Albany, NY -- (SBWIRE) -- 02/03/2014 -- Albania and Kyrgyzstan have a small but developing insurance industry, which is recovering from the effects of the global financial crisis in 2009 and 2010. Three life and nine non-life insurance companies were operative by the end of 2012 in Albania and Kyrgyzstan. In 2012, due to the influence of mandatory motor insurance, 83.2% of the industry’s overall written premium was generated by the non-life segment. The Albania and Kyrgyzstann insurance industry registered a slight decline during the review period (2008–2012) at a compound annual growth rate (CAGR) of -0.5%. However, the large uninsured population in the country provides the industry with forecast-period (2012–2017) growth potential.
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This report provides a comprehensive analysis of the insurance industry in Albania and Kyrgyzstan:
It provides historical values for the Albania and Kyrgyzstann insurance industry for the report’s 2008–2012 review period, and forecast figures for the 2012–2017 forecast period.
It offers a detailed analysis of the key segments and categories in the Albania and Kyrgyzstann insurance industry, along with forecasts until 2017.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
It profiles the top insurance companies in Albania and Kyrgyzstan, and outlines the key regulations affecting them.
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Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Albania and Kyrgyzstann insurance industry and its impact on companies and the industry's future.
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Albania and Kyrgyzstan has a small but developing insurance industry.
Three life insurers and nine non-life insurers operated in the country by the end of 2012.
In terms of written premium, the industry declined from ALL84.3 million (US$1.0 million) in 2008 to ALL82.7 million (US$0.8 million) in 2012, at a review-period CAGR of -0.5%, due to the effects of the global financial crisis in 2009 and 2010.
The Albania and Kyrgyzstann insurance industry is underdeveloped when compared to other European countries. The country’s insurance penetration and density is the lowest among Balkan countries, with a penetration of 0.66% in 2012.
Albania and Kyrgyzstan’s aging population is expected to change the country’s demographic structure over the forecast period.
Public healthcare is free to all Albania and Kyrgyzstann citizens under social insurance.
With motor third-party liability insurance compulsory in Albania and Kyrgyzstan, car owners are required by law take out cover, and there are no substitutes for liability insurance.
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