Annual Report 2010 03 August 2011 - Banka Qendrore e ...
Annual Report 2010 03 August 2011 - Banka Qendrore e ...
Annual Report 2010 03 August 2011 - Banka Qendrore e ...
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<strong>Annual</strong> <strong>Report</strong> <strong>2010</strong><br />
CBK<br />
Table 18. Gross written premiums<br />
Source: CBK <strong>2011</strong><br />
Description 2009 <strong>2010</strong> Difference in %<br />
Motor liability 35,461,834 40,221,123 11.83%<br />
Border insurance 12,983,207 10,491,743 -23.75%<br />
Voluntary insurance 17,224,304 20,244,145 14.92%<br />
Returns -1,365,724 -1,878,507 27.30%<br />
Gross w ritten premiums 64,3<strong>03</strong>,621 69,783,389 7.85%<br />
A significant growth marked the voluntary insurance which reached at 14.9 percent<br />
compared to 2009. Orientation towards voluntary insurance indicates an encouraging<br />
developing ratio in Kosovo insurance system.<br />
Border insurance premiums during <strong>2010</strong> recorded a decline of 23.75 percent compared to<br />
2009 and this is a result of decrease of border insurance fees by CBK. Within the two last<br />
years (2009 and <strong>2010</strong>), these fees decreased by 50 percent.<br />
Insurance system equities in Kosovo during <strong>2010</strong> recoded a growth of 9.20% compared to<br />
2009. The share of insurance system equities in total equities of financial sector is around<br />
7.10 percent. Within the general equities, a considerable growth was recorded by fixed<br />
equities (27.22 percent), because of investment in immovable properties by the insurance<br />
companies.<br />
Table 19. Insurance system equities in Kosovo<br />
Source: CBK <strong>2011</strong><br />
Equities 2009 <strong>2010</strong> Difference in % Share in <strong>2010</strong> Share in 2009<br />
Cash 59,267,448 61,108,295 3.01% 62.89% 67.18%<br />
Liquid assets 17,882,681 20,290,650 11.87% 20.88% 20.27%<br />
Fixed assets 11,011,670 15,130,416 27.22% 15.57% 12.48%<br />
Intangible equities 62,804 639,573 90.18% 0.66% 0.07%<br />
Total equities 88,224,6<strong>03</strong> 97,168,934 9.20% 100.00% 100.00%<br />
b) Solvency ratio (payment capacity)<br />
Insurance system during <strong>2010</strong> resulted in sustainable financial performance. The solvency<br />
ratio during <strong>2010</strong> by euro 21,130,756 above 24 the minimal margin of euro 6,600,000<br />
required under CBK Rule VIII (section 9). Compared to 2009, the solvency ratio in <strong>2010</strong><br />
was euro14,751,505, which indicates a growing tendency of solvency ratio.<br />
68 |<br />
24 Minimal solvency margin is-20% of 3 mil euro - collateral = 600,000 euro
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