The insurance market reached over ALL 10,067 million for the period January-September 2015, or 17.27% more compared to the period January-September 2014. During January-September 2015, the number of issued insurance contracts reached 812,287 showing an increase of 7.17% compared to the period January-September 2014. The market continued to be dominated by Non-Life insurance, which share was 93.04% of the total premium volume, Life insurance market share was 6.84% and reinsurance market share was 0.13% of the total premium volume. Market shares of voluntary and compulsory insurance gross written premiums were respectively 39.31% and 60.69%.

The total of paid claims during the period January-September 2015 was about ALL 2,344 million or 17.63% more, compared with January-September 2014.

Compulsory Motor Insurance

During January-September 2015, the compulsory motor insurance premiums were about ALL 6,102 million, showing an increase by 21.38% compared to the period January-September 2014.

Gross written premiums in Domestic MTPL insurance, increased by 27.39% in January-September 2015. The number of insurance contracts also increased by 6.79% compared to January-September 2014.

Gross written premiums in Border Insurance, for the period January-September 2015 decreased by 15.96%. The number of contracts also decreased by 26.47% compared to the period January-September 2014.

Gross written premiums in Green Card insurance, increased by 17.77% in the period January-September 2015 compared to the same period last year. The number of contracts increased by 19.00% compared to the period January-September 2014.

Voluntary Insurance

Voluntary insurance premiums for January-September 2015 were over ALL 3,953 million or 11.96% more than the same period last year. The number of insurance contracts increased by 12.06% compared to the period January-September 2014.

Non-Life voluntary insurance during the period January-September 2015 experienced an increase by 17.82% compared to the same period last year.

During the reporting period, January-September 2015, the total revenues in the portfolios of property, liability and guarantee insurance, were about ALL 1,848 million. The biggest share of this portfolio, with 71.92%, was taken by Fire and other property damage insurance, followed by General liability insurance with about 19.29%.

Gross written premiums in insurance against fire and natural forces portfolio, during the period January-September 2015 decreased by 0.22%. The number of contracts increased by 5.02% compared to the period January-September 2014.

Gross written premium volume in accidents and health insurance was about ALL 904 million in January-September 2015, experiencing an increase by 48.97% compared to the same period last year.

Life insurance premiums for January-September 2015 reached over ALL 688 million or 9.41% less than January-September 2014.

Gross Paid Claims

Payment of claims, during January-September 2015, increased by 17.63% compared to January-September 2014. Most of the gross paid claims were related to motor insurance, about ALL 1,490 million or 63.55% 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-September 2015, 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 material for the period January-September 2015 monthly statistical report (in Excel version), please click here.