“The recovery was observed both in the level of income from insurance premiums, as well as in the markets of investment funds and private pensions. “This stability of private markets under the supervision of the AFSA, including the handling of earthquake payments, suggests that the sector has the capacity to withstand the increased risks posed by the current situation,” Mete said during the presentation of the 2021 report to the Parliamentary Committee on Economy and Finance.

“At the end of 2021, the total assets of the markets under the supervision of the AFSA reached ALL 128 billion with an increase of 15.9%, compared to 2020. “The share of assets has reached 7.3% of GDP,” he said.
The head of AFSA pointed out that during the first quarter of this year, the insurance market and that of private pension funds have continued to grow, while there is a slight decline of about 1.1% in the assets of investment funds mainly as a result of volatility in international markets due to the Russia-Ukraine conflict. However, he assured that the exposure of our investment funds to international markets remains limited and is being monitored by the FSA.

Mete said that during 2021 the legal and regulatory basis was reformatted. He also spoke about a new draft law on private pension funds in accordance with the new EU directive, which he said is in the consultation phase. /a.a/sm/