insurance-written premiums-market – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Fri, 29 Dec 2023 16:32:36 +0000 en-US hourly 1 Financial Supervisory Authority: Insurance market performed positively https://en.ata.gov.al/2023/12/29/financial-supervisory-authority-insurance-market-performed-positively/ https://en.ata.gov.al/2023/12/29/financial-supervisory-authority-insurance-market-performed-positively/#respond Fri, 29 Dec 2023 16:32:36 +0000 https://en.ata.gov.al/?p=223649 TIRANA, Dec 29 /ATA/ Data from the Financial Supervisory Authority (FSA) show that Gross Written Insurance Premiums for 11 month period reached the value of 20.5 billion lek, an increase of 8.4% compared to the same period last year.

Referring to the data, the insurance market this year has shown a positive trend, also thanks to the impetus given by the premiums related to the growth of tourism.

Some of the main Voluntary Insurance Premiums, such as property insurance or CASCO insurance have recorded double-digit growth rates.

Meanwhile, Compulsory Motor Insurance Premiums also continue to grow, but at lower average rates. Compulsory third-party liability insurance premiums increased by 7% for the 11-month period, while their specific share in total gross written premium volume decreased to 66.3%, about one percentage point less compared to a year ago.

The highest growth rate was observed in domestic MTPL Insurance Premiums, which was 8.3%, while Green Card and Border Insurance registered modest growth, between 1% and 2%. However, this is related to the negative statistical effect of the exchange rate.
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