Covid-19 also hits the insurance sector / Revenues and contracts fall

The situation created by COVID-19, the restriction of movements, the decline in incomes of the citizens, the rising unemployment, seems to have brought consequences in the insurance market as well. According to official data from the Financial Supervision Authority, revenues from gross written insurance premiums in the first half of the year reached the value of about ALL 7.5 billion, or 6.66% less than in January-June 2019.

Meanwhile, the number of concluded insurance contracts decreased by 26.45%, reaching about 435 thousand. Referring to FSA data, the market continued to remain again oriented towards Non-Life insurance, which brought about 93.5% of the total volume of premiums, leaving Life Insurance with 6.5%. Although they dominate the market, compulsory motor insurance premiums fell by 6.7 percent in the first half of the year, where the biggest negative impact was given by border insurance and green card, due to the closure of borders as a result of the measures taken to halt the COVID-19.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.