Personal Accident and Health Insurance in Serbia, Key Trends and Opportunities to 2020

Personal Accident and Health Insurance in Serbia, Key Trends and Opportunities to 2020

Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.1.3 Claims
5.1.4 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.2.3 Claims
5.2.4 Profitability
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Policies
5.3.3 Claims
5.3.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Direct marketing
6.1.2 Brokers
6.1.3 Bancassurance
6.1.4 Agencies
6.1.5 Other distribution channels
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Kompanija Dunav Osiguranje - company overview
7.1.2 DDOR Novi Sad Osiguranje - company overview
7.1.3 Generali Osiguranje Srbija - company overview
7.1.4 Uniqa Zivotno Osiguranje - company overview
7.1.5 Axa Neživotno Osiguranje - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life Insurance
8.3.2 Property Insurance
8.3.3 Motor Insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Health insurance
8.4.2 Personal accident insurance for passengers on public transport
8.4.3 Aviation liability insurance
8.4.4 Motor third-party liability insurance
8.4.5 Marine liability insurance
8.4.6 Liability Insurance for bank deposits
8.4.7 Liability insurance for tour operators
8.4.8 Clinical trials liability insurance
8.4.9 Professional indemnity insurance for insurance brokers
8.4.10 Liability insurance for oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 National Bank of Serbia
8.5.3 Association of Serbian Insurers
8.5.4 Association for Insurance Law of Serbia
8.6 Non-Admitted Insurance Regulation
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Databook
9.1 Policies and Premium
9.1.1 Claims and expenses
9.1.2 Personal accident insurance
9.1.3 Health insurance
9.1.4 Health insurance by product
9.1.5 Travel insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer




List of Tables
Table 1: Serbian Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Serbian Personal Accident and Health Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Serbian Government Credit Ratings, 2016
Table 4: Serbian Personal Accident and Health Insurance - Gross Written Premium (RSD Billion and US$ Million), 2011-2015
Table 5: Serbian Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Serbian Personal Accident and Health Insurance - Gross Written Premium (RSD Billion and US$ Million), 2015-2020
Table 7: Serbian Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Serbian Personal Accident and Health Insurance - Premium per Capita (RSD and US$), 2011-2015
Table 9: Serbian Personal Accident and Health Insurance - Premium per Capita (RSD and US$), 2015-2020
Table 10: Serbian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 11: Serbian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 12: Serbian Personal Accident and Health Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
Table 13: Serbian Personal Accident and Health Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
Table 14: Serbian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 15: Serbian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 16: Serbian Personal Accident and Health Insurance - Total Assets (RSD Billion and US$ Million), 2011-2015
Table 17: Serbian Personal Accident and Health Insurance - Total Assets (RSD Billion and US$ Million), 2015-2020
Table 18: Serbian Personal Accident and Health Insurance - Direct Written Premium by Category (RSD Billion),2011-2015
Table 19: Serbian Personal Accident and Health Insurance - Direct Written Premium by Category (RSD Billion), 2015-2020
Table 20: Serbian Personal Accident Insurance - Direct Written Premium (RSD Billion and US$ Million), 2011-2015
Table 21: Serbian Personal Accident Insurance - Direct Written Premium (RSD Billion and US$ Million), 2015-2020
Table 22: Serbian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 23: Serbian Personal Accident Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 24: Serbian Personal Accident Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
Table 25: Serbian Personal Accident Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
Table 26: Serbian Personal Accident Insurance - Loss Ratio (%), 2011-2015
Table 27: Serbian Personal Accident Insurance - Loss Ratio (%), 2015-2020
Table 28: Serbian Health Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2015
Table 29: Serbian Health Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2015-2020
Table 30: Serbian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
Table 31: Serbian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
Table 32: Serbian Health Insurance - Paid Claims (RSD Billion and US$ Million), 2011-2015
Table 33: Serbian Health Insurance - Paid Claims (RSD Billion and US$ Million), 2015-2020
Table 34: Serbian Health Insurance - Loss Ratio (%), 2011-2015
Table 35: Serbian Health Insurance - Loss Ratio (%), 2015-2020
Table 36: Serbian Travel Insurance - Direct Written Premium (RSD Billion), 2011-2015
Table 37: Serbian Travel Insurance - Direct Written Premium (RSD Billion), 2015-2020
Table 38: Serbian Travel Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 39: Serbian Travel Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 40: Serbian Travel Insurance - Paid Claims (RSD Million and US$ Million), 2011-2015
Table 41: Serbian Travel Insurance - Paid Claims (RSD Million and US$ Million), 2015-2020
Table 42: Serbian Travel Insurance - Loss Ratio (%), 2011-2015
Table 43: Serbian Travel Insurance - Loss Ratio (%), 2015-2020
Table 44: Serbian Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
Table 45: Kompanija Dunav Osiguranje ADO - Key Facts
Table 46: Kompanija Dunav Osiguranje ADO - Key Financials (RSD Million), 2011-2015
Table 47: DDOR Novi Sad Osiguranje - Key Facts
Table 48: DDOR Novi Sad Osiguranje - Key Financials (RSD Million), 2011-2015
Table 49: Generali Osiguranje Srbija - Key Facts
Table 50: Generali Osiguranje Srbija - Key Financials (RSD Million), 2011-2015
Table 51: Uniqa Zivotno Osiguranje - Key Facts
Table 52: Uniqa Zivotno Osiguranje - Key Financials (RSD Million), 2011-2015
Table 53: Axa Neživotno Osiguranje - Key Facts
Table 54: Axa Neživotno Osiguranje - Key Financials (RSD Million), 2011-2015
Table 55: Serbia - Insurance Regulatory Framework Key Features
Table 56: Serbia - Life Insurance Regulatory Framework
Table 57: Serbia - Property Insurance Regulatory Framework
Table 58: Serbia - Motor Insurance Regulatory Framework
Table 59: Serbia - Bonus-Malus System
Table 60: Serbia - Liability Insurance Regulatory Framework
Table 61: Serbia - Minimum Cover Under Passenger Liability Insurance for Aircraft Owners
Table 62: Serbia - Minimum Capital Requirements
Table 63: Serbia - Corporate Tax Rates for the Financial Year 2016
Table 64: Serbian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 65: Serbian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 66: Serbian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 67: Serbian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 68: Serbian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 69: Serbian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 70: Serbian Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 71: Serbian Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 72: Serbian Personal Accident and Health Insurance - Health by Product, 2011-2015
Table 73: Serbian Personal Accident and Health Insurance - Health by Product, 2015-2020
Table 74: Serbian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 75: Serbian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 76: Insurance Industry Definitions




