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: Triglav Osiguruvanje Turns to Q1 Loss

Macedonian non-life insurer Triglav Osiguruvanje said it turned to a net loss of some 49.1 million denars ($995,730/796,590 euro) in the first quarter of 2012 from a net profit of 184.5 million denars a year earlier.

MACEDONIA: Insurer Kjubi Makedonija Turns to Loss in 2011

Osiguruvanje Kjubi Makedonija said last year it turned to a net loss of 70.13 million denars ($1.5 million/1.1 million euro) from its non-life insurance operations and to a net loss of 1.579 million denars on the life insurance segment.

MACEDONIA, FY2011: Figures untouched by global crisis

Figures released by the Insurance Supervision Agency in respect of insurance companies in Macedonia show an increase of 5.02% in total gross premiums written (GPW) over the period 2010 - 2011. The increase in GPW was primarily due to the authorization of new undertakings, and also because many insurers exhibited significant increases in premiums written over the previous year.

MACEDONIA: 3Q results reconfirm market potential

At the end of the first nine months of 2011, Macedonian insurance companies reported a growth of 9.8 percent y-o-y (in local currency). In the analyzed period, premiums reached MKD 5.17 billion or EUR 84 million, informed the Macedonian Insurance Supervision Agency. Non-life insurance sector accounted for MKD 4.86 billion of the total sum, while the remaining MKD 307 million pertains to life insurance premiums. Most insurance policies were signed for motor insurance (58.6%), property insurance (19.5%) and accidents insurance (8.2%). The overall value of claims paid increased by 5.7% to MKD 2.14 billion (EUR 34.7 million).

MACEDONIA: EUR 2 million of Albanian investments in Macedonia in a year

Interest of Albanians in investments in Macedonia has increased. In the past ten months of the year, they have invested some EUR 2 million in Macedonia, confirmed Macedonian economy minister Valjon Saracini, adding that Albanian businessmen have shown the most interest in investments in construction, insurance, hotel industry and Macedonian agriculture.

MACEDONIA: Police arrested in accident scam

Macedonian authorities say 29 people, including 17 police officers, have been arrested on allegations they staged car accidents to collect on insurance claims.

MACEDONIA: Winner osiguranje with 100,000 new customers

A few days ago, Winner osiguranje celebrated a very successful business year, in which the insurance company acquired trust of 100,000 new customers. Continuous growth that Winner osiguranje has achieved in the past few years clearly points to the superior position of the company on the Macedonian insurance market.

MACEDONIA: Triglav osiguranje with profit in Macedonia

Gross premiums of insurance companies Vardar osiguranje increased by 5 percent in the first six months this year, compared to last year when the company reported premiums of EUR 11.2 million. In the first three quarters of this year, the insurer made a profit of EUR 35 million, which is one tenth higher than in the same period last year.