DDOR Novi Sad ( sr-cyr, ДДОР Нови Сад) is a Serbian
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
company based in
Novi Sad
Novi Sad ( sr-Cyrl, Нови Сад, ; hu, Újvidék, ; german: Neusatz; see below for other names) is the second largest city in Serbia and the capital of the autonomous province of Vojvodina. It is located in the southern portion of the Pan ...
, Serbia. It is the third largest insurance company in
Serbia
Serbia (, ; Serbian language, Serbian: , , ), officially the Republic of Serbia (Serbian language, Serbian: , , ), is a landlocked country in Southeast Europe, Southeastern and Central Europe, situated at the crossroads of the Pannonian Bas ...
, offering
auto
Auto may refer to:
* An automaton
* An automobile
* An autonomous car
* An automatic transmission
* An auto rickshaw
* Short for automatic
* Auto (art), a form of Portuguese dramatic play
* ''Auto'' (film), 2007 Tamil comedy film
* Auto (play), ...
,
home
A home, or domicile, is a space used as a permanent or semi-permanent residence for one or many humans, and sometimes various companion animals. It is a fully or semi sheltered space and can have both interior and exterior aspects to it. H ...
, commercial and
life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
.
History
In 1945, the government founded the ''National Insurance and Reinsurance Bureau'' after the
Second World War
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
. By 1950 two offices were set up in
Novi Sad
Novi Sad ( sr-Cyrl, Нови Сад, ; hu, Újvidék, ; german: Neusatz; see below for other names) is the second largest city in Serbia and the capital of the autonomous province of Vojvodina. It is located in the southern portion of the Pan ...
. Both offices started operating as branch offices of NIB. By the end of 1961, the ''National Insurance Bureau'' was dissolved. The former NIB's branch offices became insurance bureaus but new insurance bureaus were also founded to cover the area of one or more municipalities.
On the basis of provisions of the ''Law on Insurance Bureau'' and ''Communities of Insurance'' (terminology used during socialism), at the end of 1961, the municipality of Novi Sad made the decision with regard to establishing of the "Novi Sad" Insurance Bureau. Their activities were carried out on the territory of the municipality of Novi Sad and they were considered to be a legal successor to the former NIB, with their headquarters located in Novi Sad. Besides "Novi Sad" Insurance Bureau, that only re-registered its name, in 1968 another insurance firm was established in Novi Sad - "Vojvodina" Insurance Bureau. The two companies merged into one in 1981.
On 25 June 1990, DDOR Novi Sad became the first
joint stock
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are ...
insurance company on the territory of the former
SFR Yugoslavia
The Socialist Federal Republic of Yugoslavia, commonly referred to as SFR Yugoslavia or simply as Yugoslavia, was a country in Central and Southeast Europe. It emerged in 1945, following World War II, and lasted until 1992, with the breakup of Yug ...
.
As of 2016, DDOR Novi Sad has 14.1% of non-life premium income market share and 11.6% of market share in total in Serbia, making it the third largest insurance company in the Serbian insurance market.
Ownership
On 26 July 2006 state office for
privatization
Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...
started the process to sell state shares in the company. On 26 November 2007, it was announced that 100% of the state stake in DDOR was sold to Italian company
Fondiaria-Sai
Fondiaria-Sai S.p.A. was an Italian financial services company based in Turin, founded in 2002 by the merger of La Fondiaria Assicurazioni and Società Assicuratrice Industriale. In 2014 the company was merged by incorporation of Unipol Assicura ...
(now part of
UnipolSai) for
€
The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists o ...
264 million.
As of February 2018, DDOR Novi Sad is fully owned by
UnipolSai.
See also
*
Insurance in Serbia
Insurance in Serbia refers to the market for risk in the Republic of Serbia. Insurance, generally, is a contract in which the insurer ( joint-stock insurance company, mutual insurance company, or reciprocal, for example), agrees to compensate or i ...
References
External links
*
{{Novi Sad, state=autocollapse
1945 establishments in Serbia
Companies based in Novi Sad
Financial services companies established in 1945
Insurance companies of Serbia
Serbian brands
Unipol Group