Macedonian insurers reported aggregate nine-months 2024 aggregate GWP worth MKD 12.18 billion (~EUR 198.17 million), 12.6% more y-o-y, according to the preliminary market figures provided by the Insurance Supervision Agency of North Macedonia.
Non-life GWP accounted for about 83.14% of the total GWP (MKD 10.13 billion, or EUR 164.75 million, up by 11.09% y-o-y) - of which MTPL (36.7% of total), property (17.17%), MoD (8.3%) and GTPL (2.47%), the remaining share of 16.86% being represented by the life insurance segment: GWP of MKD 2.05 billion (EUR 33.4 million), up by 11.5% y-o-y.
In terms of payments, the value of life indemnities increased by 17.2% y-o-y to MKD 707.3 million (EUR 11.5 million), while non-life claims totaled at the end of September 2024 about MKD 3.61 billion (EUR 58.8 million), up by 2.6% y-o-y.
At the end of September 2024, in terms of GWP, the largest non-life insurer in the country was MAKEDONIJA Insurance s.c. Skopje - Vienna Insurance Group (18.3% market share), while CROATIA (22.7%) led the life business segment.
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