Non -Life Insurance Sector Buoyant Share in the Insurance Industry Albania REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit June 2016, Gurgaon The insurance industry growth is immensely hinged on motor third-party liability insurance in Albania The Albania insurance industry will support private agriculture insurance Ken Research announced its latest publication on, “The Insurance Industry in Albania, Key Trends and Opportunities to 2019”, which provides a detailed analysis of the insurance industry in Albania. Category-wise coverage of different segments in the industry is also included in the report. It analyzes the various distribution channels in Albania. The report enables the reader to interpret future outlook on how the market will shape up by the end of this decade. The communist era in Albania hindered the growth of the insurance sector for more than 50 years. This led the sector behind and underdeveloped compared with other European countries with gross written premium of near 0.66 percent of GDP. With insurance consumption of Euro 20 per capita, the sector remains small. There were 11 companies in the insurance market by the end of 2012. The real growth of insurance premium was 3.0% from 2009 to 2012, tumbling below the cumulative GDP growth over the same period despite a low market penetration rate. The share of life insurance was very low accounting for one tenth share of the total insurance industry in the country. The largest share of the total non-life premium was of motor third-party liability insurance. The industry showed a CAGR of 7.6% during 2010-2014. The insurance sector has relatively low importance in the country’s financial system. In 2014, the banking system made approximately 91.7% of the financial system while the insurance industry made only 1.8% of GDP. To assist the Albanian Financial Supervisory Authority (AFSA) in implementing legal and regulatory reforms to enhance the insurance industry’s supervision and regulation, the World Bank initiated the Albania Insurance Market Reform in 2014. The private agriculture insurance is expected to be carried by an increase in the number of agriculture and related businesses. The country’s population decreased from 3.06 million in 2001 to 2.88 million in 2016 due to increased emigration and falling fertility rate which further decreases insurance incentive. Global Insurance Industry The global insurance industry is forecasted to show growth of 6.3 percent in the coming years. Health insurance sector has shown tremendous growth over past years and continue to remain the major insurance sector at the global market. The macroeconomic environment around the world shows significant improvement in the insurance market i.e. increasing GDP in many countries, expansion of financial resources of middle class and high net worth population. These boost the need for property casualty and life annuity insurance companies. The key challenges for the insurance are increasing competition, tight margin profits and soft pricing conditions. Technological solutions are used by the insurers to improve sales, distribution and customer service. Key Topics Covered in the Report: Detailed analysis of Albania insurers Value and volume analysis for Albania insurers Historic and Forecast value analysis by category Key issues in the market Investor trend framework Analysis of mega-trends To know more on coverage, click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/insurance-industry-albania-key/25247-93.html Related Reports: https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/non-life-insurance-lithuania/21079-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/insurance-united-arab-emirates/28021-93.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Albania Insurance Industry Future Outlook, Albanian Insurance Gross Written Premium, Albanian insurance Industry Research Report, Albanian Insurance Industry-Key Facts, Albanian Insurance Industry-Market future, Albanian Insurance Industry-Market growth, Albanian Insurance Industry-Market Research, Albanian Insurance Industry-Market Share, Albanian Insurance Industry-Market trends, Albanian Insurance Industry-Marketanalysis, Albanian Life Insurance-Segmentation, Albanian Personal Accident and Health Insurance, General Insurance Market Size in Albania, Life insurance Gross Written Premium in Albania, Major players in Insurance Sector Albania, Motor third-party liability insurance Market in Albania