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

Main features

 

  • During January – August 2017 the insurance market experienced an increase by 11.98% compared to January – August 2016. Gross insurance premiums amount to ALL 10,501,771 thousand, increasing by ALL 1,123,199 thousand.
  • The number of insurance policies reached 821,134 which indicate an increase 15.44% compared to January – August 2016.
  • Gross insurance premiums in Non-Life insurance business reached the value of ALL 9,709,092 thousand, which indicate an increase by 10.94% compared with January – August 2016.
  • The number of Non-Life insurance policies reached 711,478 which are 10.53% more than January – August 2016.
  • Gross insurance premiums in Life insurance business reached the value of ALL 759,249 thousand, which indicate a increase 27.23% compared to January – August 2016.
  • The number of Life insurance policies reached 109,632 which indicate an increase by 62.25% compared to January – August 2016.
  • During January – August 2017, the paid claims are in the amount of 3,445,836 thousand, or 30.88% more than January – August 2016.
  • In January – August 2017, there is a increase of 11,100 in the number of paid claims, which reached the number of 31,291 paid claims. The Non-Life insurers paid 30,213 claims and Life insurers paid 1,078claims.

                                            

Source : Albanian Financial Supervisory Authority

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