Republic of Serbia : Financial Sector Assessment Program Update: Technical Note on Insurance Sector.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Contributor:

International Monetary Fund, Contributor.

Series:

IMF Staff Country Reports; Country Report ; No. 2010/154

IMF Staff Country Reports

Language:

English

Subjects (All):

Financial services industry--Serbia.

Financial services industry.

Insurance--Serbia.

Insurance.

Physical Description:

1 online resource (30 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2010.

Language Note:

English

Summary:

This Technical Note analyzes the insurance sector in Serbia. The Serbian insurance sector remains small and underdeveloped. Over the last three years, the market experienced little growth in real terms mainly owing to weak economic growth, fierce price competition among the growing number of players, and premium payment difficulties in the industrial sector, which forced many corporate policyholders to cancel their insurance. The paper highlights that the Serbian insurance sector is well capitalized relative to its overall net risk exposure.

Contents:

Cover; Contents; Abbreviations; Preface; I. Overall Assessment; A. Market Overview; B. Financial and Underwriting Performance of the Sector; Tables; 1. Key Indicators of Insurance Sector Performance, 2006-09; C. Insurance Regulation; D. Outstanding Issues; E. Recommendations; Risk-based Supervision; Tax Incentives for Non-Life Insurance; Tax Incentives for Life Insurance; Simplification of Licensing Requirements for Life Insurance Agents; Development of New Catastrophic Risk Insurance Products; Consumer Education Campaign; Funding of MTPL Claims; Privatization of Dunav

Liberalization of the Domestic Reinsurance MarketSeparation of Life and Non-life Insurance; II. Current State of the Serbian Insurance Market; 2. Gross Premium Written per Capita, 2008; 3. Gross Premium Written, by Business Line, 2006-09; III. Assessment of Financial and Underwriting Performance; 4. Number of Policies Issued, by Business Line, 2006-08; A. Financial Strength; Solvency; 5. Key Indicators of Insurance Sector Performance, 2006-09; Leverage; Technical Reserves; Receivables; Liquidity; B. Underwriting Performance; Claims Ratio; 6. Claims Ratio, 2006-08; Combined Ratio

C. ReinsuranceIV. Insurance Regulation; A. Regulatory and Legal Acts; B. NBS Regulatory Capabilities; 7. Number of Supervisory Staff, Insurance Companies, and Brokers, 2007-09; Regulatory Policy Work; Licensing; Off-site Supervision; On-site Supervision; Consumer Protection; V. Main Legacy Issues; 8. Claim Settlement, 2006-08; A. Unresolved MTPL Claims; B. Privatization of Dunav; C. Two-Step Reinsurance Requirement; 9. Financial and Underwriting Performance Ratios of Dunav, 2007-09; D. Premium Taxation; E. Separation of Life and Non-life Insurance; VI. Recommendations

A. Risk-Based SupervisionB. Tax Incentives; Non-Life Insurance; Life Insurance; C. Simpler Licensing Requirements for Life Insurance Agents; D. Development of New Property Insurance Products; E. Consumer Education on Insurance Products; F. Legacy Issues; Funding of MTPL Claims; Privatization of Dunav; G. Liberalization of the Domestic Reinsurance Market; H. Separation of Life and Non-life Insurance; Appendix A. Gross Written Premium per Capita in Select Countries

Notes:

"May 2010".

Description based on print version record.

ISBN:

9786613875082

9781455277216

1455277215

9781455294978

1455294977

9781283562638

1283562634

9781455204830

1455204838

OCLC:

870597516