The insurance market reached over ALL 3,021 million for the period January-March 2015, or 14.41% more compared to the period January-March 2014. During January-March 2015, the number of issued insurance contracts reached 225,337 showing an increase of 10.08% compared to the period January-March 2014. The market continued to be dominated by Non-Life insurance, which share was 92.51% of the total premium volume and Life insurance market share was 7.49%. Market shares of voluntary and compulsory insurance gross written premiums were respectively 40.71% and 59.29%.

The total of paid claims during the period January-March 2015 was about ALL 706 million or 18.61% more, compared with January-March 2014.

Compulsory Motor Insurance

During January-March 2015, the compulsory motor insurance premiums were over ALL 1,791 million, showing an increase by 34.75% compared to the period January-March 2014.

Gross written premiums in Domestic MTPL insurance, increased by 38.49% in January-March 2015. The number of insurance contracts also increased by 9.19% compared to January-March 2014.

Gross written premiums in Border Insurance, for the period January-March 2015 decreased by 16.39%. The number of contracts also decreased by 21.89% compared to the period January-March 2014.

Gross written premiums in Green Card insurance, increased by 32.18% in the period January-March 2015 compared to the same period last year. The number of contracts increased by 20.95% compared to the period January-March 2014.

Voluntary Insurance

Voluntary insurance premiums for January-March 2015 were about ALL 1,230 million or 5.11% less than the same period last year. The number of insurance contracts increased by 11.62% compared to the period January-March 2014.

Non-Life voluntary insurance during the period January-March 2015 experienced a decrease by 2.60% compared to the same period last year.

During the reporting period, January-March 2015, the total revenues in the portfolios of property, liability and guarantee insurance, were about ALL 578 million. The biggest share of this portfolio, with 76.52%, was taken by Fire and other property damage insurance, followed by General liability insurance with about 13.64%.

Gross written premiums in insurance against fire and natural forces portfolio, during the period January-March 2015 were decreased by 16.64%. The number of contracts increased by 9.82% compared to the period January-March 2014.

Gross written premium volume in accidents and health insurance was about ALL 269 million in January-March 2015, experiencing an increase by 57.85% compared to the same period last year.

Life insurance premiums for January-March 2015 reached over ALL 226 million or 14.83% less than January-March 2014.

Payment of claims, during January-March 2015, increased by 18.61% compared to January-March 2014. Most of the gross paid claims were related to motor insurance, about ALL 477 million or 67.57% of total gross paid claims.

The table below illustrates the average claim in main motor insurance products.       

For further detailed information, the Monthly Statistical Report, for the period January-March 2015, contains detailed tables and charts on the division of the insurance market by type of insurance, insurance product, insurance company share, etc.