economy and the development of its insurance industry. Compulsory motor third party liability (MTPL) is the largest class, accounting for 42.9% of premiums in 2019. A lot of the rest is state-owned enterprise property and fronting policies for foreign direct investors. The market is still dominated by one of the "socially owned" insurers of the past, which wrote 31.3% of non-life premiums in 2019. As a further legacy from the socialist past, inwards and outwards reinsurance may only be transacted by licensed ....
This is a brief extract of information; more updated information may be available in the latest published report.