Evaluating the Level of Market Concentration in Insurance Sector: the case of Serbia

The financial system in Serbia is still dominantly bank-centric and bank intermediation channel is of great importance. Despite the low share of insurance companies in total balance sheet amount of Serbian financial sector which in 2017 amounted approximately to 6.3%, within the referent period 2007-2017 the positive growth trend was noticeable. With that regard and taking into account the raising importance of domestic insurance market sector, in this paper in period 2007-2017 the dynamic analysis of selected concentration indices for Serbia was conducted. The results indicate that the insurance market in the Republic of Serbia is characterized by medium supply concentration. Furthermore, a significant change in the intensity of competition was also noticed