STATISTICS: KOSOVO 1Q2018: Insurers' net profit more than halved

The insurance market of Kosovo totaled EUR 21.4 million at the end of March 2018, 10.5% more y-o-y, data provided by the Central Bank (CBK) showed.

Non-life GWP increased by 10.3% y-o-y to EUR 20.7 million, of which EUR 10.6 million related to Domestic MTPL, EUR 1.0 million - Border policies and EUR 9.1 million - other voluntary classes, according to "The Insurance Companies Activity" published by CBK. At the same time, life insurance premium decreased by about 16% y-o-y to EUR 0.7 million, according to the "Financial System - Monthly Information" released on CBK website.

The figures revealed that the quarterly aggregate insurers' net profit decreased to EUR 0.4 million, from EUR 0.9 million at the end of March 2017. On the other hand, the assets held by Kosovar insurers increased to EUR 175.5 million (of which EUR 157.7 million accounted for by the non-life insurers), from EUR 165.0 million in Q1 2017.

In the analyzed period, the total number of non-life policies sold by local insurers was 203.5 thousand (vs. 181.9 thousand in Q1 2017), of which about 92.4 thousand were Mandatory TPL contracts, 47.7 thousand - border policies, and 63.3 thousand - other voluntary non-life insurances.

15 insurers were active on the local market, of which 12 - non-life and 3 specialized life insurers. According to CBK, currently eight companies are foreign owned and are holding about 53.5% of total assets.

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

Share |

Related articles

STATISTICS: KOSOVO insurers' Jan-Sept GWP rises 3% y-o-y

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.

2016-11-03

STATISTICS: KOSOVO, 1H2016: Insurers posted GWP of EUR 40 million in 1H2016

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.

2016-08-18

ON THE MOVE

MetLife named its EMEA head as CEO of Japan unit

MetLife announced that Eric CLURFAIN, currently Executive Vice President and Head of EMEA, has been named Chairman, President and CEO of MetLife Japan - the company's second largest market globally and its largest retail life insurance business, effective Feb. 1, 2019, following approvals.

06.12.2018

American International Group appoints new CFO

American International Group announced that it has appointed Mark LYONS to the role of Executive Vice President & Chief Financial Officer (CFO). He succeeds Sid SANKARAN, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

06.12.2018

Wolfgang STOCKMEYER appointed as VIG's BTA Baltic new Board Chairman

Wolfgang STOCKMEYER (49) has been appointed, on 30 November 2018, Chairman of the VIG's subsidiary BTA Baltic Management Board, as part of a series of changes in the composition of its Management Board operated by the main player of Austrian Group in the Baltic region.

05.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all