Net profit of the insurance sector RSD 2.8 billion in 2015

The insurance sector made a positive net result in 2015, which amounted to RSD 2.8 billion after taxation and distribution of a part of the profit, announced the National Bank of Serbia (NBS) on July 20.

The total premium of insurance companies in 2015 amounted to RSD 80.9 billion, which is a nominal and real increase by 16.6% and 14.9% respectively.

Non-life insurance amounted to 76.1%, whereas life insurance increased from 23.1% in 2014 to 23.9% in 2015, thanks to the growth of life insurance premium by 21% relative to the previous year.

Only five types of non-life insurance, namely, workers’ compensation insurance, motor vehicle insurance, fire and other perils insurance, other property insurance and motor vehicle liability insurance, participated with 67.1% in the structure of the total portfolio.

In 2015, 24 insurance companies were active in Serbia, one fewer than in 2014. Of these, 20 provide insurance services exclusively, whereas 4 provide reinsurance services exclusively.

Five companies provide life insurance exclusively, nine provide non-life insurance exclusively, and six companies provide both.

From the perspective of the ownership structure of the capital, 18 of the 24 companies in 2015 are under majority foreign ownership.

Narodna banka Srbije Beograd

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