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

During January – July 2017 the insurance market experienced an increase by 11.43% compared to January – July 2016. Gross insurance premiums amount to ALL 8,873,197thousand, increasing by ALL 910,102 thousand.

The number of insurance policies reached 672,162 which indicate an increase 14.73% compared to January – July 2016.

Gross insurance premiums in Non-Life insurance business reached the value of ALL 8,164,731 thousand, which indicate an increase by 10.12% compared with January – July 2016.

The number of Non-Life insurance policies reached 572,796 which are 8.58% more than January – July 2016.

Gross insurance premiums in Life insurance business reached the value of ALL 675,083 thousand, which indicate a increase 29.73% compared to January – July 2016.

The number of Life insurance policies reached 99,344 which indicate an increase by 70.35% compared to January – July 2016.

During January – July 2017, the paid claims are in the amount of 3,084,500 thousand, or 30.24% more than January – July 2016.

In January – July 2017, there is a increase of 10,368 in the number of paid claims, which reached the number of 28,318 paid claims. The Non-Life insurers paid 27,302 claims and Life insurers paid 1,016 claims.

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