The Macedonian insurance market totalled MKD 8.99 billion (EUR 146.24 million) at the end of 2017, up by 3.10% y-o-y, according to data published by the local Insurance Supervision Agency.

Slovenian SAVA Re announced it got the approval from the Macedonian Agency for Supervision of Fully Funded Pension Insurance (MAPAS) and the required approvals from other competition authorities for the acquisition of NLB Nov penziski fond AD Skopje.

Macedonian insurers reported 3Q2017 aggregate GWP of MKD 6.8 billion (EUR 110.6 million), 2.7% more y-o-y, according to the market figures provided by the Insurance Supervision Agency of Macedonia.

Macedonian insurers' GWP increased by 3.13% y-o-y, to MKD 4.62 billion (EUR 74.95 million) in 1H2017, according to the market data provided by the country's insurance supervisory agency.

At the end of March 2017, the Macedonian insurance market totaled about MKD 2.24 billion (EUR 36.37 million), up by 4.68% y-o-y, according to data provided by the local Insurance Supervision Agency.

Insurance market of Republic of Macedonia grew by about 5% in 2016 to MKD 8.7 billion (~ EUR 142 million) with a concurrent increase of 7.74% in the number of insurance contracts, according to data provided by the local Insurance Supervision Agency.

The Macedonian insurance market saw a 4% y-o-y increase in the GWP volume, to EUR 72.7 million. In absolute terms, the life and non-life insurance segments' contribution to the GWP growth was fairly equal. Still, in relation to the size of the two business lines, the growth in life insurance was the most impressive.

Just one month after the severe flooding which hit the country on August 6th, the citizens of the Macedonian capital city, Skopje, have been confronted once again with the natural forces' rage as a 5.3 magnitude earthquake struck on Sunday, fortunately without devastating effects.

Macedonia's Ministry of Interior said that at least 21 people have died in flooding that hit the capital, Skopje and its surroundings last week. At least 6 are still missing and it is feared that the death toll could rise further. Police in Macedonia said that over 50 people have been injured in the floods.

Macedonian insurers' gross written premiums decreased by 0.17% on the year to MKD 2.14 billion (EUR 34.75 million) in the first three months of the year, according to the country's insurance supervisory agency.

Insurance Europe's 10th International Conference, taking place today, 24 May, in Madrid, Spain, focuses on "Overcoming underinsurance" and gathers insurance professionals and representatives of authorities from all over Europe.

PensionsEurope believes that private pension saving should be encouraged to compensate for potential lower state pension benefits. In particular, we support a regulatory environment encouraging workplace pension membership, Matti LEPPALA, Secretary General CEO, PensionsEurope & Chair, OPSG of EIOPA stated on 16 May, at FIAR.

Are the insurers and the brokers ready for the GDPR challenge? What effects will GDPR have on the Romanian insurance industry and on consumers? What are the main issues in implementing GDPR? These were just a few of the topics debated during the GDPR Workshop taking place at FIAR 2018.

The second part of the REINSURING NATCAT RISKS Conference taking place at FIAR 2018 focused on the best solutions for closing the NatCat insurance gap. Christian KREUTZER, Head Market Underwriting CEE, Swiss Re Europe, and Evgeny POTOKOV, Senior Underwriter South Eastern Europe, SCOR Global P&C Deutschland were among the speakers that joined the debates.

NatCat exposure versus coverage, the largest natural catastrophe risks affecting Europe, as well as the best solutions for closing the insurance gap were just a few of the topics analyzed during the REINSURING NATCAT RISKS Conference taking place at FIAR 2018.

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

The 21st edition of the International Insurance-Reinsurance Forum was officially opened on Monday night, with the XPRIMM Reinsurance Awards.

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.