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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the North Macedonian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in North Macedonia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the North Macedonia non-life (P&C) market as well as trends by line of business. Axco analysts also report on North Macedonia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes North Macedonia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in North Macedonia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in North Macedonia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in North Macedonia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
In 2018 Macedonia was ranked 125 in the world for all classes of business, according to Axco Global Statistics. For non-life business it ranked 121. The market is characterised by low insurance penetration, significant foreign ownership, the lack of a domestic reinsurance market and some exposure to earthquake, all set against a background of political uncertainty.
When this report was in preparation there were 11 companies ....
This is a brief extract of information; more updated information may be available in the latest published report.
