STATISTICS: ALBANIA, 1H2018: domestic mandatory motor TPL insurance reins the market, increasing its weight by 2 pp

The about 5% appreciation of the Albanian Lek against EURO has favored the market results denominated in European currency, showing a higher growth rate than in local currency. Thus, in EUR, GWP increased overall by 9.43%, to EUR 61.2 million.

The domestic mandatory motor TPL insurance (DMTPL) provided for most of the market growth, recording a 12.9% y-o-y GWP increase. Overall, motor insurance continues to account for the largest part of the market (over 65% of the portfolio, 2 percentage points more y-o-y) Property insurance lines are holding an almost 13% share of the market portfolio, their weight slightly increasing y-o-y, by 0.5 percentage points. The Fire and allied perils line saw a 31.5% y-o-y growth, representing the main property business line, with GWP of EUR 6.76 million.

SIGAL Uniqa Group Austria leads the non-life market, with 26.5% market share, while its "sister" company, SIGAL Life Uniqa Group Austria accounts for over 63% of the specialty market.

Access www.xprimm.com and download the 1Q2018 Albanian insurance market statistics.

  • Market indicators (in EUR and ALL): GWP / Claims / Growth rates / Portfolio;
  • Life & non-life market rankings (in EUR and ALL): GWP / Claims / Rates / Shares.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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