Considerations on Albanian Life Insurance Market

Gentiana Sharku (), Brikena Leka () and Etleva Bajrami ()
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Gentiana Sharku: Department of Finance, Faculty of Economy, University of Tirana, Albania
Brikena Leka: Department of Finance, Faculty of Economy, University of Tirana, Albania
Etleva Bajrami: Department of Finance, Faculty of Economy, University of Tirana, Albania

Romanian Economic Journal, 2011, vol. 14, issue 39, 133-150

Abstract: The life insurance sector is an important sector of the economy all over the world. Life insurance provides the economy and the individuals as well, a variety of fundamental financial services. Regardless the importance it has all around the world, life insurance market in Albania is still underdeveloped comparing not only to the Western European countries, but to the region countries as well. The comparative analysis of insurance market is carried out by means of two indexes: insurance density and penetration index. The life insurance market in Albania is facing several problems which will be further explained in the paper, together with some recommendations to be taken in account by Albanian insurance companies and the Albanian government as well.

Keywords: non-bank financial institutions; life insurance; financial system; density rates; penetration rates. (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2011
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