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Net profit of the insurance sector RSD 2.8bn in 2015 - Serbia Business

Net profit of the insurance sector RSD 2.8bn in 2015

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

The total premium of insurance companies in 2015 amounted to RSD 80.9bn, 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.

Source; Wise broker