During the first semiannual of this year, revenues from insurance gross written premiums reached the value of ALL 7.730 ml, equal to 21.04% more than the same period of a year ago. The number of insurance contracts increased to 603,802, or by 9.16% compared to a year ago.
According to a report published by INSTAT, the market is oriented towards non-life insurance contracts which during the first semiannual of the year were estimated to be 92.74% of the overall volume of gross written premiums. Life insurance contracts increased by 7.10%, while reinsurance activity increased by 0.71%. Voluntary insurance gross written premiums increased comprise 42,165 of the total while obligatory gross written premiums comprise 57.84% of the total of the market.
During the same period, the paid damages in the insurance market reached the value of ALL 1,756.000, increasing by 13.29% more than the same period of a year ago.
News source: ATA
Photo credits: Pixabay