According to the Financial Surveillance Authority report, vehicle insurance premiums increased by 22.45% during the period of January – August 2015, compared to the same period in 2014. Compulsory motor insurance premiums during this period in 2015 are estimated to reach the value of ALL 5,375 ml while gross written premiums volume of internal motor third party liability increased by 28.66% during January – August period in 2015.
The increase of premiums affected also in the increase of the number of insurance contracts, according to the report. Insurance contracts during January – August period in 2015 increased by 6.75%, compared to the same period of 2014.
The report also shows that border insurance product of the volume of gross written premiums decreased by 15.97% during this period and this was followed by a decrease of border insurance contracts by 26.24% in 2015, compared to January – August period in 2014.
In turn, “green card” product in the insurance field increased by 20.54% during January – August period in 2015, compared to January – August 2014 period. This affected in the increase of contracts by 20.60%.
News source: ATA
Photo credits: Chris Potter / Flickr
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