Serbian Gross Premiums Rose 3.9% in First Quarter

Gross written insurance premiums in Serbia rose 3.9 percent in the first quarter, led by growth in life insurance policies.

The premiums totaled 14.9 billion dinars ($162 million) in the first three months, with life insurance growing 11.2 percent to 2.56 billion dinars, and non-life insurance expanding 2.5 percent to 12.33 billion dinars, according to a central bank report.

Three top insurers in the country, Dunav Osiguranje AD (DNOS), DDOR Novi Sad AD (DDNS) and Delta Osiguranje AD (DEOS), a unit of Assicurazioni Generali SpA (G), control about two-thirds of the market, even as their combined share shrank to 66.1 percent from 67.4 percent a year ago, as more companies entered the market, the Belgrade-based Narodna banka Srbije said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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