Insurance Market Developments in Albania for the period January- September 2018

Main features

During January – September 2018 the insurance market experienced an increase by 3.61% compared to January – September 2017. Gross insurance premiums amount to ALL 12,460,277 thousand, increasing by ALL 434,207 thousand.

The number of insurance policies reached 955,620 which indicate an increase 5.34 % compared to January – September 2017.

Gross insurance premiums in Non-Life insurance business reached the value of ALL 11,292,837 thousand, which indicate an increase by 4.19% compared with January – September 2017.

The number of Non-Life insurance policies reached 860,123 which are 6.44% more than January – September 2017.

Gross insurance premiums in Life insurance business reached the value of ALL 823,391 thousand, which indicate a decrease 4.23% compared to January – September 2017.

The number of Life insurance policies reached 95,479 which indicate an decrease by 3.56% compared to January – September 2017.

During January – September 2018, the paid claims are in the amount of 3,390,604 thousand, or 8.53% less than January – September 2017.

In January – September 2018, there is a decrease of 1,862 in the number of paid claims, which reached the number of 32,129 paid claims. The Non-Life insurers paid 30,839 claims and Life insurers paid 1,290 claims.

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