The insurer's GWP in 2021 increased by 5.62% y-o-y. The increase compared to 2020 was observed in property insurance (MKD 48.5 million), liability insurance of motor vehicle owners (MKD 16.6 million), travel insurance (MKD 2.7 million), while accident insurance saw a decrease in the amount of MKD 21 million.
Total net damages increased by 13.4% or in absolute terms - by MKD 25.9 million, mostly in motor liability and property insurance. Insurance business expenses grew by 3.5% or in the total amount of MKD 15.2 million.
Property insurance has the largest share in the company's insurance portfolio (48.6%), followed by motor liability with 28.4%, accident insurance with 7% and Motor Hull with 6.7%. The shares of all other types of insurance do not exceed 5%.
The pandemic period impacted 2021 as well. The company's combined result in 2021 was 100% (2020: 98%). Net investment income increased by 10% or MKD 4.8 million. The company maintained liquidity and solvency at a high level last year. During 2021, no dividend was distributed and paid.
According to the plan for 2022, the insurer expects GWP growth by 2% as well as a certain increase in profit compared to 2021.
*EUR 1 = MKD 61.64
9630 views
