TIRANA, June 28/ATA/ The improvement of the pandemic situation in the country, accompanied by the easing of restrictive measures, caused the revenues from gross written insurance premiums during January-May 2021 to increase by 15.5%, reaching ALL 7 billion.
Data published by the Financial Supervision Authority (FSA) show that, during January-May 2021, the number of concluded insurance contracts reached 361,233 marking an increase of 1.86% compared to the same period of 2020.
The market continued to remain oriented towards non-life insurances, which constitute 92.95% of the total volume of premiums, while life insurances accounted for 7%.
Gross voluntary written insurance premiums constitute 43.44% and gross written compulsory insurance premiums account for 56.56% of the total market.
In January-May of 2021, the Cross Border Insurance Product marked an increase of 97.86% of the volume of gross written premiums compared to the same period of 2020. The number of contracts also increased by 106.29%.
While, in the fire and natural forces insurance portfolio, in January-May 2021, there has been an increase of 41.13% of the volume of gross written premiums of this portfolio and an increase of 11.09% of the number of insurance contracts, compared to the same period of 2020. //a.i/
