TIRANA, June 14 /ATA/ The life insurance market showed growth rates during the first 4 months of this year.
According to Financial Supervisory Authority, in the period January-April 2021, life insurance premiums amounted to about ALL 392 million, or 19.99% more compared January–April 2020.
Gross Written Insurance Premiums income during the period January-April 2021 amounted to over ALL 5,355 million, or 13.54% more compared to January-April 2020. In the period January–April 2021, the number of concluded insurance contracts reached 269,245 registering a decrease of 5.31% compared to January-April 2020.
The insurance market continued to be oriented towards non-life insurance, which brought 92.67% share of the total premium volume, leaving life insurance with 7.31% share of the total premium volume. Seen from the market segmentation perspective by the following insurance types: compulsory and voluntary, the voluntary insurance written premiums account for 45.16% and compulsory insurance written premiums account for 54.84% of the total market.
In the period January-April 2021, gross paid claims in insurance market amounted to about ALL 2,542 million, or 13.4% less compared to January-April 2020.
During the period January–April 2021, gross paid claims in the motoric insurance reached the value of ALL 1,382 million, with an increase around 58.87% compared with the same period one year before.
Compulsory Motor insurance Premiums during the period January-April 2021 amounted to about ALL 2,936 million or 10.93% more compared to January-April 2020.
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