"Despite a difficult environment, UNIQA was able to strengthen its position among the top five insurers in Serbia. While an average increase in premiums of 2% is expected for the market, our premium income rose by more than 15%. According to preliminary figures, our market share rose from 4.8% at the end of 2008 to approximately 5.4% at the end of 2009. This is further proof that we pursue the right strategy: With multifunctional and flexible products, a clear customer focus and professional staff, we set high standards on the Serbian market", says Zoran Visnjic, chairman of the management board of UNIQA osiguranje.

UNIQA Serbia managed to increase the total of premiums collected in non-life assurance (property and health insurance) by 13.6% to a total of 2.32 billion dinar (24.8 million euros). In this connection, particular note should be taken of the continued growth in the third-party liability motor insurance business with an increase of 32.3% to 923 million dinar (9.8 million euros). The life assurance business showed an increase in premium income of 34.8% to 578.8 million dinar (6.2 million euros), which was more than the average market forecast.

Also for the next year, difficult market conditions are expected. Visnjic remains confident: "In 2010, we want to continue to increase profitability of our company and gain additional market shares."

UNIQA Serbia engages in life assurance and property insurance. It has more than 500 employees and 26 branches throughout the country.