STATISTICS: MACEDONIA, 3Q2015: The number of MTPL contracts rose by 16,616 units

In January-September 2015, Macedonian insurers reported GWP of MKD 6.3 billion (EUR 102 million), 7.8% up y-o-y, as data published by the Insurance Supervision Agency of Macedonia show. As in previous reporting periods, non-life insurance premiums dominated the market portfolio, and accounted for 89% of the aggregate GWP (MKD 5.6 billion.

In terms of insurance contracts, during 3Q2015, the insurers issued a total of 938,916 policies (vs. 885,084 a year before). 5,559 of total were life insurance policies, while 933,916 were non-life as follows: 520,720 - MTPL contracts (vs. 502,104), 309,448 - travel, 270,017 - accidents, 54,674 - fire and allied perils, 43,248 - other damages to property, 31,688 - motor hull, 18,300 - GTPL.

At the "claims chapter", during January-September 2015, motor vehicle insurance was prevalent in the total paid claims premiums with more than 60% (MKD 1.4 billion of MKD 2.3 billion), of which 49% - MTPL insurance and 11% - voluntary motor hull insurance.

At the same time, during the reporting period, Macedonian insurers liquidated a total of 35,415 claims (vs. 34,715 in 3Q2014), of which 16,819 - MTPL (vs. 16,146), 5,173 - motor hull and 1,011 - life insurance.

In the non-life insurance segment, TRIGLAV remained the market leader (18.2% market share) followed by MAKEDONIJA (12.8%) and EUROLINK (12.4%).

The life insurance segment was led by CROATIA (43.3% market share) and GRAWE (41.6%) followed WINNER (9.5%) and UNIQA (5.6%).

Access www.xprimm.com and download the 3Q2015 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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