Insurance companies raise profits

Insurance companies raise profits

The Financial Supervisory Authority declared that the growth of income that insurance companies have collected by the increased price of vehicle insurance, a development that stabilizes the market.

“40% might seem a big increase, but as regards terms, they simply brought the price to what it should really be”, declared Elisabeta Shehi, chairwoman of the AMF.

But if the revenues of companies increased with 36.19%, the damage they are paying back have increased with 4.6%, 10 times less.

“Where did this money go? What reason is there? Why did they have to increase insurance price”. Asked the Democratic Party MP, Sherefedin Shehu.

The Authority say some of that was used to pay debts that companies had due to uninsured machineries.

“This has not calculated the effect for paying the compensation damage funds, which for this year mounted up to 451 million ALL. With this number, the indicator would be very high”, declared Elizabeta Shehi.

Citizens have paid through insurance accidents of uninsured vehicles, which are still in high numbers.

“Our data show that thanks to the connections with the General Director of Transportation Services, 27% of the vehicles are not insured”, Elizabeta Shehi said.