NORTH MACEDONIA: in 2023 every third insured vehicle had a Green Card policy

16 January 2024 — Marina MAGNAVAL
In 2023, vehicle owners paid about EUR 87 million for motor liability insurance. Of that amount EUR 21 million was paid for Green Card policies, according to the Insurance Supervision Agency (ISA).

Citizens, companies, and institutions insured more than 697,700 vehicles (passenger and cargo vehicles, buses, motorcycles, tractors, trailers, and special vehicles) in 2023. The total number of vehicles with mandatory motor liability insurance policies in 2023 increased by 5% y-o-y, according to preliminary data submitted to the ISA by the National Insurance Bureau.

At that, every third insured vehicle also had a Green Card policy. In 2023, all 11 insurance companies issued 260,815 Green Card policies, this number was 8% more y-o-y. Total amount invested in Green Card policies last year reached MKD 1.3 billion (EUR 21.16 million).

According to the Bureau, in 2023 citizens, companies and institutions bought a total of 958,528 vehicle insurance policies in the country and abroad. Total amount invested into motor liability insurance last year reached MKD 5.33 billion (EUR 86.75 million), which indicates a 6.5% increase.