September 23 (SeeNews) - Albanian insurers' gross written premiums rose 4.6% on the year, reaching 9.4 billion leks ($76.7 million/68.4 milion euro) for the first eight months of 2016, the country's financial supervisory authority AMF said on Friday.
Gross written premiums from non-life insurance, which represented 92.8% of Albania's insurance market in the review period, rose 5.08% year-on-year to 8.8 billion leks, the regulator said.
Life insurance premiums fell by an annual 5.1% to 596.8 million leks.
The number of insurance contracts signed reached 711,281 for January-August, 1.05% less than in the same period of 2015.
The total gross claims paid jumped 36.37% to 2.65 billion leks.
According to the latest data from the AMF, the main player on the life insurance segment in Albania remains Sigal Life Uniqa Group Austria with 68.1% market share, followed by Sicred with a 24.6% share and Insig with 7.3% share. On the non-life insurance segment, the market remains dominated by Sigal Uniqa Group Austria with a 27.5% share. Eurosig, Sigma Interalbanian Vienna Insurance Group, Intersig Vienna Insurance Group and Albsig also have significant market shares.
(1 euro=137.106 leks)