List of Figures
Figure 1: Serbian Real GDP (RSD Trillion), 2011-2020
Figure 2: Serbian Consumer Price Inflation (%), 2011-2020
Figure 3: Exchange Rate (RSD-US$ and %), 2011-2020
Figure 4: Serbian Unemployment Rate (%), 2011-2020
Figure 5: Serbian Population by Age Group (Million), 1991-2025
Figure 6: Serbian Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Serbian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Serbian Personal Accident and Health Insurance - Gross Written Premium (RSD Billion), 2011-2020
Figure 9: Serbian Personal Accident and Health Insurance - Penetration (%), 2011-2020
Figure 10: Serbian Personal Accident and Health Insurance - Premium per Capita (RSD), 2011-2020
Figure 11: Serbian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 12: Serbian Personal Accident and Health Insurance - Paid Claims (RSD Billion), 2011-2020
Figure 13: Serbian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
Figure 14: Serbian Personal Accident and Health Insurance - Total Assets (RSD Billion), 2011-2020
Figure 15: Serbian Personal Accident and Health Insurance - Direct Written Premium by Category (RSD Billion), 2011-2020
Figure 16: Serbian Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 17: Serbian Personal Accident Insurance - Direct Written Premium (RSD Billion), 2011-2020
Figure 18: Serbian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 19: Serbian Personal Accident Insurance - Paid Claims (RSD Billion), 2011-2020
Figure 20: Serbian Personal Accident Insurance - Earned Premium, Incurred Loss and Loss Ratio (RSD Billion and %), 2011-2020
Figure 21: Serbian Health Insurance - Direct Written Premium by Sub-Category (RSD Billion), 2011-2020
Figure 22: Serbian Health Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 23: Serbian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2020
Figure 24: Serbian Health Insurance - Paid Claims (RSD Billion), 2011-2020
Figure 25: Serbian Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (RSD Billion and %), 2011-2020
Figure 26: Serbian Travel Insurance - Direct Written Premium (RSD Billion), 2011-2020
Figure 27: Serbian Travel Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 28: Serbian Travel Insurance - Paid Claims (RSD Billion), 2011-2020
Figure 29: Serbian Travel Insurance - Earned Premium, Incurred Loss and Loss Ratio (RSD Billion and %), 2011-2020
Figure 30: Serbian Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (%), 2015
Figure 31: Serbian Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
Figure 32: Serbia - Insurance Supervision and Control at Various Levels
Figure 33: Serbia - Insurance Regulatory Frameworks for Company Registration and Operation

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