The Insurance Industry in Macedonia, Key Trends and Opportunities to 2018

1

Main Title
Market Research Report 
The Insurance Industry in Macedonia, Key Trends
and Opportunities to 2018
reportscue
2

Synopsis The report provides in-depth industry
analysis, information and insights into the
insurance industry in Macedonia, including
The Macedonian insurance industrys growth
prospects by insurance segment and category 
The competitive landscape in the Macedonian
insurance industry The current trends and
drivers in the Macedonian insurance industry
Challenges facing the Macedonian insurance
industry The detailed regulatory framework of
the Macedonian insurance industry
3

Report OverviewMacedonia is an
upper-middle-income country, and is one of
south-east Europes emerging economies. The
countrys GDP at constant prices (base 2005)
stood at MKD348.8 billion (US7.5 billion) in
2013, increasing from MKD304.3 billion (US6.9
billion) in 2009 at a review-period (20092013)
compound annual growth rate (CAGR) of 2.1. The
Euro zone debt crisis, and falling overall
exports and foreign direct investment (FDI) all
impacted the countrys overall economy
development during 20092012, before it recovered
in 2013 due to increase in construction activity
and exports. The Macedonian insurance industry
is small and underdeveloped, and therefore offers
opportunities in terms of growth and development.
It grew at a review-period CAGR of 3.9. The
industrys growth was supported by the life
segment, which grew at a review-period CAGR of
25.6, followed by the non-life segment with
3.0. Growth in the life segment was partly due
to expanding domestic operations in 2013,
particularly of life insurers Croatia Life and
Grawe.
4

Scope This report provides a comprehensive
analysis of the insurance industry in
Macedonia It provides historical values for
the Macedonian insurance industry for the
reports 20092013 review period, and projected
figures for the 20132018 forecast period. It
offers a detailed analysis of the key segments
and categories in the Macedonian insurance
industry, along with forecasts until 2018. It
covers an exhaustive list of parameters,
including written premium, incurred loss, loss
ratio, commissions and expenses, combined ratio,
total assets, total investment income and
retentions. It profiles the top insurance
companies in Macedonia, and outlines the key
regulations affecting them.
5

Key Highlights The Macedonian insurance
industry is small and underdeveloped, and
therefore offers opportunities in terms of growth
and development. The industrys growth was
supported by the life segment, which grew at a
review-period CAGR of 25.6, followed by the
non-life segment with 3.0. Non-life insurance
was the largest segment in terms of gross written
premium, and dominated the Macedonian insurance
industry with 80.2 share in 2013. The
Macedonian life segment is highly concentrated,
and was dominated by the top two insurers in
2013, which together accounted for 86.4 of the
life segments gross written premium. A high
combined ratio is a key concern for Macedonian
insurers. The combined ratio was more than 100
during the review period in all three segments
life, non-life and personal accident and health.
For life insurance it was 117.5 in 2013, while
for non-life it was 103.6, and for personal
accident and health it was 102.7. 
6

Table of Contents 1 Executive Summary 2
Introduction 3 Macedonian Insurance Industry
Overview 4  Industry Segmentation 5 Competitive
Landscape 6  Macroeconomic Indicators 7
Appendix
7

Reason To Buy Make strategic business
decisions using in-depth historic and forecast
industry data related to the Macedonian insurance
industry and each segment within it.
Understand the demand-side dynamics, key trends
and growth opportunities in the Macedonian
insurance industry. Assess the competitive
dynamics in the Macedonian insurance industry.
Identify the growth opportunities and market
dynamics in key segments. Gain insights into
key regulations governing the Macedonian
insurance industry, and their impact on companies
and the industry's future. To Get Details
http//www.reportscue.com/the-insurance-industry-i
n-macedonia-key-trends-and-opportunities-to-2018-m
arket