STATISTICS: KOSOVO insurers reported a 3.5% increase in 2014, supported by positive rates in voluntary classes

Last year, the Kosovo insurance market totaled EUR 80.08 million, or 3.48% more y-o-y, according to the preliminary statistics published by the Central Bank of the Republic of Kosovo (CBK). At the same time, the volume of paid claims by local insurers decreased significantly by 18.90%, to EUR 31.18 million.

The positive dynamic of the local insurance market was strongly supported by the double-digit increases reported by Border policies (11.38%) and other voluntary insurance (13.75%). On the other hand, the largest insurance class (MTPL) reported a 3.63% decrease in GWP - the Central Bank data showed. The GWP market portfolio consisted of about 52.86% Mandatory TPL policies, 18.22% - Border policies, the remaining volume being represented by other voluntary non-life classes (~29%).

At the end of 2014, the total number of policies sold by insurance companies amounted to 998 thousand, compared to 917.5 thousand policies in 2013. Of the total, 332.4 thousand were MTPL policies (vs. 323.7 thousand in 2013), 488.6 thousand - Border policies (vs. 437.2 thousand) and 177.1 thousand other types of voluntary policies (vs. 156.7 thousand).

Note: The figures presented by CBK include only the insurers' activity on the non-life segment.

Access www.xprimm.com and download the FY2014 Kosovo insurance market statistics.

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

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