; capital rose by 0. 1 %, to rsd 68. 5 bn ; technical provisions gained 5. 7 %, coming at rsd 234. 3 bn. slide 4 : the current risks heightened the awareness about the importance of insurance it can generally be observed that the pandemic additionally heightened health concerns and awareness, bringing to the fore the importance of investment into financial security and the need for adequate asset coverage. the greatest absolute increase in the insurance premium was recorded for : 2 / 6 bis - central bankers'speeches property insurance, voluntary health insurance, motor third party liability insurance, full coverage motor vehicle insurance – " kasko ", and travel assistance insurance, which reflected the greatest impact of the pandemic in the year of the pandemic outbreak. slide 5 : nbs as the supervisor and regulator of the insurance market – activities in the service of citizens and corporates as for the responses of the national bank of serbia, as the supervisor and regulator of the insurance sector, in this challenging year of global uncertainty and crises we continued to take regulatory measures, some of which were part of joint efforts of all economic policy makers aimed at preserving the stability and living standard of citizens in the existing circumstances, that are in no way simple. if everyone carefully calibrates their decisions within the bounds of their authority, it will be easier to weather the global crises and their negative effects! for example, in may this year we adopted the decision on application of the sex factor in insurance which implements the provisions of the law on gender equality. i wish to particularly underline the cooperation with the insurers'association in the adoption of this regulation, which attracted considerable public attention. the decision introduced the greatest changes in undertakings'operations related to life insurance by equalizing insurance premium between men and women. in other words, insurance undertakings can no longer use the sex factor in pricing which entails differences in individual premiums and benefits. further, by amending the decision on reporting by insurance / reinsurance undertakings we prescribed the obligation for undertakings to timely submit information to the national bank of serbia about profit distribution and planned dates of dividend payment to shareholders. these amendments were adopted so that we could take timely action in our supervisory capacity to preserve the stability of an undertaking's financial position when that is assessed to be in the best interest of the insured persons. in august we also adopted the decision amending the decision on the system of governance in insurance / reinsurance undertaking,

##rial rules, as well as good business practices and business ethics. we were guided by the understanding that the insurance service must serve its main purpose, i. e. be the protection from various types of risks and a considerable assistance in difficult life and business circumstances. at the same time, 1 / 6 bis - central bankers'speeches our measures ensured stable and predictable business conditions for all financial market participants, including the insurance sector. slide 2 : figures confirm a decade of stable growth of the insurance industry as a result, and despite the numerous challenges we faced, we may call the period behind us a decade of stable growth. the data show that all key performance indicators of insurance industry progressed on an upward path during the ten years, which is a relevant period for analysing trends and drawing conclusions. concretely, the amounts of capital, total assets, technical provisions and life insurance premium more than doubled, which also impacted the positive trend of premium per capita ( from eur 75 to eur 149 ) and insurance premium to gdp ratio ( from 1. 6 % to 1. 9 % ). total insurance premium rose from rsd 61. 5 bn in 2012 to rsd 119. 4 bn in 2021 and life insurance premium from rsd 11. 9 bn to rsd 27. 1 bn. the amount of settled damage claims also increased twofold – from rsd 27 bn to rsd 56. 8 bn. slide 3 : stability of the insurance market was preserved even amid the pronounced global uncertainty what gives special importance to this result is the fact that even in conditions of additionally constrained business activities, aggravated by the global uncertainty in 2022, the stability of the insurance sector was preserved. the first three quarters of this year saw a positive interim net result of rsd 5. 8 bn, with the capital adequacy ratio by far exceeding the regulatory requirement. insurance and reinsurance undertakings preserved the value of the investment portfolio and ensured technical provisions sufficient to meet the liabilities under the concluded insurance contracts. the total insurance premium in the first three quarters of 2022 went up by 12. 2 % y - o - y, a growth rate much higher than the average rate achieved during the same period in the past ten years ( 6. 9 % ). also, comparing the first three quarters of 2022 with the same period of 2021, the following indicator changes can be observed : balance sheet total of the insurance sector increased by 2. 7 %, to rsd 343. 2 bn