Serbia Insurance Report - Business Monitor International - Industry Reports

Serbia Insurance Report

Serbia Insurance Report - Business Monitor International - Industry Reports
Serbia Insurance Report
Published Aug 20, 2016
63 pages — Published Aug 20, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

With penetration still extremely low compared with many other CEE markets, we see significant longer- term growth potential in Serbia s life insurance market. However, we caution that, as Serbia is one of the poorer states in the CEE region, household disposable income is low compared with other markets. ...However, we caution that, as Serbia is one of the poorer states in the CEE region, household disposable income is low compared with other markets. This means that spending on life insurance policies is more vulnerable to exogenous and endogenous economic shocks than in other markets where individuals are better placed to invest and spend money on non-essential items throughout periods of financial hardship. As a result, we expect premiums growth to be more variable from year to year than it might be elsewhere. ...A number of both local and multinational insurers have formed agreements with Serbian banks to distribute life insurance products over the past few years, including Generali, VIG, AXA and Dunav. While in some cases bancassurance agreements have been extended to include non-life as well as life insurance products, we note that this remains a relatively limited practice in Serbia, with Generali being one of few major underwriters to have so far explored this avenue.

...Life insurance premiums are expected to continue to expand in local currency terms during ----, by -.- , while currency market movements will result in slower growth in US dollar terms of -.- , leading to total premiums of RSD--.-bn (USD---mn). Improved distribution and rising income rates will lead premiums to expand at a steady pace over the next few years, with growth set to average --.- per year in local currency terms, which will see life premiums reach RSD--.-bn (USD---mn) in ----; in local currency terms, this is an upward revision of RSD-bn compared to previous forecasts. ...Life insurance premiums are expected to continue to expand in local currency terms during ----, by -.- , while currency market movements will result in slower growth in US dollar terms of -.- , leading to total premiums of RSD--.-bn (USD---mn). Improved distribution and rising income rates will lead premiums to expand at a steady pace over the next few years, with growth set to average --.- per year in local currency terms, which will see life premiums reach RSD--.-bn (USD---mn) in ----; in local currency terms, this is an upward revision of RSD-bn compared to previous forecasts. Our medium-term forecasts also show steadily rising growth from ---- onwards in US dollar terms as the country exchange rate situation starts to normalise. ...Roughly -.-mn or --.- of the population are aged -- years and above, and life expectancy in Serbia has increased in the past few years due to an increased public health initiative aimed at preventing infectious disease, protecting mental health and managing tobacco use. The average life expectancy in Serbia is -- years, and

...Vienna Insurance Group (VIG) is expanding its presence in Serbia, announcing in July ---- that it will acquire the Serbian life and non-life subsidiaries of AXA (Axa Zivotno osiguranje Ado and Axa Nezivotno osiguranje Ado) which together wrote over EUR--mn of premiums in ----. The financial terms of the transaction, which is subject to regulatory approval, have not been released. ...

  
Source:
Document ID
1754-2197
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Serbia Insurance Report" Aug 20, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Serbia-Insurance-Report-2026-688>
  
APA:
Business Monitor International - Industry Reports. (2016). Serbia Insurance Report Aug 20, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Serbia-Insurance-Report-2026-688>
  
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