Analysis - Life Segment Offers Highest Growth Prospects for Insurers in Macedonia, Serbia

SKOPJE (Macedonia)/Belgrade (Serbia), September 28 (SeeNews) - Macedonia's underdeveloped insurance market has a vast growth potential, especially its life insurance segment, which also is the case in neighboring Serbia, industry officials said. "The insurance market in Macedonia is not sufficiently developed, as only a small package of standard insurance products is being sold, with domination of mandatory third-party car insurance that accounts for some 50% of the whole portfolio," Skopje-based Sava Tabak Osiguruvanje's Insurance and Reinsurance Director, Ilo Ristovski told SeeNews.