NORTH MACEDONIA: the number of contracts concluded in 9M jumped 32% y-o-y

21 December 2021 — Marina MAGNAVAL
The number of insurance contracts concluded in the first 9 months of 2021 increased by 32% and exceeded 1.13 million, according to official data from the Insurance Supervision Agency (ISA).

There is a significant increase in interest in property insurance, travel insurance, private health insurance, financial loss insurance, general liability insurance and compulsory motor insurance. According to the agency, non-life insurance completely overcame the shock caused by the COVID-19 last year.

Private health insurance remains the fastest growing insurance product this year. The number of private health insurance contracts increased by 42% and exceeded 12,800 units. As expected, due to relaxation of restrictive health measures, this year there is a large growth in sales of travel insurance. Life insurance companies sold 216,000 travel insurance policies, more than double the same period in 2020. Compulsory motor liability remains the class with the largest share in total sales. For the first nine months, 490,000 insurance contracts were concluded.

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