At the end of 2012 Kosovo's insurers posted total gross written premiums of EUR 81.5 million, up 4.4% y-o-y, according to the financial figures published by the Central Bank of the Republic of Kosovo (CBK). During 2012, the number of policies sold by insurance companies was 757.2 thousand, representing an annual increase of 25%.

The activities of insurance companies continued to focus mainly on third party liability policies, which generate 54% of all premiums, while the remaining part of the GWP came from voluntary insurance policies.

According to CBK, in 2012, the value of GWP obtained from the sale of TPL policies amounted to EUR 44.2 million, 3.4% less y-o-y. The rest of GWP consists of voluntary insurance policies (EUR 22.6 million, 28% of total premiums) and border insurance policies (EUR 14.7 million, 52.6% more y-o-y).

The growing GWP was followed by a higher growth in claims paid, which in 2012 reached EUR 30.6 million (an annual increase of 14% compared with 2011). The ratio between gross written premiums and claims paid in 2012 was 37.5%, while in 2011 it was 34.3%, which indicates that the number of claims paid is increasing faster than the underwritings volume.

Access www.xprimm.com and download the FY2012 Kosovo insurance market statistics.