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TRADITIONALLY DEDICATED EFFORT, PASSION AND COMMITMENT Continuation of structural reforms, implementation and development in the capital market are critical factors, which can elevate people’s living standard FRANCESCO MASCI
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Chairman of the Executve Board of DDOR osiguranje
ll segments of businesses could be affected by high energy prices and inflation. We talked with Francesco Masci, Chairman of the Executive Board of DDOR osiguranje, about the business environment, underrepresented insurance in Serbia, the development of agriculture and DDOR’s part in it.
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ITALY 2022
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You were appointed Chairman of the Executive Board of DDOR osiguranje a few months ago. Were you familiar with the business environment in which DDOR had been operating in Serbia before your appointment? Do you think that anything changed, especially in the insurance sector, since your appointment? � International experience makes it easier to get acquainted with a new environment. Being a member of DDOR’s Supervisory Board for over one year prior to taking over the position of CEO gave me the opportunity to get to know the company well. Also, I found the dynamics of the business environment both very similar to those in the developing markets, yet specific to Serbia. That being said, DDOR’s recognition in the market and our staff’s expertise is something that is complemented by being part of one of the top Italian and European insurance market stakeholders – Unipol Group. This symbiotic relationship enables a competitive ad-
Our focus will be on staying competitive and providing the top service to our clients vantage that facilitates development. The risk is to observe structurally high energy prices, uncomfortably high inflation and a macro slowdown. Governments will play a pivotal role in trying to cushion the impact on the economy, whilst central banks have a delicate task to stamp out inflation without causing recession and avoiding the spectre of stagflation. We are once again navigating uncharted waters in
uncertain times, and it is very difficult to foresee how the situation will eventually unfold, as well as its outcome. The insurance industry is exposed to such a potential setback in the economy - all segments of businesses could be affected, due to the increase in the cost of claims and all the discretionary ones which will suffer from the decrease in the purchasing power. DDOR was declared the most successful company in the service sector in Vojvodina in 2021. Do you think that you will be able to maintain that reputation and how can the company advance even further? � DDOR is a successful financial institution and ranks third in the Serbian in-
