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

Main features      

  • During January – July 2020 the insurance market experienced a decrease by 5.83% compared to July 2019. The volume  of gross written premiums decreased  ALL 570,288 thousand, down to ALL 9,219,740.
  • The number of policies was 524,347, a decrease of 27.82 % compared to January – July 2019.
  • The volume of gross written premiums in Non-Life insurance business  was  ALL 8,635,914 thousand, a decrease by 4.36% compared to January – July 2019.
  • The number of Non-Life insurance policies was 478,071, a decrease of 27.69% to  January – July 2019.
  • During January – July 2020, the total of paid claims was ALL 4,564,324 thousand, or 38.21% more compared to January – July 2019.
  • The number of claims paid in January – July 2020 was 192, a decrease by 27,918 compared to January – July 2019. Of those, 26,936 claims were paid by Non-Life Insurers.