Now Available: Serbia Insurance Report Q3 2016
Recently published research from Business Monitor International, "Serbia Insurance Report Q3 2016", is now available at Fast Market Research
[ClickPress, Wed Jul 06 2016] Growth in life insurance premiums is set to outpace non-life over the 2016-2020 period as rising household income and lower real interest rates encourage alternative savings. Although there are plenty of opportunities for acquisitions, the small size of the insurance market, currency volatility and relatively low household income will constrain growth potential.
Key Updates And Forecasts
Non-life insurance is more developed than life insurance in Serbia, commanding higher rates of penetration and density. Premiums are expected to grow throughout the forecast period, driven by wider economic growth in the country, and long-term potential remains substantial, with significant capacity to grow rapidly from a low base.
Life insurance is underdeveloped and has the potential for more rapid growth, assisted by lower real interest rates which will encourage alternative avenues for savings. We expect premiums will increase by 8.1% in local currency terms in 2016, which is a downward revision from the 8.8% previously forecast. In US dollar terms, this represents 2.5% growth, compared to 4.8% growth previously forecast, as a result of ongoing currency movements.
Full Report Details at
Serbia continues to improve its regulatory environment. A new insurance law came into effect in 2015 under which all life and non-life insurance companies must operate as separate entities. Composite providers are required to separate their life and non-life businesses. Serbia is also enhancing capitalisation requirements, more in line with the EU-wide introduction of Solvency II regulations.
The Serbia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Serbia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Serbian insurance industry.
Benchmark BMI's independent insurance industry forecasts for Serbia to test other views - a key input for successful budgeting and strategic business planning in Serbia's insurance market.
Target business opportunities and risks in Serbia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
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