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

Main features

During year 2018 the insurance market experienced an increase by 4.49% compared to year 2017. Gross insurance premiums amount to ALL 16,921,491 thousand, increasing by ALL 726,800 thousand.

The number of insurance policies reached 1,309,143 which indicate an increase 5.89% compared to year 2017.

Gross insurance premiums in Non-Life insurance business reached the value of ALL 15,725,486 thousand, which indicate an increase by 5.48% compared with year 2017.

The number of Non-Life insurance policies reached 1,176,826 which are 8.24% more than year 2017.

During year 2018, the paid claims are in the amount of 6,972,582 thousand, or 26.23% more than year 2017.

In year 2018, there is a decrease of 261 in the number of paid claims, which reached the number of 43,720 paid claims. The Non-Life insurers paid 41,940 claims.