Kosovo Territory

Location:
Southeast Europe, between Serbia and Macedonia

Climate:
influenced by continental air masses resulting in relatively cold winters with heavy snowfall and hot, dry summers and autumns; Mediterranean and alpine influences create regional variation; maximum rainfall between October and December

Currency: EURO


Sources:

Insurance Association of Kosovo
Central Bank of the Republic Kosovo


Insurance statistics

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Border agreement adds to KOSOVO coffers

As a result of the EU-mediated Integrated Border Management agreement reached with Serbia, Kosovo has increased its customs revenues, which should begin to make up for losses that been taking place since 2003.

KOSOVAR insurers reported profit of EUR 2.5 million at the end of September

Total gross written premiums of the Kosovo insurance industry in the first nine months of 2012 amounted to EUR 63.34 billion, representing an increase of 7.86% over the corresponding period in 2011, while the value of paid claims totaled EUR 21.6 million, or 9.5% more y-o-y, as the Central Bank of Kosovo (CBK) informed. These values were generated by 13 insurers who sold over 578 thousand policies in the analyzed period.

KOSOVO TERRITORY: Central Bank has penalized all the insurance companies

No insurance company in Kosovo operates according to the laws in place. Most of them do not reimburse their clients, the quality of their services is not quality oriented, they have staff problems, they have problems with their local operators and plenty of cases of corruption. The irregularities identified by the inspectorate, made the Central Bank to penalize all the companies.

KOSOVO insurers 1H total premiums rise 4%

The total premiums collected by the insurance companies operating in Kosovo territory rose 4% in 1H2012, to EUR 39.58 million, Central Bank data showed. This value was generated by the over 304 thousand policies sold in the analyzed period, 60 thousand more compared to January-June 2011. At the same time, the value of paid claims of insurers amounted to EUR 13.92 million.

KOSOVO, 1Q2012: GWP rose 2.9%

In January-March 2012, the gross written premiums of insurance companies in Kosovo increased by 2.9%, reaching EUR 18 million, compared with total underwritings in the correspondent period of 2011. This value was generated by the over 130 thousand policies sold in the analyzed period (about 104 thousand in 1Q2011).