ANALYSIS OF MARKET CONCENTRATION IN THE INSURANCE SECTOR OF THE REPUBLIC OF SERBIA

Analysis and measurement of concentration in insurance market is important since it allows for the estimation of the actual state in the relevant market and/or the assessment of changes that could occur in the future. The subject of this research is the analysis of the level of concentration in the insurance market of the Republic of Serbia through the prism of two indicators: concentration ratio (CR) and Herfindal-Hirschman concentration index (HHI), for the time period as of 2014 to 2020. The results of the research revealed the concentration presence in the local insurance market.

Key words: concentration, insurance market of the Republic of Serbia, concentration ratio, Herfindal-Hirschman concentration index.