The insurers owned by Slovene insurance group SAVA and Austrian UNIQA are, in terms of FY2023 GWP, the largest insurance companies that are active on Kosovo insurance market, according to the market shares presented by Slovene re/insurer SAVA Re in its 2023 Annual Report.

Thus, according to the mentioned source, the insurers owned by Slovene insurance group SAVA - Illyria and Illyria Life accounted for 14.8% market share (the equivalent of EUR 21.7 million), followed by the local subsidiaries of UNIQA - Sigal and Sigal Kosova Life with 14.6% (EUR 21.4 million). The top 5 is completed by Scardian (12.2%), Eurosig (11.7%) and Elsig – 10.8%.

The GWP of Kosovo insurers increased by over 9% y-o-y to EUR 146.50 million during January-December 2023 while total gross claims paid increased by 11.5% y-o-y to EUR 71.70 million, according to the official monthly figures published on the website of the Central Bank of Kosovo showed. In 2023, the non-life insurance business accounted for 95.5% of total insurance premiums and life insurance for 4.5%. In 2023, gross premiums written in the Kosovo insurance market grew by over 9% (non-life premiums by 9.5% and life premiums by ~5%).


During the year, the aggregate net profit of local insurers more than tripled amounting to EUR 10.7 million at the end of December 2023, up by EUR 7.2 million from EUR 3.5 million a year earlier, according to data published by the Central Bank.



Access xprimm.com and download the latest Kosovo insurance market statistics.