engleski

How Well Insurance Companies in Macedonia Perform?

The paper provides overview of performances of insurance sector in the Republic of Macedonia, including SWOT analysis, as well as analysis of determinants of the insurance companies’ profitability for the period from 2002 to 2011. According to the main indicators of performances, the insurance sector in Macedonia is undeveloped showing modest signs of improvements, mainly owing to foreign insurance companies’ penetration. Despite some weaknesses, this sector has enough strength for further growth and development. The analysis of profitability is performed at the insurance companies' level, with inclusion of macroeconomic factors as determinants of insurers’ performance. The findings confirm expense ratio, claims ratio, economic growth and inflation as important factors that determine Macedonian insurance companies’ profitability.

Insurance companies; performance; SWOT analysis; Republic of Macedonia

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