At the end of 2021, the Macedonian insurance market totaled MKD 11.62 billion (EUR 188.7 million), up by 15.5% y-o-y, according to Macedonian ISA preliminary year-end figures.

GWP from non-life insurance was up by 15.7% y-o-y to MKD 9.6 billion (about 82.8% of total GWP), while the life insurance segment reported premiums of MKD 2 billion, 15% more y-o-y, official figures show.

Claims paid by insurers remained increased by more than 16% to MKD 4.66 billion (EUR 75.7 million), of which MKD 4 billion - non-life payments and MKD 0.6 billion - life indemnities.

In terms of GWP, the largest life insurer in the country was the local unit of CROATIA Osiguranje (with GWP of MKD 688 million, ~ 34.4% market share), while the local subsidiary of Slovenian TRIGLAV led the non-life ranking (MKD 1.3 billion, 13.8%).

Access www.xprimm.com and download the FY2021 Macedonian insurance market statistics.