North Macedonia


Location map
author: OCHA/ ReliefWeb

- Southeastern Europe;
- Neighbours: Greece, Albania, Kosovo, Serbia, Bulgaria.

- warm, dry summers and autumns;
- relatively cold winters with heavy snowfall.

Natural hazards:
- high seismic risks.

Macro indicators
* 2018 estimates
Pop. density*:80.9people/km2
GDP*:10.7EUR billion

European Union:
Official candidate

Currency: Denar
Code: MKD
Since: 1993

Insurance market portfolio
* 2018 estimates
Overall Property*:17%
Overall Motor*:52%




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Macedonia 1H2020 Insurance Companies Rankings

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Macedonia 1H2020 Market Portfolio

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Latest news

MACEDONIA: Vardar reported 5-percent growth

Gross premiums of insurance company Vardar osiguranje, which is a member of the largest insurance company on the Balkans - Ljubljana-based Triglav, increased by 5 percent in the first six months this year, to EUR 11.2 million. Non-consolidated damage payment amounted to EUR 6.39 million, which accounted for a growth of 1 percent in the same period.

MACEDONIA: Slovenian owner increased capital of Sava Tabak

Macedonian insurance company Sava Tabak, which is in the majority ownership of Slovenian reinsurance company Sava Re, posted a drop of 34 percent in revenues from non-consolidated gross premiums, to EUR 5.9 million in the first six months this year, compared to EUR 9 million in the same period last year.

VIG expands on the life insurance market in Macedonia

Insurance company WINNER Osiguruvanje, member of VIENNA Insurance Group, received from the national supervisory authority its practice license for life insurance, starting January the 1st, 2011.

VIENNA Insurance enters the Macedonian life insurance market

After the announced market entry in Montenegro, VIENNA Insurance Group continues strengthening its presence in Central and Eastern Europe and plans to establish a life insurance company in Macedonia. The Group has already been represented in the non-life insurance sector of Macedonia through WINNER VIENNA Insurance Group since 2007.