Gross written premiums increase by 3% in Jan-April

TIRANA, May 24 – Gross written premiums reached 2,7 billion lek (27 million dollars), during January-April 2010, increasing by 3 percent year-on-year, the Financial Supervisory Authority has said.
Number of insurance policies signed over January-April 2010 was 189,557 marking a decrease by 17.81 % compared to the same period 2009.
Market continued to be non-life oriented which constitutes about 91 % of the overall premiums’ volume, thus leaving life insurance with a share of about 9 %. From the point of view of market structure according to compulsory and voluntary insurances, gross written premiums from voluntary insurance constitute 53 %, while compulsory insurance premiums 47 % of the market premiums. The growth in voluntary premiums has impacted the change of the market structure with the voluntary insurance gaining importance.
The increase in total gross claims paid was about 31.99 % compared to January-April 2009. The major amount of paid claims belongs to motor insurance with 546 million lek or 86.38 % of the total paid claims, said the Financial Authority.