STATISTICS: North Macedonian insurers posted double digit increases in YE2023 business

26 February 2024 — Andrei VICTOR
STATISTICS: North Macedonian insurers posted double digit increases in YE2023 business

North Macedonia's insurance companies reported aggregate FY2023 business worth MKD 14.3 billion (~EUR 233 million), up by 12.2% 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 13.9% to MKD 5.8 billion (~EUR 95 million), of which MKD 5.0 billion - non-life payments and MKD 0.8 billion - life indemnities.

Non-life GWP increased by 12.8% y-o-y to MKD 11.8 billion, while premiums in the life insurance segment totaled MKD 2.5 billion, up by 9.3% y-o-y.

The largest non-life insurer in the country was the local subsidiary of Slovenian Triglav Group - Triglav Osiguruvanje (12.4% market share), while Croatia Osiguruvanje part of Croatia osiguranje Group - held the largest market share on life segment – 29.4%.

Access www.xprimm.com and download the FY2023 Macedonian insurance market statistics.
 

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