The entry into force of compulsory insurance should boost the sector’s turnover

According to the General Director of Insurance Supervision Institute, with just four licensed insurance companies out of the twenty-six operating in the market, the insurance activity in the country is likely to contribute with four per cent to the gross domestic product (GDP) for the three years to come. The sector is expected to witness a major growth in business volume, by the implementation of the new compulsory insurance legislation.