The success of the insurance sector in the last 5 years
The successful operating of the insurance companies can best be seen if we look at the gross policy premium that they realize in a year.
Starting from 2018, we notice some declines in the total written policy premium, but still in 2022 we register a significantly higher amount.
Starting with MKD 10.2 billion in 2018, a slight decrease of 1.8% follows in 2019, when the 15 insurance companies on the Macedonian market realized a little more than MKD 10 billion in gross written premium. The increase starts already from 2020, by 0.6% in 2020, 14.9% in 2021 and 9.9% in 2022.
In 2022, MKD 12.8 billion in gross written premium were realized, which is 24.8% more than in 2018.
Regarding the profit before taxation, in 2018 the insurance companies made a total of MKD 595.9 million, and in 2022 it increased by 39.9% to MKD 833.8 million. In 2019 and 2021, there is a decline in total profit, but it is still noticeably increased for the period of 5 years.
The number of employees in 2018 was 1923 people. In 2019, it decreased to 1793, and then it increases again, but in 2022, the number of 1923 has not yet been reached and the companies employed a total of 1905 people.
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