Insurance companies and ranking based on the ratio of paid damages versus premiums collected in 2012

Open Data Albania has conducted a research on the ratio of paid damages per insurance companies against premiums collected by category. The report is based on data from the Financial Supervision Authority. At the end of 2012 it results that the company which has paid more damages versus premiums collected has a ratio of 56.3% .

Ratio of paid damages versus premiums collected per insurance companies for 2012 (in %)



^{SOURCE: Financial Supervisory Authority
Processing and comments: ODA}

Companies ranking according to this index in some way refers to the quality and level of service of companies to consumer- clients. But this fact involves also the companies durability in the market.

Gross Paid Damages in Non-Life Insurance per insurance companies for 2012 ( in 000/lekë)



^{SOURCE: Financial Supervisory Authority
Processing and comments: ODA}

In terms of motor insurance, which is the one that dominates the non- life market , the company with the highest ratio of paid damages /against damages collected has reached a level of 57% of premiums collected paid in damages in the motor insurance.

Ratio of paid damages against the insurance premiums collected by insurance companies in motor sector for 2012 (in%)

^{SOURCE: Financial Supervisory Authority
Processing and comments: ODA}

At a lowest level of indemnity is “fire, force of nature and other damages to property” insurance, where the company with the highest ratio of premiums collected towards paid damages has reached a level of 25.2 %.

Ratio of paid damages versus collected premiums in fire insurance , forces of nature and other damages to property for 2012 (in % )

^{SOURCE: Financial Supervisory Authority
Processing and comments: ODA}

Activity of non- life insurance started more than 14 years ago. The company which has launched the first activity in the market of non-life insurance is Sigma Vienna Insurance Group, on 3 February 1999. Further dates for respective companies are presented in the following table.

SOURCE: Financial Supervisory Authority
Processing and comments: ODA