North Macedonia

1000px-Flag_of_North_Macedonia
Flag



mkd_ocha_1000px
Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe;
- Neighbours: Greece, Albania, Kosovo, Serbia, Bulgaria.

Climate:
- warm, dry summers and autumns;
- relatively cold winters with heavy snowfall.

Natural hazards:
- high seismic risks.

Macro indicators
* 2018 estimates
Surface:25,713km2
Population*:2.1million
Pop. density*:80.9people/km2
GDP*:10.7EUR billion
GDP/capita*:5,170.0EUR

European Union:
Official candidate

Currency: Denar
Code: MKD
Since: 1993


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:17%
TOTAL NON-LIFE*:83%
Overall Property*:17%
Overall Motor*:52%


Sources:



 





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.




NORTH MACEDONIA: in August non-life insurers paid over EUR 5 million

All non-life insurance companies paid over 9,800 claims worth MKD 312.5 million (EUR 5.1 million) in August of 2023 alone. The companies paid for damages covered by insurance 22% (MKD 57.3 million) more than in August of 2022, according to the preliminary data submitted to the Insurance Supervision Agency (ISA) by all 11 non-life companies, the ISA said.