In 2013, the Kosovo's' insurance market was characterized by a 5% decrease in GWP, a 26% increase in claims paid by the insurers and a 21% increase in the total number of policies sold by the companies, according to the full year preliminary results published by the local market authority - Central Bank of Kosovo (CBK).

By the end of 2013, the number policies sold by the Kosovo's insurers reached 918 thousand, which represents an annual growth in absolute value by 160 thousand, compared to the number of policies sold a year ago.

On the other hand, the value of premiums recorded a 5% decrease y-o-y to EUR 77.4 million, mainly due the 11% drop reported by the border policies and the 10% deficiency of the non-TPL insurance segment.

As in previous reporting periods, the activity of local insurers was comprised of TPL policies which accounted for 56.8% of total market (EUR 43.9 million), down 0.7% y-o-y. Regarding claims, TPL payments dominate with a share of 55.8%, or EUR 21.4 million of EUR 38.5 million.

According CBK, 13 insurers activates on the local market, 10 of them provided non-life insurances, while 3 others provided life insurances as well. At the same time, 10 companies are of foreign ownership and 3 other are of domestic ownership.

Access www.xprimm.com and download the FY2013 Kosovo insurance market statistics.