Insurance market has grown twofold since 2008: FSA

The insurance market in Albania has recorded a steady growth over the past ten years, while the most significant growth has been recorded in the last four years.

According to data from the Financial Supervisory Authority, the volume of gross written premiums amounted to Lek 14,993 million in 2017, from Lek 6,561 million in 2008, marking a twofold increase.

Non-life insurance continues to be dominant in the market and this segment is dominated by compulsory motor insurance.

Compulsory motor insurance has also marked a steady increase, with little fluctuation after 2011, the year when mandatory motor insurance was liberalized.

The chart below shows the performance of insurance premiums for the entire market and mandatory motor insurance premiums over a 10-year period.

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