Gross Written Insurance Premiums income during the period January-July 2021 amounted to over ALL 10,936 million, or 18.62% more compared to January-July 2020. In the period January–July 2021, the number of concluded insurance contracts reached 601,474 registering an increase of 14.71% compared to January-July 2020.

The insurance market continued to be oriented towards non-life insurance, which brought 92.54% share of the total premium volume, leaving life insurance with 7.25% share of the total premium volume. Seen from the market segmentation perspective by the following insurance types: compulsory and voluntary, the voluntary insurance written premiums account for 41.99% and compulsory insurance written premiums account for 58.01% of the total market.

In the period January-July 2021, gross paid claims in insurance market amounted to about ALL 4,245 million, or 6.99% less compared to January–July 2020.

During the period January–July 2021, gross paid claims in the motoric insurance reached the value of ALL 2,386 million, with an increase around 44.53% compared with the same period one year before.

Compulsory Motor Insurance

Compulsory Motor insurance Premiums during the period January–July 2021 amounted to about ALL 6,344 million or 12.76% more compared to January–July 2020.

Domestic MTPL Insurance Premiums registered an increase by 9.97% of the gross written premium volume in the period of January–July 2021. The number of contracts increased by 11.69% compared to January–July 2020.

Green Card Insurance Premiums registered an increase by 20.82% of the gross written premium volume in the period of January–July 2021. The number of contracts increased by 38.12% compared to January–July 2020.

Border Insurance Premiums registered an increase by 94.03% of the gross written premium volume in the period of January–July 2021 compared to January–July 2020. The number of contracts increased by 108.28%.

Voluntary Insurance

In the period January–July 2021, Voluntary Insurance Premiums amounted to about ALL 4,592 million, or 27.79% more compared to January–July 2020. The number of voluntary insurance contracts increased by 6.91% compared to January–July 2020.

In the period January–July 2021, Voluntary Non -Life Insurance Premiums registered an increase by 25.45% compared to January–July 2020.

In the period January–July 2021 the Property, Liability and Guarantee portfolios provided over 2,246 million ALL income in total, and the first place was occupied by Fire and Other Property Damages with about 64.39%, followed by General Liability insurance with 26.61% of the total income.

In the period January–July 2021 the insurance Against Fire and Natural Forces portfolio registered an increase by 48.54% of gross written premium volume of this portfolio and an increase by 10.08% in the number of insurance contracts compared to January–July 2020.

In the period January–July 2021 Accident and Health Insurance income amounted to about ALL 757 million, marking an increase of 7.48% compared to January–July 2020.

In the period January–July 2021, Life insurance premiums amounted to about ALL 792 million, or 36.01% more compared January–July 2020.


*[1]Gross Paid Claims

In the period of January–July 2021 the payment of claims decreased by 6.99% compared to January–July 2020. The highest share of the gross paid claims belong insurance Motor Insurance with about AL 2,386 million, or 56.21% of the total gross paid claims.

The following table illustrates the average claims for the main motor insurance products.
 

Item	Values (in ALL 000)		Change
			(in %)
January - July	2020	2021	21 / 20-1 '
Average Claims
Domestic MTPL	176	187	6.31
Green Card	513	1,145	123.38
Casco	106	122	15.30

For further information, the Statistical Bulletin for the period January–July 2021 contains detailed statistical statements of the insurance market classified by type of insurance, insurance products, participation of insurance companies and other.

To read the full statistical report (in Excel version) for January–July 2021, please click here.