The insurance market reached over ALL 8,873 million during the period January - July 2017, or 11.43% more compared to the period January - July 2016. During January - July 2017, the number of issued insurance contracts reached 672,162 showing an increase of 14.73 % compared to January - July 2016. The market continued to be dominated by Non-Life insurance, which share was 92.02% of the total premium volume, Life insurance and Reinsurance market share was respectively 7.61% and 0.38% of the total premium volume.  Market shares of voluntary and compulsory insurance gross written premiums were respectively 40.08% and 59.92%.

The total of paid claims during the period January - July 2017 was about ALL 3,085 million or 30.24% more, compared to the period January - July 2016.

Compulsory Motor Insurance

During January - July 2017, the Compulsory Motor insurance premiums were about ALL 5,297 million, showing an increase by 12.34% compared to January - July 2016.

Gross written premiums in Domestic MTPL insurance, increased by 15.74% in the period January - July 2017 compared to the period January - July 2016. The number of insurance contracts also increased by 7.30% compared to the same period in the previous year.

Gross written premiums in Border insurance, in January - July 2017 decreased by 9.28% compared to January - July 2016. The number of contracts increased by 2.23% compared to the same period of the previous year.

Gross written premiums in Green Card insurance, increased by 4.11% in January - July 2017 compared to January - July 2016. The number of contracts also increased by 3.52% compared to the same period in the previous year.

Voluntary Insurance

Voluntary insurance premiums for the period January - July 2017 were about ALL 3,543 million or 10.05% more than the same period last year. The number of insurance contracts increased by 24.31% compared to the period January - July 2016.

Non-Life voluntary insurance during the period January - July 2017 experienced an increase by 6.25% compared with the same period last year.

During the reporting period, January - July 2017, the total revenues in the portfolios of property, Liability and Guarantee insurance, were over ALL 1,463 million. The biggest share of this portfolio, with 72.16%, was taken by Fire and other Property Damage insurance, followed by General Liability insurance with about 19.39%.

Gross written premiums of insurance Against Fire and Natural Forces portfolio, during the period January - July 2017 decreased by 14.23% compared with the same period last year. The number of contracts decreased by 8.36% compared to January - July 2016.

Gross written premium volume in Accidents and Health insurance was about ALL 777 million in the period January - July 2017, experiencing a decrease by 1.20% compared with the same period last year.
 
Life insurance premiums for the period January - July 2017 reached over ALL 675 million or 29.73% more than the period January - July 2016.
 
Gross Paid Claims

Payment of claims, during January - July 2017, increased by 30.24% compared to the January - July 2016. Most of the gross paid claims were related to Motor insurance, about ALL 1,824 million or 59.15% of total gross paid claims.



For further detailed information, the Monthly Statistical Report, for the period January - July 2017, contains detailed tables and charts on the division of the insurance market by type of insurance, insurance product, insurance company share, etc.

To read the full monthly statistical report (in Excel version) for the period January - July 2017, please click here.