The value of paid claims for private health insurance from January through May this year grew by 28.5% y-o-y. Insureds received MKD 324.4 million (EUR 5.3 million) from insurance companies for medical expenses covered by their private health insurance policies in the first five months, according to data submitted by insurers to the Insurance Supervision Agency (ASO).

This year, insurance companies paid EUR 1.2 million more for medical expenses covered by insurance compared to the same period last year. Private health insurance is the most popular insurance product, among other things, because a growing number of companies use it.

The ASO noted that in the first five months, total paid claims for all non-life classes amounted to MKD 1.95 billion (EUR 31.7 million). Compared to the same period in 2023, it is almost EUR 2 million more, which is about 7%.

The highest growth was observed in travel insurance, where from January to May the insurers paid out MKD 42.9 million (EUR 700,000). This indicates a 40% increase y-o-y.

After private health insurance, among all voluntary classes, the largest volume of paid claims was for MoD-insured vehicles. In five months, the insurers paid out MKD 303.5 million (EUR 4.9 million), which is 26% more y-o-y.

On the other hand, MKD 998.4 million (EUR 16.2 million) was paid out in the largest insurance class, MTPL, which is also mandatory. And that's a little over half of the total paid claims on the market.

The agency added that in the first five months of this year, 11 insurance companies paid in non-life insurance over 58,400 claims to their policyholders.