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Dunav Re is a Shareholding Reinsurance Company, with a large experience in the field of reinsurance.
Its main shareholder is Dunav Insurance Company, who holds more than 90% of its equity.
Dunav Re is a Shareholding Reinsurance Company, with a large experience in the field of reinsurance.
Its main shareholder is Dunav Insurance Company, who holds more than 90% of its equity.
Since 2005, Dunav Re has undergone major restructuring in response to the new Insurance Law, which has involved changing its senior management, rationalising its staffing levels, writing off its accumulated bad debts and increasing its retention for 50% (compared to the previous year). The company has also undergone capitalisation which have raised its capital to more than EUR 8 M.
Although 53% of its business derives from its parent company Dunav, Dunav Re is also the leading market reinsurer in Serbia with a total of nine domestic cedants. It also writes international inwards business from former Yugoslav Republics as well as from CCE countries.
Ambitiously planned business policy goals for 2006 have been fully accomplished in an extremely competitive market and constantly changing environment. Dunav Re has overcome all challenges and has quickly adapted to all requirements of a new Law on Insurance, brought in 2004.
Main characteristic of our business policy is strong commitment to our clients. Our main goal is to fulfill their needs and requirements, by providing full and reliable reinsurance protection. Dunav Re has a long established ties with the renowned reinsurers who all have excellent security ratings, and its presence on the European Insurance Market is maintained through decades.
More than 70% of the reinsurance market in Serbia, where 3 reinsurance companies are operating, is presently handled by Dunav Re.
Owing to a favourable structure of employees, Dunav Re is capable of accomplishing all tasks and reinsurance requirements for its clients. Twenty insurance companies are now operating on Serbian insurance market. There are also 48 agencies who give services in insurance. 22 companies have lost their licences in the year 2004 and 2005 what has stabilized insurance market. At present, Dunav Re successfully provides reinsurance protection for 15 ceding companies.
