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Financial Supervision Authority: ALL 2.7 billion damages were paid in the January-May period

2023-06-28 16:57:00, Ekonomi CNA

Financial Supervision Authority: ALL 2.7 billion damages were paid in the

The Financial Supervision Authority in the latest report states that the damages paid for car, property and health insurance reached 2.7 billion ALL in the first 5 months, with a decrease compared to last year.

Meanwhile, the insurance market has expanded by 15% this period.

During the months of January-May 2023, the gross claims paid in the insurance market reached about ALL 2.7 billion, or 0.3% less than the first 5 months of 2022.

This was mainly due to the effect of property insurance, as a result of the end of the payments of damages for the earthquake events of 2019. Most of the damages paid in this period belong to the car market, in the amount of 1.9 billion ALL.

In the report presented by the Financial Supervision Authority, it can be seen that the value of insurance assets reached about ALL 8.9 billion. According to the document, during the January-May period, the number of signed contracts reached 505,000 with a 13% increase, compared to the same period a year ago, when 445,000 were signed.

AMF estimates that the market remains oriented towards car and property insurance, which brought 92% of the total volume of premiums, compared to 8% for life insurance policies.

Voluntary insurance occupies 46.5% and gross written premiums of compulsory insurance occupy 53.5% of the total market./ CNA.al





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