Damages paid for car, property and health insurance reached 4.3 billion ALL in the first 8 months, with an increase compared to last year. Meanwhile, in this period the insurance market has expanded with over 10%.

During the months of January-August 2023, gross paid claims in the insurance market reached about 4.3 billion ALL, or 3.5% more than the 8th month of 2022. This was mainly due to the effect of real estate and motor vehicle insurance.

Most of the damages paid in this period belong to the car market, in the amount of 3.1 billion ALL.

In the report presented by the Financial Supervision Authority, the value of insurance assets reached about 8.9 billion ALL.

According to the document, during the January-August period, the number of signed contracts reached 971,000 with a 12% increase, compared to the same period a year ago, when 867,000 were signed.

The Financial Supervision Authority (AMF) estimates that the market remains oriented towards car and property insurance, which brought 86% of the total volume of premiums.

Voluntary insurance accounts for 46.5% and gross written premiums of compulsory insurance account for 53.5% of the total market.