How much were the damages from accidents covered in 2024? - AMF: Record figures of payments from companies. Green Card, increase by 98%
The year 2024 has closed with a positive balance in terms of claims paid by life and non-life insurance companies. The latest data from the Financial Supervisory Authority shows that during the past year there was a 24% increase in claims paid by insurance companies. Specifically, the total value of claims payments results in 8.6 billion lek, while 72% of them were paid within the framework of vehicle insurance.
If we compare claims based on number, it turns out that in 2024 over 73 thousand claims were paid, 70 thousand of which were from Non-Life insurance companies and 3 thousand from Life insurance companies. The number of claims paid for life insurance results in a decrease of 25%, while those for non-life insurance increased by 19%.
But which non-life insurance product has had the greatest increase in claims paid?
Claims paid for Green Card have experienced a record increase of 98% compared to 2023. Meanwhile, the value of claims payments for domestic MTPL and border insurance is significantly lower, 26% and 17% respectively. During 2024, gross written premiums for border insurance also experienced a significant decrease.
Despite an increase in the number and total value of claims paid in 2024, pending claims, i.e. claims that have not yet been paid or have been submitted to court, have also increased. Official statistics show around 6.9 billion in pending claims from non-life insurance companies in 2024.
A higher number of claims paid in 2024 is also related to the record number of accidents recorded during that year. According to the Statistical Institute, the number of accidents increased by almost 30% compared to 2023.
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