STATISTICS: MACEDONIA 1H2014: MTPL and damages to property insurance lines are generating 60% of the market

With a total GWP volume of EUR 64.5 million, the Macedonian insurance market recorded, in 1H2014, a 9.7% y-o-y growth rate. Life insurance showed the highest y-o-y growth rate, of almost 20%, but still holds a modest share in the market portfolio (9.7%, up ~1pp y-o-y).

Except for "motor hull" and the "fire and allied perils" classes, all non-life insurance lines recorded a positive dynamic. The "damages to property" insurance line saw a 36.6% y-o-y increase in GWP, thus accounting for about 17% of the market portfolio. As far as the "fire and allied perils" insurance line is concerned, while GWP decreased by 0.6%, to EUR 4.35 million, paid claims saw a 147% surge, to EUR 1.13 million.

GRAWE, CROATIA and WINNER are the Top 3 life insurers, together accounting for almost 94% of the life insurance business in Macedonia. TRIGLAV, OSIGURUVANJE MAKEDONIA and WINNER are holding the first three positions in the non-life ranking, with an aggregated market share of about 44%.

Access www.xprimm.com and download the 1H2014 Macedonian insurance market statistics.

Market portfolio (in MKD and EUR):
  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/Market shares/Growth rates):
  • Life insurance
  • Non-life insurance

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