The insurance market reached over 1,500 million during January 2021, or 9.07% more compared to January 2020. During January 2021, the number of issued insurance contracts reached 71,184 showing a decrease of 29.81% compared to January 2020. The market continued to be dominated by Non-Life insurance, which share was 93.7% of the total premium volume, Life insurance market share was 6.3% of the total premium volume. Market shares of voluntary and compulsory insurance gross written premiums were respectively 45.95% and 54.05%.

The total of paid claims during January 2021 was about ALL 541 million or 28.07% less, compared to January 2020.

Compulsory Motor Insurance
During January 2021, the Compulsory Motor insurance premiums were about ALL 811 million, showing a decrease by 6.18% compared to January 2020.

Gross written premiums in Domestic MTPL insurance, decreased by 1.32% in January 2021 compared to January 2020. The number of insurance contracts also increased by 0.39% compared to the January 2020.

Gross written premiums in Green Card insurance, decreased by 33.44% in January 2021 compared to January 2020. The number of contracts also decreased by 49.43% compared to the same period in the previous January 2020.

Gross written premiums in Border insurance, in January 2021 increased by 13.39% compared to January 2020. The number of contracts also increased by 5.71% compared to the same period of the previous year.

Voluntary Insurance
Voluntary insurance premiums for January 2021 were about ALL 689 million or 34.86% more than the same period last year. The number of insurance contracts decreased by 50.33% compared to January 2020.

Non-Life voluntary insurance during January 2021 experienced an increase by 43.12% compared with January 2020.

During the reporting, January 2021, the total revenues in the portfolios of property, Liability and Guarantee insurance, were over ALL 408 million. The biggest share of this portfolio, with 77.06%, was taken by Fire and other Property Damage insurance, followed by General liability insurance with about 15.41%.

Gross written premiums of insurance Against Fire and Natural Forces portfolio, during January 2021 increased by 126.21% compared with the same period last year. The number of contracts increased by 1.74% compared to January 2020.

Gross written premium volume in Accidents and Health insurance was about ALL 109 million in January 2021, experiencing a decrease by 2.54% compared with the same period last year.

Life insurance premiums for January 2021 reached over ALL 94 million or 1.09% less than January 2020.
 
*[1]Gross Paid Claims
Payment of claims, during January 2021, decreased by 28.07% compared to January 2020. Most of the gross paid claims were related to motor insurance, about ALL 302 million 55.97% of total gross paid claims.

The table below illustrates the average claims paid for the main motor insurance products, during January 2021 in comparison to January 2020.
                                                                                                           

Type of Insurance	Value (in thousand ALL)		Change
			(in %)
January	2020	2021	21/`20-1
Average Paid Claim
Domestic MTPL	119	194	63.59
Green Card	325	671	106.43
Casco	95	109	14.75

For further detailed information, the Monthly Statistical Report, for January 2021, 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 January 2021, please click here.