STATISTICS: ALBANIA 3Q2014: The stabilization of MTPL tariffs pushed up the market by more than 45%

The insurance premium revenues for January-September 2014 were about ALL 8,585 million (EUR 61.4 million), or 45.21% more compared to the January-September 2013, Albanian Financial Supervisory Authority (AFSA) informed. Payment of claims, during the period January-September 2014, increased by 1.40% compared to January-September 2013. Most of the gross paid claims were related to motor insurance, about ALL 1,662 million (EUR 11.9 million) or 83.08% of total gross paid claims.

The following report was released by AFSA.

During the period January-September 2014, the number of signed insurance contracts was 757,913 showing an increase of 0.07% compared to the same period last year.

The market continued to be dominated by Non-Life insurance, which share was 90.83% of the total premium volume. Life insurance market share was 8.85% and Reinsurance was 0.32%.

Market shares of voluntary and compulsory insurance gross written premiums were respectively 41.26% and 58.74%.

The total of paid claims during the period January-September 2014 was over ALL 2,000 million (EUR 14.3 million) or 1.40% more, compared with the period January-September 2013.

Read the full report published by AFSA here.

Access www.xprimm.com and download the 3Q2014 Albanian insurance market statistics - market portfolio & market rankings: GWP, claims, growth rates, shares.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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