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The consequence of financial crises in Albanian insurance market

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Author(s): Filloreta Madani | Edmira Cakrani

Journal: Perspectives of Innovations, Economics and Business
ISSN 1804-0519

Volume: 5;
Issue: 2;
Start page: 50;
Date: 2010;
Original page

Keywords: Insurance market | non-life insurance | compulsory insurance | penetration coefficient.

ABSTRACT
The Albanian insurance market is not influenced considerably from current financial crisis. Early yet phase of development with the very low penetration level explains steadiness of insurance market to exposure influence of global financial crisis. Another factor contributed to stability of insurance market is focusing insurance businesses more on the compulsory insurance segment which is not fully liberalized. Conservative investment policies of Albanian insurers also contributed to avoiding influence of market risks induced by world financial crisis.
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