STATISTICS: KOSOVO: +3% in FY2016 GWP, supported by the double-digit growth rate in voluntary classes

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.

The GWP portfolio consisted of about 56% Mandatory TPL policies, 8.5% - Border policies, the remaining volume being represented by other voluntary non-life classes (~35.5%). It is worth to mention that the figures presented by CBK include only the insurers' activity on the non-life segment.

The positive dynamic of the local insurance market was supported by the double-digit increases reported by the voluntary non-life classes (+13% to EUR 28.8 million) and by the 5.5% increase in Third Party Liability subclass (to EUR 45.5 million).

On the other hand, Border policies compresed by a third to EUR 6.9 million, as the Central Bank data showed.

Access www.xprimm.com and download the FY2016 Kosovo insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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