North Macedonia
NORTH MACEDONIA: GRAWE received nod from regulator to acquire EUROLINK
On February 27, 2020, during Macedonian Insurance Supervision Agency (ISA) meeting, the Board of Experts decided to approve GRAWE's request to take over EUROLINK Skopje.
10 March 2020STATISTICS: NORTH MACEDONIA, FY2019: MTPL policies generated 43% of total business and more than a half of total settled payments
The preliminary market figures submitted by Macedonian ISA to XPRIMM.com, indicate that at the end of 2019 the local insurance industry totaled MKD 10.58 billion (EUR 172 million), up by 6.61% y-o-y.
20 February 2020STATISTICS: NORTH MACEDONIA, 3Q2019: MTPL provides for 44% of the market GWP, but is responsible for half of the claims expenses
Insurers of North Macedonia achieved a 7.2% y-o-y consolidated market growth after the first three quarters of 2019, to a total GWP volume of EUR 129 million. Three business lines have provided for about 80% of the GWP increase: MTPL, fire insurance and life insurance.
9 January 2020STATISTICS: NORTH MACEDONIA, 1H2019: life, MTPL and fire insurance fed the market growth
Macedonian insurers ended 1H2019 with an aggregate GWP volume of EUR 85.37 million, 6.7% up y-o-y. In relative terms, the life insurance sector showed a double-digit growth rate, but in absolute value, it was still the non-life insurance segment providing for the largest contribution to the market growth.
29 August 2019STATISTICS: Macedonian insurers posted almost a quarter billion MKD in Q1 GWP
At the end of March 2019, the Macedonian insurance market totaled about a quarter billion MKD (EUR 40 million), up by 4.6% y-o-y, according to data provided by the local Insurance Supervision Agency.
18 July 2019HALKBANK wants to further expand activity in Balkans
Turkey-based Halkbank announced the acquisition of Macedonian Nova Insurance, and now shows interest in investing in Moldova, too. Halkbank is already active in North Macedonia and Serbia, making Moldova the third country in the region Halkbank wants to develop.
23 May 2019N. Macedonia's Sava Osiguruvanje posts slight rise in 2018 cons net profit
18 April 2019STATISTICS: MACEDONIA, FY2018: Preliminary figures indicate double digit increases for insurance industry
The preliminary FY2018 statistics provided by Macedonian ISA indicate for the local insurance market a total gross written premiums (GWP) volume of EUR 161.4 million (MKD 9.9 billion), up by 10.4% y-o-y.
11 April 2019EUROLINK Macedonia awarded for its contribution to entrepreneurship development in the Central and Southeastern Europe
EUROLINK Insurance, Macedonia, was awarded for its contribution to the development of entrepreneurship in Central and Southeastern Europe at the 2018 Creators for Centuries project, the company said.
7 March 2019TRIGLAV Group wants to expand in Macedonia's pensions insurance market
Slovenia's top insurer Zavarovalnica Triglav plans to expand its activity in the Macedonian private pensions market. The Group is already present on the local insurance market, with two companies.
14 February 2019MACEDONIA: Stopanska banka AD began a bancassurance project in collaboration with two large insurance companies from Macedonia
Stopanska Banka has become one of the largest insurance distribution channels in Macedonia, by starting - in the year that marked its 75th annyversary, a partnership with two important life insurers from the local market: CROATIA Insurance and UNIQA.
14 February 2019STATISTICS: Macedonia, 3Q2018: Local insurance market expanded to EUR 120 million
Macedonian insurers nine-months 2018 aggregate GWP amounted MKD 7.4 billion (~EUR 120 million), 8.9% more y-o-y, according to the market figures provided by the Insurance Supervision Agency of Macedonia.
18 January 2019STATISTICS: MACEDONIA, 2008-2017 timeline: life insurance premiums quadrupled, reaching a 16% portfolio share
The Macedonian insurance market recorded a constant ascendant trend during the last decade, with GWP increasing between 2008 and 2017 by about 40%. Yet, as the life insurance sector gained more relevance in the recent years, its contribution to the market growth became more visible.
13 December 2018MACEDONIA's Triglav Osiguruvanje Jan-Sept net profit, revenue fall
12 November 2018STATISTICS: MACEDONIA,1H2018: improved market profitability, despite higher claims volumes
Macedonian insurers ended 1H2018 with an aggregated GWP volume of EUR 80 million, up 6.7% y-o-y. Most of the market growth came from the non-life insurance segment, namely from MTPL and fire and allied perils insurance lines.
4 October 2018STATISTICS: MACEDONIA, 1Q2018: MTPL provides for 38% of market GWP and generates half of the paid claims volume
Macedonian insurers reported GWP worth EUR 38.4 million, 5.5% up y-o-y in 1Q2018, half of the market growth being owed to the MTPL insurance class and to the life insurance segment, which provided for about 40% of the premiums volume increase.
19 July 2018Macedonia: Memorandum of Cooperation with the Turkish insurance market's authority signed in Skopje
On July 2, a Memorandum of Cooperation between the Macedonian Insurance
Supervision Agency and the Regulatory Authority for Insurance
Supervision of Turkey was signed in Skopje, by Mr.Klime POPOSKI,
President of the Council of Experts (Macedonia) and Ahmet GENK, Vice
President (Turkey).
5 July 2018Insurer Osiguruvanje Makedonija triples Q1 non-cons net profit
Insurer Osiguruvanje Makedonija, a subsidiary of the Vienna Insurance Group (VIG), said on Wednesday that its non-consolidated net profit rose to 32.6 million denars (530,600 euro) in the first quarter of the year from 11.2 million denars in the prior-year period.
2 May 2018STATISTICS: MACEDONIA, FY2017: More than 57% of concluded contracts are related to motor classes
The Macedonian insurance market totalled MKD 8.99 billion (EUR 146.24 million) at the end of 2017, up by 3.10% y-o-y, according to data published by the local Insurance Supervision Agency.
22 March 2018Liberalizing MTPL Insurance Market in Macedonia FIRST Initiative Funded Project World Bank
20 March 2018
