An almost 3% growth in GWP, to EUR 113.95 million, driven by the positive development of the property insurance and life insurance lines - these are the main 2012 coordinates of one of the smallest CEE markets, FYROM. According to data provided by the supervising authority, the main growth factors were: introduction of new innovative products, enlargement of the risk coverage, development of alternative distribution channels and broader insurance awareness of the potential policy holders.
Macedonian non-life insurance company Osiguritelna Polisa said its net profit rose to 67 million denars (USD1.4 million/1.1 million euro) in 2012 from 44.2 million denars a year earlier.
Austria's Vienna Insurance Group (VIG) said on Tuesday it has completed the acquisition of a majority stake in QBE Makedonija, raising its share in the Southeast European country to a marketing-leading 20% plus.
Austria's Vienna Insurance Group (VIG) acquired 92.9% of Macedonian
insurer QBE Makedonija for some 1.4 billion denars (EUR 21.7 million),
the Macedonian financial regulator said on Friday.
Macedonia's financial regulator said it allowed Austria's Vienna Insurance Group (VIG) to launch a takeover bid for all the shares issued by local insurer QBE Makedonija.
In January-September 2012, Macedonian insurers wrote MKD 5.3 billion in premiums (EUR 86.2 million), which represented an increase of 2.6%, as the figures published by the Insurance Supervision Agency of Macedonia showed. Regarding the market dynamics, the Macedonian insurance market reported a continual growth on both segments: non-life insurance premiums increased by 1.4%, while life insurance premiums increased by 20.6%.
Macedonia's OHRIDSKA Banka has launched a credit life insurance service, the first product of this kind on the local market, it said.
Slovenian reinsurer SAVA Re said on Tuesday it has completed the recapitalization of its Macedonian unit SAVA Osiguruvanje with EUR 2.0 million.
The premium income of Macedonian insurer EUROINS Osiguruvanje rose 6.1% to EUR 5.8 million (USD 7.5 million) in the first nine months of 2012, its Sofia-based parent company, EUROHOLD Bulgaria, said on Tuesday.
VIENNA Insurance Group signed an agreement to acquire around 75% of the
voting rights with the Macedonian insurer QBE Makedonija. The transaction is
subject to regulatory approval.
Macedonian insurance companies posted combined gross written premiums of MKD 1.71 billion (EUR 27.7 million) in 1Q2012, up from MKD 1.59 billion a year earlier, Insurance Supervision Agency figures indicated. Non-life insurance premiums accounted for 93.5% of the total insurance premiums (MKD 1.60 billion), while the life insurance segment accounted for the remainder of the market (MKD 110 million).
Macedonian non-life insurer Triglav Osiguruvanje plans to close the year
with a profit of 40 million denars (USD 807,970/EUR 650,410), it said.
The premium income of Macedonian insurer Euroins Osiguruvanje rose by an annual 5.18% to 3.707 million euro in the first half of 2012, its Sofia-based parent company Eurohold Bulgaria said on Monday.
The net assets managed by Macedonia's two mandatory pension funds totalled 18.6 billion denars ($373 million/302 million euro) at the end of June, up 2.6% on the month, official data showed.
The net assets managed by Macedonia's two mandatory pension funds totalled 18.12 billion denars ($372.3 million/294.1 million euro) at the end of May, up 1.3% on the month, official data showed.
Slovenian reinsurer Sava Re plans to recapitalise its Macedonian unit in the fourth quarter of 2012, a senior official from the parent company said on Monday.
Macedonian non-life insurer Triglav Osiguruvanje said it turned to a net loss of some 49.1 million denars ($995,730/796,590 euro) in the first quarter of 2012 from a net profit of 184.5 million denars a year earlier.
Macedonian life insurer Croatia Osiguruvanje-Zivot said its audited net profit rose to 14.3 million denars ($290,660/231,945 euro) in 2011 from 13.9 million denars a year earlier.
Macedonian non-life insurance company Osiguritelna Polisa said its audited net profit rose to 44.2 million denars ($949,690/717,960 euro) in 2011 from 42.6 denars a year earlier.
Osiguruvanje Kjubi Makedonija said last year it turned to a net loss of 70.13 million denars ($1.5 million/1.1 million euro) from its non-life insurance operations and to a net loss of 1.579 million denars on the life insurance segment.