Macedonia

Location:
Southeastern Europe, north of Greece

Climate:
warm, dry summers and autumns; relatively cold winters with heavy snowfall

Natural hazards:
high seismic risks



Currency: Denar (MKD)

1 EUR = 61.4812 Denars, MKD (December 31st, 2016)
1 EUR = 61.5947 Denars, MKD (December 31st, 2015)
1 EUR = 61.4814 Denars, MKD (December 31st, 2014)
1 EUR = 61.5113 Denars, MKD (December 31st, 2013)
1 EUR = 61.5000 Denars, MKD (December 31st, 2012)
1 EUR = 61.5050 Denars, MKD (December 31st, 2011)
1 EUR = 61.5050 Denars, MKD (December 31st, 2010)

Sources:
Insurance Supervision Agency
Ministry of Finance of the Republic of Macedonia
National Bank of the Republic of Macedonia
Insurance Companies Association

Insurance statistics

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FY2014Market Portfolioxlsx
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3Q2014
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1H2014Insurance market overview pdf
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FY2013Insurance market overview pdf
FY2013Market Portfolioxlsx
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3Q2013Market Portfolioxlsx
3Q2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1H2013Market Portfolioxlsx
1H2013Insurance Companies Rankingsxlsx
1Q2013Insurance Companies Rankingsxlsx
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FY2012Insurance market overview pdf
FY2012Market Portfolioxlsx
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3Q2012Market Portfolioxlsx
3Q2012Insurance Companies Rankingsxlsx
1H2012Insurance Companies Rankingsxlsx
1H2012Market Portfolioxlsx
1H2012Insurance market overview pdf
1Q2012Insurance Companies Rankingsxlsx
1Q2012Market Portfolioxlsx
FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
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3Q2011Market Portfolioxlsx
3Q2011Insurance Companies Rankingsxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2009
Macedonian insurance market overviewpdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Macedonian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Macedonian insurance market overviewpdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankings (total & main lines)xls


1H2017 Insurance Companies Rankings

1H2017 Market portfolio

See all statistics

MACEDONIA 1H2013: 6.2% y-o-y growth in GWP and strong governmental support for agricultural insurance

With GWP amounting to EUR 58.8 million by the end of 1H2013, the Macedonian insurance market continued to follow the upswing trend, showing a 6.2% growth y-o-y. "The insurance sector is in a dynamic phase of development despite the financial crisis and its consequences are felt. Recent statistics show that over the last two years and in the first half of 2013 we have recorded perhaps the most dynamic development in the insurance sector in the countries of Central and Southeast Europe," Klime POPOSKI, President of the Council of Experts, Macedonian ISA, told XPRIMM.

MACEDONIA: VIG completes integration of former QBE Macedonia

The official renaming of the new Vienna Insurance Group (VIG) company in Macedonia to Akcionersko Drustvo za Osiguruvanje i Reosiguruvanje Makedonija Skopje - Vienna Insurance Group (short name: Makedonija Osiguruvanje) marked the completion of its successful integration into the Group.

FYROM 1Q2013: Life insurance drives the market growth

Gross premium written by the Macedonian insurers in 1Q2013 amounted to MKD 1.76 billion (EUR 28.5 million), 3.1% up y-o-y, according to data published by the insurance supervising authority. Once again, in line with trend witnessed by the end of 2012, the life insurance segment was the growth driver as GWP for this line of business went up by 19%. Yet, life insurance continues to represent a still very small share of the market, of only 7.5%.

FYROM, FY 2012: Life and property, the 2012 stars of the insurance market

An almost 3% growth in GWP, to EUR 113.95 million, driven by the positive development of the property insurance and life insurance lines - these are the main 2012 coordinates of one of the smallest CEE markets, FYROM. According to data provided by the supervising authority, the main growth factors were: introduction of new innovative products, enlargement of the risk coverage, development of alternative distribution channels and broader insurance awareness of the potential policy holders.

QBE Makedonija deal raises VIG market share to over 20%

Austria's Vienna Insurance Group (VIG) said on Tuesday it has completed the acquisition of a majority stake in QBE Makedonija, raising its share in the Southeast European country to a marketing-leading 20% plus.

MACEDONIA: VIG acquired 92.9% of QBE Makedonija

Austria's Vienna Insurance Group (VIG) acquired 92.9% of Macedonian insurer QBE Makedonija for some 1.4 billion denars (EUR 21.7 million), the Macedonian financial regulator said on Friday.

MACEDONIA, 3Q2012: The figures continued to show the market potential

In January-September 2012, Macedonian insurers wrote MKD 5.3 billion in premiums (EUR 86.2 million), which represented an increase of 2.6%, as the figures published by the Insurance Supervision Agency of Macedonia showed. Regarding the market dynamics, the Macedonian insurance market reported a continual growth on both segments: non-life insurance premiums increased by 1.4%, while life insurance premiums increased by 20.6%.