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

Main features

  • During year 2017 the insurance market experienced an increase by 5.38% compared to year 2016. Gross insurance premiums amount to ALL 16,193,678 thousand, increasing by ALL 826,038 thousand.
  • The number of insurance policies reached 1,261,238 which indicate an increase 11.99% compared to year 2016.
  • Gross insurance premiums in Non-Life insurance business reached the value of ALL 14,907,715 thousand, which indicate an increase by 4.21% compared with year 2016.
  • The number of Non-Life insurance policies reached 1,087,274 which are 7.38% more than year 2016.
  • Gross insurance premiums in Life insurance business reached the value of ALL 1,204,267 thousand, which indicate a increase 23.15% compared to year 2016.
  • The number of Life insurance policies reached 173,917 which indicate an increase by 53.08% compared to year 2016.
  • During year 2017, the paid claims are in the amount of 5,514,171 thousand, or 15.80% more than year 2016.
  • In year 2017, there is a increase of 12,538 in the number of paid claims, which reached the number of 43,954 paid claims. The Non-Life insurers paid 42,390 claims and Life insurers paid 1,564 claims.