THE CONSEQUENCE OF FINANCIAL CRISES IN ALBANIAN INSURANCE MARKET

Filloreta Madani and Edmira Cakrani
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Filloreta Madani: Department of Finance, Economics Faculty, University of Vlore, Albania
Edmira Cakrani: Department of Finance, Economics Faculty, University of Vlore, Albania

Perspectives of Innovation in Economics and Business (PIEB), 2010, vol. 5, issue 2, 50-52

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.

Keywords: Insurance market; non-life insurance; compulsory insurance; penetration coefficient. (search for similar items in EconPapers)
JEL-codes: G22 G32 (search for similar items in EconPapers)
Date: 2010
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