STATISTICS: KOSOVO 3Q2018: Insurers' net profit decreased by more than one third

8 November 2018 — Andrei Victor
The insurance market of Kosovo totaled EUR 2.1 million at the end of September 2018, 34% less y-o-y (vs. EUR 3.2 million), data provided by the Central Bank (CBK) showed.

Non-life GWP increased by 6% y-o-y to EUR 70.3 million, of which EUR 37 million related to Domestic MTPL, EUR 6 million - Border policies and EUR 25 million - other voluntary classes, according to "The Insurance Companies Activity" published by CBK. At the same time, life insurance premium was up by about 16% y-o-y to EUR 2.2 million, according to the "Financial System - Monthly Information" released on CBK website.

The assets held by Kosovar insurers increased to EUR 181 million (of which EUR 163 million accounted for by the non-life insurers), from EUR 173 million in Q3 2018.

15 insurers were active on the local market, of which 12 - non-life and 3 specialized life insurers. According to CBK, currently eight companies are foreign owned and are holding about 53.5% of total assets.

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