Total gross written premiums of the Kosovo insurance industry in the first nine months of 2012 amounted to EUR 63.34 billion, representing an increase of 7.86% over the corresponding period in 2011, while the value of paid claims totaled EUR 21.6 million, or 9.5% more y-o-y, as the Central Bank of Kosovo (CBK) informed. These values were generated by 13 insurers who sold over 578 thousand policies in the analyzed period.

"Kosovo's insurance sector is developing well, with ten non-life insurance companies and three life insurance companies. Most are partners of well-known EU insurance groups. There are still significant opportunities, particularly for life insurance," declared for The European Times, Gani GERGURI, Governor, CBK.

According to the Central Bank's statistics, insurers' technical reserves amounted to EUR 59.7 million, while the aggregated profit of Kosovar insurers amounted to EUR 2.5 million or EUR 0.2 million less than the year before.
 
As CBK reported, MTPL policies gained almost 54% of the total market, equivalent to EUR 34.1 million, or, translated into number of policies, 212 thousand.

The second most important class of insurance was related to border policies. In this case, the Kosovar insurers contributed to the market growth with EUR 11.7 million, representing an increase of over 52% y-o-y. In terms of number of policies, the local insurers sold 272 thousand border policies, 95 thousand more than in January-September 2011.

Access www.xprimm.com and download the 3Q2012 Kosovo insurance market statistics.

Market portfolio:

• Gross written premiums
• Paid claims
• Growth rates
• Number of policies