Thus, according the FSA data, during the 2015's first three quarters, the compulsory motor insurance premiums were about ALL 6.1 billion, showing an increase by 21.38% compared with 3Q2014:
- GWP in Domestic MTPL insurance, increased by 27.39% , while the number of insurance contracts also increased by 6.79% y-o-y;
- GWP in Border Insurance decreased by 15.96%. The number of contracts also decreased by 26.47% compared to the period January-September 2014;
- GWP in Green Card insurance, increased by 17.77% y-o-y. The number of contracts increased by 19.00% y-o-y.
The total revenues in the portfolios of property, liability and guarantee insurance, were about ALL 1.85 billion, the biggest share of this portfolio, of71.92%, being taken by the Fire and other property damage insurance, followed by General liability insurance with about 19.29%.
It is worth noting that GWP for the insurance against fire and natural forces line, decreased by 0.22% in 3Q2015 although the number of contracts increased by 5.02% y-o-y.
The Life insurance remained on a negative path, with GWP decreasing by almost 10% y-o-y. to ALL 688.1 million (EUR 4.9 million). Life insurance segment's weight in the market portfolio not only remained very small, but further decreased from 8.85% by the end of 3Q2014, to 6.8% in September 2015.
Access www.xprimm.com and download the 3Q2015 Albanian insurance market statistics.
Market indicators (in EUR and ALL):
- Growth rates