Insurance Market Developments in Albania for the period January-May 2020

Main features  

  • During January – May 2020 the insurance market experienced a decrease by 9.99% compared to January – May 2019. The volume  of gross written premiums decreased  ALL 673,704 thousand, down to ALL 6,067,723.
  • The number of policies was 354,651, a decrease of 26.53 % compared to January – May 2019.
  • The volume of gross written premiums in Non-Life insurance business  was  ALL 5,661,943 thousand, a decrease by 8.89% compared to January – May 2019.
  • The number of Non-Life insurance policies was 320,929, a decrease of 26.49% to  January – May 2019.
  • During January – May 2020, the total of paid claims was ALL 3,416,717 thousand, or 45.88% more compared to January – May 2019.
  • The number of claims paid in January – May 2020 was 19,898, a increase by 364 compared to January – May 2019. Of those, 19,198 claims were paid by Non-Life Insurers.