September 22 (SeeNews) - The combined total premium income of Serbian insurance companies for the second quarter rose 9.9% on the year to 45.2 billion dinars ($411.1 million/366.2 million euro), central bank data showed.
Non-life insurance made up 78% of the total premium income, down from 78.7% in the second quarter of 2015, while life insurance accounted for 22%, up from 21.3% last year thanks to a nominal growth in life insurance premiums of 13%, the data, published by the National Bank of Serbia (NBS) on Wednesday, indicated.
The premium income on the non-life insurance segment rose 9% year-on-year in April-June, with the motor third party liability (MTPL) insurance premium up 4%, premium for accident insurance up 7.7%, and premium for full coverage motor vehicle insurance (casco) up 12.4%.
The share of voluntary health insurance premium increased to 3.2% from 2.4% in the second quarter of 2015 on the back of a nominal growth in premiums of 46.6%.
The total assets of Serbian insurers grew 16.9% on the year to 209.4 billion dinars at end-June. Their capital expanded by 26.6% to 43.8 billion dinars.
State-owned Dunav Osiguranje [BEL:DNOS] remained the country's top insurer by premium income, with a 27.8% share, followed by Generali with a 23% share, and DDOR with 12.1%.
A total of 23 insurers operated in Serbia in the second quarter, one down from last year, with 19 companies engaged in insurance activities only and four in reinsurance activities. Of the insurance firms, five were exclusive life insurers, eight exclusive non-life insurers, while six provided both life and non-life insurance.
The breakdown by ownership shows that of the 23 insurers, 17 were in majority foreign ownership.
(1 euro=123.446 dinars)