What did the Albanians provide more in the first 5 months?

Although voluntary insurance premiums have decreased in the first five months of the year, the number of signed contracts has increased. Referring to data from the Financial Supervision Authority (AMF), voluntary insurance premiums during January - May 2024 reached the value of 4 billion ALL, 3.56% less than in the first 5 months of 2023. While the number of voluntary insurance contracts increased by 1.45%.

Insurance companies continue to collect more revenue from life, accident and health insurance. Specifically, life insurance premiums reached the figure of 847 million ALL during the month of January - May 2024, increasing by 19.28% compared to the same period a year ago. While the income from accident and health insurance increased by 10.17%.

Also, from the AMF data, it appears that fewer Albanians have chosen to pour money for property insurance. In the portfolios of property, liability and guarantees, about 500 million lek less was collected compared to January - May 2023. The main weight in this portfolio was taken by fire and other damage to property with about 70.72%, followed by liability insurance general.

In terms of insurance against natural disasters, there was a high number of people who chose to be insured for the first time, but the cash contribution was smaller. Thus, there was a decrease of 25.61% in the volume of gross written premiums of this portfolio and an increase of 3.94% in the number of insurance contracts, estimated for the period January - May 2023.