Insurance industry in Serbia in 2021 will have a premium growth of 8.5 to nine percent (VIDEO)
The Secretary General of the Association of Insurers of Serbia, Dusko Jovanovic, stated today that the domestic insurance market managed to adjust its business to the conditions of the pandemic, and that the year will probably end with an increase in premiums between 8.5 and nine.“That means that we will exceed that magic limit of one billion euros of the total premium on an annual level,” Jovanovic said at the conference “Serbian Insurance Days 2021” in Arandjelovac.

He explained that the insurance companies in Serbia already in the first year of the pandemic managed to adapt relatively quickly and efficiently to business in those conditions and to make a slight growth, in order to function more efficiently this year, with growth for the first six months slightly higher than eight percent premiums, while in nine months that percentage rose to more than nine percent.

“The premium of one billion euros on an annual level provides technical reserves of all insurance companies for over two billion euros, which can be well invested in certain infrastructure and state projects,” said Jovanović.

He also pointed out that the insurance market in Serbia this year has the highest growth in the part of voluntary health insurance, which, as he specified, has taken precedence in the development of insurance.

“Growth is higher than 20 percent in the first two months of this year,” he said.

Jovanovic explained that, given that domestic health care was in the kovid system, a large number of citizens decided to buy voluntary health insurance, because in that way he could use the services of private health institutions.

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