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Considerations on Albanian Life Insurance Market

Author

Listed:
  • 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)

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.

Suggested Citation

  • Gentiana Sharku & Brikena Leka & Etleva Bajrami, 2011. "Considerations on Albanian Life Insurance Market," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 14(39), pages 133-150, March.
  • Handle: RePEc:rej:journl:v:14:y:2011:i:39:p:133-150
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    More about this item

    Keywords

    non-bank financial institutions; life insurance; financial system; density rates; penetration rates.;

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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