According to ASO, July was a record in terms of non-life sales, mainly driven by MTPL significant growth as a result of more than 85,000 vehicles being registered in just one month.
Non-life GWP in July reached MKD 1.29 billion (EUR 21 million), which is a record, the highest monthly premium volume in the first seven months of the year, according to the official monthly data submitted to the ASO by all 11 non-life insurance companies.
So far, according to official data, the months with the highest GWP were January and June with MKD 1.22 billion (EUR 19.8 million) each. Insurance demand in July is 13% higher than non-life sales in January and June.
In voluntary insurance the most popular class is property insurance with over 14,000 contracts and MKD 184 million (EUR 3 million). In second and third place according to the July sales were Motor Hull with MKD 126.3 million (EUR 2.05 million) and health insurance with MKD 105.5 million (EUR 1.7 million).
Travel insurance reached MKD 44.8 million (EUR 728,000), which is 16% more compared to the previous month of June and 6% more y-o-y.
The largest insurance class of MTPL has the highest growth in sales. In July, companies collected MKD 693.4 million (EUR 11.3 million) in this segment, which is more than MKD 60 million (EUR 1 million) more y-o-y. Green Card sales in July exceeded EUR 3 million (+8% y-o-y), the agency noted.
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