The Albanian insurance market reached ALL 10 billion (EUR 102 million) in the first five months of the year, up 7.6% y-o-y, according to the Albanian Financial Supervisory Authority (AFSA), SeeNews reports.

Non-life segment grew 7.2% to ALL 9.12 billion from January through May, while the life insurance segment recorded a 11.6% rise to ALL 945 million, as AFSA said in a monthly data release.

Total paid claims decreased by 5.6% y-o-y to ALL 3.3 billion.

It is noted that the statistics include data from eight insurance companies operating in Albania. In the first five months of the year, Sigal Uniqa Group Austria was the largest non-life insurance company with a market share of 27%, followed by Albsig, with 19.45%.

*EUR 1 = ALL 98.15