STATISTICS: North Macedonia insurers 3Q2023 business expanded to EUR 176 million

6 December 2023 — Andrei VICTOR
STATISTICS: North Macedonia insurers 3Q2023 business expanded to EUR 176 million

Macedonian insurers reported aggregate nine-months 2023 aggregate GWP worth MKD 10.8 billion (~EUR 176 million), 12.8% more y-o-y, according to the preliminary market figures provided by the Insurance Supervision Agency of North Macedonia.

Non-life GWP accounted for about 84.3% of the total GWP (MKD 9.1 billion, or EUR 148.3 million, up by 13.5% y-o-y) - of which MTPL (39.2% of total), property (17.3%), MoD (8.1%) and GTPL (2.4%), the remaining share of 15.7% being represented by the life insurance segment: GWP of MKD 1.7 billion (EUR 27.7 million), up by 9.3% y-o-y.

In terms of payments, the value of life indemnities increased by 24.5% y-o-y to MKD 603.5 million (EUR 9.8 million), while non-life claims totaled at the end of September 2023 about MKD 3.5 billion (EUR 57.4 million), up by 183% y-o-y.

At the end of September 2023, in terms of GWP, the largest non-life insurer in the country was TRIGLAV (12.6% market share), while CROATIA (29.5%) led the life business segment.

Access www.xprimm.com and download the 3Q2023 North Macedonia insurance market statistics.
 

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