Policyholders reimbursed for 31.5 million EUR i.e. 20% more than last year.

Non-life insurance companies have paid 5.2 million EUR more for policyholders’ claims in the first half of this year as in comparison to the same period last year. There has been a growth in payments in three major classes: Property Insurance, Motor Vehicle Insurance and other classes of non-life insurance.

Citizens, companies and institutions have been reimbursed for 1.94 billion MKD (31.5 million EUR) for losses covered by non-life insurance policies during the first six months of this year, according to the official data from the Insurance Supervision Agency (ISA).

Compared to the same period last year, the amount of gross claims paid (GCP) that insurers paid to policyholders is higher by 319.5 million MKD (5.2 million EUR, respectively) or 20%.

The increase of the total mobility as well as the activities in all social spheres have a significant impact on the growth of the paid claims. They intensified after the lifting of measures and restrictions that in the same period last year were in force to prevent the global health pandemic caused by the COVID-19.

There has been a significant increase in the claims paid in Property Insurance. During the first six months of this year, 11 non-life insurance companies have paid 292 million MKD (4.75 million EUR) to their policyholders for insured property damages, which is 18.5% more than the same period last year.

In Auto Insurance (the most common insurance compulsory by law) the amount of claims paid is 1.04 billion MKD (17 million EUR). In comparison to the same period last year, the amount of claims paid increased by 21% or 182 million MKD (3 million EUR).

In the Voluntary Auto Insurance, i.e. Casco Insurance, the companies have paid claims in the amount of 224 million MKD (3.6 million EUR) for this period.

For the other classes of insurance, Insurance companies have paid 374 million MKD (6.1 million EUR) to their policyholders in the first half of this year. That is for 104.5 million MKD (1.7 million EUR) or 38% more compared to the same period last year.

Out of 11 non-life insurance companies in total, 10 have increased reimbursed amounts. The largest increase (in %) in this period is present in “Croatia Insurance – Non-Life” with 64%, “Halk Insurance” with 61%, “Uniqa” with 42%, “Euroins” and ADOR “Macedonia” with 22%, and “Sava Insurance” with 17%. “Wiener WIG” follows with 5% increase followed by ”Triglav Insurance”, “Eurolink Insurance” and “Grawe Non-Life” with a 4% increase in gross claims paid.

The largest share in the total amount of claims paid for the first half of the year belongs to: “Triglav Insurance” with 243 million MKD (3.95 million EUR) “Halk Insurance” and “Euroins” which have reimbursed 222 million MKD (3.6 million EUR). Then come “Sava Insurance” and “Uniqa” with 200 million MKD (3.25 million EUR), “Eurolink Insurance” with 191 million MKD (3.1 million EUR), ADOR “Macedonia” and “Wiener VIG” with 164 million MKD (2.67 million EUR). “Croatia Insurance – Life” has paid 138 million MKD (2.2 million EUR), “Osiguritelna Polisa” 127 million MKD (2.1 million EUR) and “Grawe Non-life” 65 million MKD (1.06 million EUR).

More detailed information on the following link https://aso.mk/preliminarni-podatoczi-bruto-polisirana-premija-bruto-isplateni-shteti/

The Insurance Supervision Agency (ISA) is an independent regulatory body that regulates the insurance market, supervises the operation of insurance companies, takes care of the protection of the rights of the policyholders and contributes to the financial education of the population.