The Kosovo insurers' GWP increased by 2.74% y-o-y, to EUR 41.05 million in the first half of 2017, as shown by the Central Bank's data.
Kosovo's insurance companies posted a combined net profit of 900,000 euro ($1 million) in the first four months of 2017, flattish compared to the profit recorded a year earlier, figures from the central bank showed.
By the end of March 2017, the Kosovo insurance market totaled EUR 18.8 million - 1.5% more y-o-y, as the market figures published by the Central Bank of Kosovo - CBK indicate.
According to CBK's report, in 2016, the value of premiums written by insurance companies amounted to euro 83.5 million, which represents an annual increase of 4.4 percent.
Kosovo's insurance companies posted a combined net profit of 1.1 million euro ($1.2 million) in the first quarter of the year, compared to a net profit of 1.3 million euro in the like period of 2016, according to data from the country's central bank.
Kosovo's insurance companies posted a combined net loss of 23.9 million euro ($25.4 million), more than three times higher than their aggregate net loss of 7.7 million euro in 2015, data from the country's central bank shows.
Last year, the Kosovo insurance market totaled EUR 81.2 million, or 3.1% more y-o-y, according to the figures published by the Central Bank of the Republic of Kosovo (CBK). At the same time, the volume of paid claims by local insurers remained about at the 2015 level: EUR 39 million.
In 3Q 2016 the Kosovo insurers reported a 3% y-o-y increase in GWP to EUR 62.9 million, as the Central Bank - CBK data showed. MTPL premiums accounted for about 65% of total GWP, of which a share of 56% - third party liability policies, while the share of Border policies was close to 9%. Other types of voluntary segments accounted for ~35% of total market.
An agreement signed on September 14 will eliminate the need for drivers
of Kosovo-registered cars to purchase temporary "proba" plates when
traveling in Serbia. "After three years of the proba plates, I
told our international partners, 'It's time for reciprocity'," Edita
Tahiri, Kosovo Minister for Dialogue, said for PI.
Kosovo's insurance companies posted a combined net loss of 11.5 million euro for the first seven months of the year, compared to a net loss of 2.5 million euro in the same period last year, data from the country's central bank indicated.
The Kosovo insurers' GWP increased by 1.68% y-o-y to EUR 39.96 million in the first half of 2016, as shown by the Central Bank's data. Gross written premiums from Motor TPL insurance increased by 5.28% to EUR 22.57 million, generating about 56.48% of total GWP. The total gross claims paid were down by more than 8% to EUR 17.81 million.
Kosovo's insurance companies posted a combined net loss of 11 million euro for the first half of the year, as compared to a net loss 2.5 million euro net loss a year ago, data from the country's central bank indicated.
At the end of March 2016, the Kosovo insurance market totaled EUR 18.50 million - 2.56% more y-o-y, according to the market statistics published by the Central Bank of Kosovo - CBK. During the reported period, claims paid by insurers totaled EUR 8.20 million, down by 8.71%.
According to the first data published by the Central Bank of the Republic of Kosovo, the local insurance market ended 2015 with GWP of EUR 78.77 million, 1.64% down y-o-y. Paid claims amounted to EUR 36.97 million, 18.6 more than in 2014.
Rrahim Pacolli has been elected as head of Administrative Council of Kosovo Insurance Bureau on Tuesday.
Kosovo's Central Bank has ordered the local Raiffeisen Bank to pay a 1 Euro million penalty for cheating its clients over an insurance product.
In 3Q 2015 the Kosovo insurers reported a slight y-o-y decrease in GWP,
of 0.27%, to EUR 61.03 million, as the Central Bank data showed (Note: The figures presented by CBK include only the insurers' activity on non-life segment). Claims paid by local insurers for this period increased significantly by 17.54% y-o-y to EUR 23.07 million.
Speaking on Wednesday, the Kosovo minister in charge of the
Belgrade-Pristina dialogue explained that this agreement, reached on
June 23, "has nothing to do with those on temporary license plates and
freedom of movement."
The head of the technical delegation on issues concerning border
insurance, Rrahim Pacolli, has decided to freeze as of this midnight the
agreement for the mutual recognition of border insurance policies
between Kosovo and Serbia. Pacolli took this decision based on
article 9 of the statute of the Kosovo Insurance Bureau, stressing that
the agreement reached on June 23 in Brussels is not being implemented in
a mutual way by the Serb side.
Officials in Kosovo accused today Serbia for not respecting the EU brokered deal of last month over free circulation, which related to vehicles plates and insurance policies in both countries, and gave a one week ultimatum to Belgrade authorities to end the boycott.