NORTH MACEDONIA: Non-life paid claims in November reached EUR 9 million

9 January 2024 — Marina MAGNAVAL
In November this year total payment for damages covered by non-life insurance reached MKD 550 million (EUR 9 million). Compared to October, the value of paid claims in the segment increased by 45%, according to the preliminary data of Insurance Supervision Agency (ISA), the ISA said.

The largest damage in November, worth EUR 900,000, was paid in property insurance. As much as 54% of the non-life damages paid were reimbursement of medical expenses covered by private health insurance. Compared to November 2022, the value of paid damages increased by 10%.

Of all voluntary classes, property insurance had the largest share in paid claims in November. The insurance companies paid out MKD 132.3 million (EUR 2.15 million), and a total of 710 claims were paid.

In Motor Hull the insurance companies paid 790 claims in November with a total value of MKD 72.3 million (EUR 1.17 million), which is 28% more than in November 2022.

The largest number of claims was paid in private health insurance - 6,773 claims. In November, MKD 66.6 million (EUR 1.08 million) were paid to cover medical expenses (+29% y-o-y).

MKD 225.8 million (EUR 3.67 million) was paid out in the largest class – MTPL. The total number of claims reached 2,845.

In the total non-life claims paid in November, CROATIA Insurance has the largest share of 16.8%. From January to November, all 11 non-life insurance companies paid MKD 3.9 billion (EUR 63.5 million) to policyholders.