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

Main features

During January – May 2018 the insurance market experienced an increase by 3.01% compared to January – May 2017. Gross insurance premiums amount to ALL 6,277,101 thousand, increasing by ALL 183,634 thousand.

The number of insurance policies reached 462,260 which indicate an increase 7.30% compared to January – May 2017.

Gross insurance premiums in Non-Life insurance business reached the value of ALL 5,838,951 thousand, which indicate an increase by 3.62% compared with January – May 2017.

The number of Non-Life insurance policies reached 410,335 which are 8.48% more than January – May 2017.

Gross insurance premiums in Life insurance business reached the value of ALL 432,700 thousand, which indicate a increase 8.48% compared to January – May 2017.

The number of Life insurance policies reached 51,914 which indicate an decrease by 1.21% compared to January – May 2017.

During January – May 2018, the paid claims are in the amount of 1940,144 thousand, or 17.57% less than January – May 2017.

In January – May 2018, there is a decrease of 3,759 in the number of paid claims, which reached the number of 17,722 paid claims. The Non-Life insurers paid 17,003 claims and Life insurers paid 719 claims.