Albanian insurance companies posted gross written premiums for the period January-September 2013 of ALL 5.92 billion (EUR 41.9), or a 9.28% decrease compared to the same period last year, according to data provided by the Albanian Financial Supervisory Authority. During the analyzed period, the number of signed insurance contracts was 757,328 showing a decrease of 3.05% y-o-y.

The market continued to be dominated by non-life insurance, which share was about 87.76% of the total premium volume. Life insurance market share was about 11.78% (ALL 697 million or 11.15% more y-o-y) and reinsurance was about 0.45%. Market shares of voluntary and compulsory insurance gross written premiums were respectively 54.16% and 45.84%.

The total of paid claims was about ALL 2.06 billion (EUR 14.5 million) or 2.94% less y-o-y. Most of the gross paid claims were related to motor insurance, about ALL 1.75 billion or 85.43% of total gross paid claims.

According to AFSA's figures, on the life insurance segment, the first position is held by SIGAL Life UNIQA Group Austria - almost 60% market share, while on the non-life insurance segment, first two positions were taken by SIGAL UNIQA (30%) and EUROSIG (13.8%) followed by the three companies members of VIENNA Insurance Group (INTERSIG VIG, INTERALBANIAN VIG and SIGMA VIG) which accounted together for a 31.4% market share.

Access www.xprimm.com and download the 3Q2013 Albanian insurance market statistics.