Insurance Market Developments in Albania for the period January – June 2017

During January – June 2017 the insurance market experienced an increase by 12.03% compared to January – June 2016. Gross insurance premiums amount to ALL 7,415,464 thousand, increasing by ALL 796,550 thousand.

The number of insurance policies reached 551,848 which indicate an increase 14.69% compared to January – June 2016.

Gross insurance premiums in Non-Life insurance business reached the value of ALL 6,821,537 thousand, which indicate an increase by 11.20% compared with January – June 2016.

The number of Non-Life insurance policies reached 463,229 which are 7.46% more than January – June 2016.

Gross insurance premiums in Life insurance business reached the value of ALL 561,111 thousand, which indicate a increase 23.07% compared to January – June 2016.

The number of Life insurance policies reached 88,606 which indicate an increase by 76.85% compared to January – June 2016.

During January – June 2017, the paid claims are in the amount of 2,705,587 thousand, or 44.02% more than January – June 2016.

In January – June 2017, there is a increase of 9,251 in the number of paid claims, which reached the number of 25,019 paid claims. The Non-Life insurers paid 24,110 claims and Life insurers paid 909 claims.

Source : Albanian Financial Supervisory Authority

(Source– AFSA)

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