Insurer Osiguruvanje Makedonija, a subsidiary of the Vienna Insurance Group (VIG), said on Wednesday that its non-consolidated net profit rose to 32.6 million denars (530,600 euro) in the first quarter of the year from 11.2 million denars in the prior-year period.

The Macedonian insurance market totalled MKD 8.99 billion (EUR 146.24 million) at the end of 2017, up by 3.10% y-o-y, according to data published by the local Insurance Supervision Agency.

Slovenian SAVA Re announced it got the approval from the Macedonian Agency for Supervision of Fully Funded Pension Insurance (MAPAS) and the required approvals from other competition authorities for the acquisition of NLB Nov penziski fond AD Skopje.

Macedonian insurers reported 3Q2017 aggregate GWP of MKD 6.8 billion (EUR 110.6 million), 2.7% more y-o-y, according to the market figures provided by the Insurance Supervision Agency of Macedonia.

Non-life insurer Osiguruvanje Makedonija, a subsidiary of the Vienna Insurance Group (VIG), said its after-tax profit fell to 56.4 million denars (91,700 euro) in the first nine months of 2017, from 88.0 million denars a year earlier.

Macedonian non-life insurer Triglav Osiguruvanje said on Monday its after-tax profit rose to 73.4 million denars (1.2 million euro) in the first nine months of the year from 59.2 million denars in the same period last year.

Macedonian insurers' GWP increased by 3.13% y-o-y, to MKD 4.62 billion (EUR 74.95 million) in 1H2017, according to the market data provided by the country's insurance supervisory agency.

At the end of March 2017, the Macedonian insurance market totaled about MKD 2.24 billion (EUR 36.37 million), up by 4.68% y-o-y, according to data provided by the local Insurance Supervision Agency.

Macedonian non-life insurer Triglav Osiguruvanje [MSE:VROS], a unit of Slovenian insurance group Triglav, said it has appointed Rok Pivk as second executive director.

Insurance market of Republic of Macedonia grew by about 5% in 2016 to MKD 8.7 billion (~ EUR 142 million) with a concurrent increase of 7.74% in the number of insurance contracts, according to data provided by the local Insurance Supervision Agency.

Macedonian non-life insurer Osiguruvanje Makedonija, a subsidiary of Vienna Insurance Group (VIG), said on Thursday its after-tax profit for the first quarter more than halved to 11.2 million denars (182,800 euro) from 24.4 million denars a year ago.

Macedonian non-life insurer Triglav Osiguruvanje, a unit of Slovenian insurance group Triglav, said its after-tax profit jumped to 54.6 million denars last year from 18.7 million denars in 2015.

Osiguruvanje Makedonija, a subsidiary of Vienna Insurance Group, said on Tuesday it has signed eight insurance services contracts with Macedonian state-owned power producer ELEM.

Over EUR 20 million have been paid by citizens who bought life insurance policies in one of the four insurance companies which offer this type of insurance in Macedonia in 2016. Around 10,000 new clients insured their lives which is a 20% rise as compared with 2015.

The insurance market in Macedonia grew by about 4 percent in 2016, a rate that is lower than expected due to the tense political situation, the Macedonian Chamber of Commerce (SKM) informed on Monday. Klime Poposki, from the Insurance Supervision Agency said that there was a growth in accident insurance of 9.31 percent, while gross property insurance premiums dropped by 7.98 percent, while the number of contracts increased.

Macedonian non-life insurer Triglav Osiguruvanje [MSEVROS], a unit of Slovenian insurance group Triglav, said its profit after-tax increased to 59.24 million denars (USD 1.07 million/962,300 euro) in the first nine months of the year from 40.56 million denars a year earlier mainly due to higher net premium income.

The National Insurance Bureau of the Republic of Macedonia and Croatian Insurance Bureau will sign Friday agreement on protection of visitors. The agreement will allow drivers from both countries to get information and effective compensation for any damage done in case of an accident.

The Macedonian insurance market saw a 4% y-o-y increase in the GWP volume, to EUR 72.7 million. In absolute terms, the life and non-life insurance segments' contribution to the GWP growth was fairly equal. Still, in relation to the size of the two business lines, the growth in life insurance was the most impressive.

The premium income of Macedonian insurer Euroins Osiguruvanje decreased by 3.8% year-on-year to 5.9 million euro for the first eight months of 2016, parent company Eurohold Bulgaria [BUL:4EH] has said.