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

Main features 

  • During January – October 2017 the insurance market experienced an increase by 8.92% compared to January – October 2016. Gross insurance premiums amount to ALL 13,076,439 thousand, increasing by ALL 1,070,745 thousand.
  • The number of insurance policies reached 1,042,340 which indicate an increase 15.32% compared to January – October 2016.
  • Gross insurance premiums in Non-Life insurance business reached the value of ALL 12,089,866 thousand, which indicate an increase by 7.61% compared with January – October 2016.
  • The number of Non-Life insurance policies reached 893,388 which are 9.33% more than January – October 2016.
  • Gross insurance premiums in Life insurance business reached the value of ALL 945,928 thousand, which indicate a increase 28.50% compared to January – October 2016.
  • The number of Life insurance policies reached 148,915 which indicate an increase by 71.66% compared to January – October 2016.
  • During January – October 2017, the paid claims are in the amount of 4,006,529 thousand, or 15.80% more than January – October 2016.
  • In January – October 2017, there is a increase of 11,494 in the number of paid claims, which reached the number of 37,091 paid claims. The Non-Life insurers paid 35,804 claims and Life insurers paid 1,287 claims.