Albania's insurance market suffered a sharp decline by 31.82% in January 2012, according to Albania's Financial Supervisory Authority.

The number of gross insurance premiums in January 2012 totaled 584,454 thousand Leks as the number of insurance policies decreased by 14,655. Non-life insurance fell 35.33% year on year, whereas life insurance suffered only a 13.07% drop compared to the same period the previous year. Meanwhile, gross paid claims registered an increase of 7.54% compared to January 2011.

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ALBANIA: Insurance Market Plummeted in January 2012