Insurance premium in the first quarter rose up to 27.2%

According to the NBS report, for insurance sector in the first quarter of 2015, insurance companies’ balance-sheet amount was increased at the end of the first quarter of 2015 to 179.3 billion RSD (1.5 bil EUR ) and up to 19.3% compared to the same period last year.

The capital fall of 1.1% is recorded and that is 35.1 billion RSD.

In Serbia’s market, in the first quarter of 2015 25 insurance companies was in business – three less than in the same period last year, with the reduction of number of employees to 11.255 at the rate of 2,5%, stated NBS.

In the total insurance premium, participation of non-life insurances is dominant and it is 78.4 % in the first quarter of 2015. The increase of participation of non-life insurances from 77.8% in the same period in 2014 is a result of a more significant premium rise of these insurances (28,1%) than the rise of non-life insurance premium(23.9%).

The above mentioned non-life insurance premium increase in the first quarter of 2015is a consequence of car insurance premium and property insurance premium growth of 45%.

The NBS has also stated that the increase of technical reserves of the insurance sector in Serbia of 27.6% has been realized as well as their full coverage both in life insurances and in non-life insurances