The National Bank of Serbia published its second-quarter 2026 insurance sector report, showing continued premium and balance sheet growth alongside sufficient capital and liquidity. Total premiums rose 6.9% year on year to RSD 104.3 billion, while sector assets increased 3.4% to RSD 455.7 billion. Life premiums grew 11.4%, lifting their share of total premiums to 17%, while non-life premiums rose 6% and retained an 83% share. The available solvency margin was RSD 67.7 billion, compared with a required margin of RSD 31.8 billion. Capital adequacy ratios stood at 207.1% for predominantly non-life insurers and 231.3% for predominantly life insurers. Technical provisions rose 3.6% to RSD 307.9 billion and were fully invested in prescribed asset classes, while liquid assets were sufficient to cover short-term liabilities. The non-life combined ratio increased to 90.6% from 89.4% a year earlier but remained below 100%. The market continued to comprise 20 insurers and reinsurers, with moderate concentration and the five largest insurers accounting for 73.2% of total premiums. The report also reiterated that full alignment with the Insurance Distribution Directive and implementation of Solvency II will require a new Insurance Law and related secondary legislation, following the drafting work completed in 2025.
National Bank of Serbia reports 6.9% insurance premium growth and capital adequacy above 200% at end-Q2 2026
The National Bank of Serbia reported that insurance premiums rose 6.9% year on year to RSD 104.3 billion at end-Q2 2026, while sector assets increased 3.4% to RSD 455.7 billion. Capital adequacy ratios exceeded 200%, technical provisions were fully invested in prescribed assets and liquidity remained sufficient. Further regulatory reform is planned through a new Insurance Law aligning Serbia with Solvency II and the Insurance Distribution Directive.