At the end of 2020, the Macedonian insurance market totaled MKD 10 billion (EUR 163 million), down by 5% y-o-y, according to Macedonian ISA preliminary year-end figures.

Claims paid by insurers remained at end-2019 level: MKD 4 billion (EUR 65 million), of which MKD 3.5 billion - non-life payments and MKD 0.5 billion - life indemnities.

GWP from non-life insurance decreased by 4.88% y-o-y to MKD 8.3 billion (about 82.71% of total GWP), while the life insurance segment reported premiums of MKD 1.7 billion, 4.93% less y-o-y, official figures show.

In terms of GWP, the largest life insurer in the country was the local unit of CROATIA osiguranje (with GWP of MKD 655 million, ~ 37.6% market share), while the local subsidiary of Slovenian TRIGLAV led the non-life ranking (MKD 1.2 billion, 14.8%).

Access www.xprimm.com and download the FY2020 Macedonian insurance market. statistics.