STATISTICS: KOSOVO, FY2017: insurers' bottom result returned in the positive area

Kosovo insruance market totaled about EUR 87.4 million at the end of December 2017, 4.3% more y-o-y, data provided by the Central Bank (CBK) showed. Total gross claims paid increased by 19.7% y-o-y to EUR 46 million.

Non-life GWP totaled EUR 84.9 million (vs. EUR 81.2 million), of which EUR 47.6 million related to Domestic MTPL, EUR 7.1 million - Border policies and EUR 30.2 million - other voluntary classes, according to "The Insurance Companies Activity" published by CBK.

At the same time, life insurance premium decreased by about 3.8% y-o-y to EUR 2.5 million, according to the "Financial System - Monthly Information" released on CBK website.

The aggregate figures of the 15 insurance companies operating in Kosovo revealed that the local insurers turned to a net profit of EUR 6.9 million at the end of December 2017, from a loss of EUR -23.9 million a year earlier.

At the same time, the assets held by Kosovo insurers increased to EUR 177.1 million (of which EUR 155.7 accounted by the 12th non-life insurers), from 162.1 million euro in December 2016.

Note: "The Insurance Companies Activity" published by CBK include only the insurers' activity on non-life segment. The aggregate value of GWP resulted by adding the life insurance GWP according  to the "Financial System - Monthly Information" and the value for non-life GWP  from "the Insurance Companies Activity". 

Access www.xprimm.com and download the FY2017 Kosovo insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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