North Macedonia's insurance companies reported aggregate FY2024 business worth MKD 15.97 billion (~EUR 259.7 million), up by 11.3% y-o-y, according to the preliminary year-end market figures published on the country's Insurance Supervision Agency website. Claims paid by insurers increased by 7.7% to MKD 6.27 billion (~EUR 102 million), of which MKD 5.22 billion - non-life payments and MKD 1.04 billion - life indemnities.

Non-life GWP increased by 10.3% y-o-y to MKD 13.07 billion, while premiums in the life insurance segment totaled MKD 2.9 billion, up by 16.3% y-o-y.

The largest non-life insurer in the country was MAKEDONIJA Insurance s.c. Skopje, member of the Vienna Insurance Group (17.63% market share) – the company resulted following the merger of the two VIG local subsidiaries in 2024, while Croatia Osiguruvanje part of Croatia osiguranje Group - held the largest market share on life segment – 28.5%.

Access www.xprimm.com and download the FY2024 Macedonian insurance market statistics.