Gross Written Insurance Premiums income during January 2024 amounted to over ALL 1,774 million, or 3.62% more compared to January 2023. In January 2024, the number of concluded insurance contracts reached 104,439 registering an increase of 8.20% compared to January 2023.

The insurance market continued to be oriented towards non-life insurance, which brought 90.38% share of the total premium volume, leaving life insurance with 9.62% share of the total premium volume and reinsurance with 0.005 % 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 41.13% and compulsory insurance written premiums account for 58.87% of the total market.

In January 2024, gross paid claims in insurance market amounted to about ALL 608 million, or 8.50% more compared to January 2023.

During January 2024, gross paid claims in the motoric insurance reached the value of ALL 413 million, with an increase around 17.92% compared with the same period one year before.

Compulsory Motor Insurance

Compulsory Motor Insurance Premiums during January 2024 amounted to about ALL 1,044 million or 9.31% more compared to January 2023.

Domestic MTPL Insurance Premiums registered an increase 11.33% of the gross written premium volume in January 2024. The number of contracts increased by 11.16% compared to January 2023.

Green Card Insurance Premiums registered a decrease 1.29% of the gross written premium volume in of January 2024. The number of contracts increased by 19.32% compared to January 2023.

Border Insurance Premiums registered an increase by 2.52% of the gross written premium volume in of January 2024 compared to January 2023. The number of contracts increased by 2.35%.

Voluntary Insurance
In January 2024, Voluntary Insurance Premiums amounted to about ALL 730 million, or 3.55% less compared to January 2023. The number of voluntary insurance contracts decreased by 1.50% compared to January 2023.
In January 2024, Voluntary Non -Life Insurance Premiums registered a decrease by 6.00% compared to January 2023.
In January 2024 the Property, Liability and Guarantee portfolios provided over 277 million ALL income in total, and the first place was occupied by Fire and Other Property Damages with about 60.20%, followed by General Liability insurance with 30.44% of the total income.
In January 2024 the insurance Against Fire and Natural Forces portfolio registered an increase by 18.34% of gross written premium volume of this portfolio and a decrease by 1.42% in the number of insurance contracts compared to January 2023.
In January 2024 Accident and Health Insurance income amounted to about ALL 158 million, marking an increase of 18.05% compared to January 2023.
In January 2024, Life insurance premiums amounted to about ALL 171 million, or 5.37% more compared January 2023.

*[1]Gross Paid Claims

In January 2024 the payment of claims increased by 8.50% compared to January 2023. The highest share of the gross paid claims belongs to Motor Insurance with about AL 413 million, or 67.98% 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	2023	2024	24/`23-1
Average Claims
Domestic MTPL	163	135	(17.23)
Green Card	704	556	(21.14)
Casco	124	113	(9.11)

For further information, the Statistical Bulletin for January 2024 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 2024, please click here.