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

Main features

  • During January – November 2017 the insurance market experienced an increase by 6.85% compared to January – November 2016. Gross insurance premiums amount to ALL 14,290,466 thousand, increasing by ALL 916,255 thousand.
  • The number of insurance policies reached 1,136,689 which indicate an increase 14.06% compared to January -November 2016.
  • Gross insurance premiums in Non-Life insurance business reached the value of ALL 13,228,146 thousand, which indicate an increase by 5.54% compared with January – November 2016.
  • The number of Non-Life insurance policies reached 977,680 which are 8.65% more than January – November 2016.
  • Gross insurance premiums in Life insurance business reached the value of ALL 1,021,329 thousand, which indicate a increase 228.16% compared to January – November 2016.
  • The number of Life insurance policies reached 158,967 which indicate an increase by 64.43% compared to January – November 2016.
  • During January – November 2017, the paid claims are in the amount of 4,359,655 thousand, or 16.39% more than January – November 2016.
  • In January – November 2017, there is a increase of 12,074 in the number of paid claims, which reached the number of 40,477 paid claims. The Non-Life insurers paid 39,080 claims and Life insurers paid 1,397 claims.