August 29 (SeeNews) - Albanian insurers' gross written premiums rose 3% on the year to 7.96 billion leks ($58.2 million/64.9 million euro) in the first seven months of 2016, the country's financial supervisory authority said.
Gross written premiums from non-life insurance, which represented 92.7% of Albania's insurance market in the review period, rose 3.4% year-on-year to 7.4 billion leks, the regulator said in a statement last week.
Life insurance premiums fell by an annual 5.13% to 520.5 million leks.
The number of insurance contracts signed reached 585,882 in January-July, 2.97% less than in the same period of 2015.
The total gross claims paid jumped 38.8% to 2.4 billion leks.
According to the latest data from the financial supervisory authority, the main player on the life insurance segment in Albania remains Sigal Life Uniqa Group Austria with 68.8% market share, followed by Sicred with 23.3% share and Insig with 7.9% share. On the non-life insurance segment, the market is dominated again by Sigal Life Uniqa Group Austria with 27.9% share. Significant market shares have also Eurosig, Sigma Interalbanian Vienna Insurance Group, and Intersig Vienna Insurance Group.
(1 euro=136.862 leks)