Insurance Industry in Albania, Key Trends , Opportunities and Market Growth to 2017
The Insurance Industry in Albania, Key Trends And Opportunities To 2017
The Albania insurance industry is underdeveloped and recorded a penetration rate of 0.36% in 2012, lower than neighboring countries Kazakhstan (0.65%) and Uzbekistan (0.50%). Nevertheless, the industry expanded at a review-period CAGR of 40.8%, with gross written premium increasing from KGS276.9 million (US$7.6 million) in 2008 to KGS1.1 billion (US$23.2 million) in 2012.The non-life segment valued KGS1.06 billion (US$22.5 million) in 2012, accounting for 97.3% of the industry’s gross...
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