STATISTICS: MACEDONIA, FY2018: Preliminary figures indicate double digit increases for insurance industry

11 April 2019 — Andrei Victor
The preliminary FY2018 statistics provided by Macedonian ISA indicate for the local insurance market a total gross written premiums (GWP) volume of EUR 161.4 million (MKD 9.9 billion), up by 10.4% y-o-y.

Life insurance segment generated a 15.5% y-o-y GWP growth rate, to EUR 27.2 million, while the non-life insurance classes increased by 9.4% y-o-y, reaching EUR 134.3 million.

At the "claims chapter", the aggregate value increased by 9.5% to almost EUR 64 million. Life indemnities' volume went up by 30.6% y-o-y to EUR 5.4 million, while on the non-life segment the aggregate growth rate was 7.9%, accumulating EUR 58.4 million.

The largest life insurers in the country were CROATIA, GRAWE and WINNER VIG. Together, the three mentioned insurers accounted for 93% of the life insurance business. The non-life sector was led by the local subsidiary of Slovenian TRIGLAV (17.3% market share) followed by EUROLINK (12.9%) and MAKEDONIJA VIG (11%).

Access and download the FY2018 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 companies
    • Non-life insurance companies

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