Albanian insurers' premiums revenues for the period January-March 2012 were about ALL 1.88 billion (EUR 13.41 million), or 15.74% less than January-March 2011, according to Albanian Financial Supervisory Authority (AFSA). "The major impact in this decrease of total gross written premium had compulsory motor insurance Green Card and accidents, with about 83% of the total decrease", showed an AFSA press release.

During the period January-March 2012 the number of insurance contracts was of 218,770 or 26.32% less compared with 1Q2011. The market continued to be dominated by non-life insurance, which share was of 86.41% of the total premium volume. Life insurance market share's was 13.59%. According to AFSA, market shares of voluntary and compulsory insurance gross written premiums were respectively 55.36% and 44.64%.

In the analyzed period, the value of claims paid by insurers increased by 42.85% to ALL 722.4 million (EUR 5.2 million). Most of the paid claims were related to motor insurance, about ALL 546 million (EUR 3.9 million) or 75.53 % of total gross paid claims.

In 1Q2012, 10 players operated in the Albanian insurance market, two of these specialized on life segment (SICRED and SIGAL Life UNIQA Group Austria), seven non-life insurers, and one (INSIG) on both market segments.

On the general insurance segment, the leader remains SIGAL UNIQA Group Austria, with underwritings amounting EUR 3.45 million (29.8% market share), while on the life insurance segment, the first position is held by SIGAL Life UNIQA Group Austria - EUR 0.71 million (38.8% market share).

Access www.xprimm.com and download the 1Q2012 Albanian insurance market statistics.

Market indicators (in EUR and ALL):

• GWP
• Claims 
• Growth rates
• Portfolio
  

Life and non-life market rankings (in EUR and ALL):

• GWP
• Claims 
• Growth rates
• Market shares