NORTH MACEDONIA: in August non-life insurers paid over EUR 5 million

25 September 2023 — Marina MAGNAVAL
All non-life insurance companies paid over 9,800 claims worth MKD 312.5 million (EUR 5.1 million) in August of 2023 alone. The companies paid for damages covered by insurance 22% (MKD 57.3 million) more than in August of 2022, according to the preliminary data submitted to the Insurance Supervision Agency (ISA) by all 11 non-life companies, the ISA said.

The biggest increases in paid claims in August of this year, compared to the same month last year, were seen in Motor Hull and private health insurance. In August, motor vehicle owners received MKD 63.4 million (EUR 1.03 million) for insured damages, which is 58% higher y-o-y.

For medical expenses covered by private health insurance in August, insured persons were paid MKD 45.1 million (over EUR 733,000), which is 56% more than the same month last year. Half of all claims paid this month refer to private health insurance.

Insureds received MKD 21.2 million (EUR 345,000) for damages to insured property in August. In travel insurance the companies paid MKD 6.3 million (over EUR 100,000) to the insureds (+17% y-o-y).

As expected, the largest amount was paid in MTPL, which is the largest insurance class. In August, MKD 153.8 million (EUR 2.5 million) were paid in the segment, which is 17% more than last year.

The biggest shares in the claims paid belong to Uniqa (12%), Triglav (12.7%), Viner VIG (11%), Sava Insurance (13.8%).