DDOR at the 6th Serbian Insurance Days

After two days of intensive work at the 6th Serbian Insurance Days, the event was officially closed by Francesco Masci, Chairman of the Executive Board of DDOR Osiguranje. On this occasion, he said that responsible conduct of all participants in the insurance sector is imperative to help clients, the government and the entire economy and society to overcome the impact of the ongoing pandemic and the effects of conflict in Ukraine.

On the first day, the conference was opened by the Governor of the National Bank of Serbia Jorgovanka Tabaković who, among other things, touched on the insurance market over the last 10 years. As the Governor explained, the total amount of insurance premium increased from RSD 61.5 billion in 2012 to RSD 119.4 billion in 2021 and life insurance premium increased from RSD 11.9 billion to 27.1 billion. „What makes these results particularly significant is the fact that the insurance sector managed to maintain its stability this year, despite additional difficulties caused by global uncertainty. We hope that this will continue in the future, and the NBS will continue to enable uninterrupted functioning of our economy and our financial system. Among other things, that implies a healthy insurance market, while at the same time providing protection for insurance service users.“

In addition to seminars on specific topics such as life insurance and the impact of inflation on insurance, or trends and challenges in the cooperation between insurance undertakings and brokers and agents, the conference also included interesting presentations on ESG, capital adequacy in motor insurance, and interpretations of recent changes in the legal regulation of the insurance market.

In his speech at the closing ceremony, Mr. Masci said:

„As insurers, we have a responsibility to our country, our community, insurance service users, employees, and our regulator. Now is the time to move forward, without forgetting the challenges ahead and with the awareness that the strength and development of the country and the economic system are closely linked to the solidity and progress of the insurance sector, which needs a stable political, legal, economic and regulatory framework.” He also pointed out several important conclusions – creating new jobs and wealth is crucial and it should be at the heart of economic policies and business strategies. Public and private sectors joining forces, aimed at attracting foreign capital and supporting local investments, could be a game changer in the development of the economy and advanced capital market. He added that there were plenty of activities which needed to be carried out to remove obstacles to economic and social convergence and to address environmental issues, but they require pragmatism and a sustainable transition from an economic perspective.”

This year’s 6th Serbian Insurance Days, held in Zlatibor, brought together a large number of representatives of insurance companies, banks and the government sector, as well as foreign guests.