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

Main features

  • During January – June 2020 the insurance market experienced a decrease by 6.66% compared to January – June 2019. The volume  of gross written premiums decreased  ALL 537,925 thousand, down to ALL 7,543,804.
  • The number of policies was 434,968, a decrease of 26.45 % compared to January – June 2019.
  • The volume of gross written premiums in Non-Life insurance business  was  ALL 7,052,684 thousand, a decrease by 5.11% compared to January – June 2019.
  • The number of Non-Life insurance policies was 395,166, a decrease of 26.19% to  January – June 2019.
  • During January – June 2020, the total of paid claims was ALL 4,080,728 thousand, or 46.75% more compared to January – June 2019.
  • The number of claims paid in January – June 2020 was 23,954, a increase by 451 compared to January – June 2019. Of those, 23,108 claims were paid by Non-Life Insurers..