Kosovo insruance market totaled about EUR 87.4 million at the end of December 2017, 4.3% more y-o-y, data provided by the Central Bank (CBK) showed. Total gross claims paid increased by 19.7% y-o-y to EUR 46 million.

Non-life GWP totaled EUR 84.9 million (vs. EUR 81.2 million), of which EUR 47.6 million related to Domestic MTPL, EUR 7.1 million - Border policies and EUR 30.2 million - other voluntary classes, according to "The Insurance Companies Activity" published by CBK.

At the same time, life insurance premium decreased by about 3.8% y-o-y to EUR 2.5 million, according to the "Financial System - Monthly Information" released on CBK website.

The aggregate figures of the 15 insurance companies operating in Kosovo revealed that the local insurers turned to a net profit of EUR 6.9 million at the end of December 2017, from a loss of EUR -23.9 million a year earlier.

At the same time, the assets held by Kosovo insurers increased to EUR 177.1 million (of which EUR 155.7 accounted by the 12th non-life insurers), from 162.1 million euro in December 2016.

Note: "The Insurance Companies Activity" published by CBK include only the insurers' activity on non-life segment. The aggregate value of GWP resulted by adding the life insurance GWP according  to the "Financial System - Monthly Information" and the value for non-life GWP  from "the Insurance Companies Activity". 

Access www.xprimm.com and download the FY2017 Kosovo insurance market statistics.