Albania
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Albania FY2022 Insurance Companies Ranking
Albania FY2022 Market Portfolio
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STATISTICS: Albanian insurers' GWP rise by more than 9% y-o-y in 2022 to EUR 184 million
According to the year-end market figures recently published by Albanian FSA, during January-December 2022 the local insurance market experienced an increase of 9.16% y-o-y to ALL 21.03 billion (~EUR 184 million). At the same time, the number of policies increased by 12.93% compared to January-December 2021 to 1,325,231.
9 February 2023STATISTICS: Albanian insurers' GWP expanded by 9.5% y-o-y during the first three quarters
Albanian insurance market posted January-September 2022 GWP of ALL 15.50 billion (~EUR 133 million), or 9.5% more y-o-y, according to the 3Q2022 figures published on the website of the local financial supervisory authority - AFSA.
24 November 2022STATISTICS: Albanian insurers' business expanded by 10.25% y-o-y in January-June 2022
At the end of June 2022, the Albanian insurance market totaled ALL 9.77 billion (~EUR 82 million), experiencing an increase by 10.25% compared to January - June 2021, official half-year data provided by the Albanian Financial Supervisory Authority (AFSA) showed.
1 September 2022STATISTICS: ALBANIA, 1Q2022: GWP up by 6% y-o-y in Q1 2022; motor insurance classes responsible for 69% of the paid claims
At the end of March 2022, Albanian insurance market totaled ALL 4.28 billion (EUR 35.19 million), or 5.97% more y-o-y. During Q1 2022, the number of concluded insurance contracts reached 247,576 up by 21.99% compared to January-March 2021, official data provided by the Albanian Financial Supervisory Authority (AFSA) showed.
8 June 2022Albanian FSA joins IAIS cooperation and information exchange agreement
The Albanian Financial Supervisory Authority (AFSA) has become a member of the International Association of Insurance Supervisors (IAIS) Multilateral Memorandum of Understanding (MMoU) - an international supervisory cooperation and information exchange agreement.
2 May 2022ALBANIA: in the first two months of the year, non-life recorded a decrease, while life insurance grew
In January-February 2022, GWP of Albanian insurers decreased by 0.82% y-o-y, reaching ALL 2.8 billion (EUR 22.7 million), SeeNews reports citing official figures.
5 April 2022STATISTICS: Albanian insurers posted 16% y-o-y increase in 2021 business
The FY2021 gross written premiums of the eight Albanian active insurers increased by 16.02% y-o-y to ALL 19.26 billion (EUR 159.55 million), official figures published on the website of Albanian Financial Supervisory Authority (AFSA) showed.
2 February 2022ALBANIA: for January-November the market expanded by almost 18% y-o-y
From January to November 2021, GWP of Albanian insurers increased by 17.6% y-o-y, reaching ALL 17.4 billion (EUR 142.8 million), SeeNews informed according to the official figures.
10 January 2022ALBANIA: at the end of October the market expanded by 16.5%
From January to October the Albanian market expanded by 16.5% y-o-y, reaching ALL 15.7 billion (EUR 129.4 million), SeeNews reports with reference to the official figures.
1 December 2021STATISTICS: Albania Q3 2021: MTPL LoBs posted 46% increases in claims and significant positive rates in GWP and contracts
Albanian insurance market posted total Q3 2021 GWP of ALL 14.16 billion (~EUR 116.56 million), or 18.06% more compared to January-September 2020, according to the most recent figures published on the local financial supervisory authority - AFSA.
11 November 2021ALBANIA: in January-August the market expanded by more than 19% y-o-y
From January to August GWP of Albanian insurers expanded by 19.28% y-o-y to ALL 12.7 billion (~EUR 103.3 million*), as official figures showed, SeeNews reports.
4 October 2021STATISTICS: Albanian insurers posted double digit increase in H1 business
According to the H12021 market statistics published by Albanian Financial Supervisory Authority (AFSA), the gross written premiums of Albanian insurers amounted to over ALL 8.86 billion (~EUR 72.28 million), or 17.53% more compared to January-June 2020.
At the same time, the number of concluded insurance contracts reached 467,511 registering an increase of 7.48% compared to January-June 2020.
The insurance market continued to be oriented towards non-life insurance, which brought 92.34% share of the total premium volume, leaving life insurance with 7.65% share of the total premium volume., as AFSA representatives pointed out in a statement published on its website.
At the same time, the number of concluded insurance contracts reached 467,511 registering an increase of 7.48% compared to January-June 2020.
The insurance market continued to be oriented towards non-life insurance, which brought 92.34% share of the total premium volume, leaving life insurance with 7.65% share of the total premium volume., as AFSA representatives pointed out in a statement published on its website.
16 August 2021ALBANIA: in January-May the insurance market expanded by over 15% y-o-y
For the period January-May 2021 the Albanian insurance market generated GWP worth over ALL 7,009 million (~EUR 56.98 million*), or 15.51% more y-o-y. The number of concluded insurance contracts for the period increased by 1.86% y-o-y, according to figures published on the website of ASFA (Albanian Financial Supervisory Authority).
5 July 2021STATISTICS: Albanian market expanded 12.5% y-o-y during first quarter
Albanian insurers' Q1 2021 GWP amounted to over ALL 4.03 billion (EUR 32.80 million), or 12.52% more compared to January-March 2020, according to the quarterly market figures published on the AFSA's website (Albanian Financial Supervisory Authority).
6 May 2021STATISTICS: Albanian insurers' GWP declined by 5.7% last year
The aggregate GWP by Albanian insurers decreased by 5.73% y-o-y in 2020, to ALL 16.60 billion (EUR 134.26), official figures published by Albanian Financial Supervisory Authority showed.
11 February 2021STATISTICS: ALBANIA, 3Q2020: Insurers' GWP down by 6.54% y-o-y
Albanian 3Q2020 GWP amounted to over ALL 11,999 million (EUR 96.73 million), or 6.54% less compared to January-September 2019, according to the quarterly figures published by Albanian Financial Supervisory Authority (AFSA).
5 November 2020STATISTICS: ALBANIA, 1H2020: Insurers' January-June GWP compressed by 6.7% y-o-y
According to the six months 2020 market statistics published by Albanian Financial Supervisory Authority (AFSA), the gross written premiums of Albanian insurers amounted to over ALL 7.54 billion (~EUR 60.67 million*), or 6.66% less compared to January-June 2019.
13 August 2020ALBANIA: Insurance market decreased by almost 10% y-o-y for the first five months of 2020
From January to May 2020, the Albanian insurance market amounted to ALL 6.07 billion (~EUR 48.8 million*), 9.99% less y-o-y, the total number of concluded insurance contracts dropping by 26.53%, according to figures published on the website of ASFA (Albanian Financial Supervisory Authority).
9 July 2020STATISTICS: ALBANIA, 1Q2020: Insurers reported huge increase in property claims
According to the first-quarter 2020 figures published by the Albanian Financial Supervisory Authority (AFSA), the local insurance market amounted to over ALL 3,590 million (~EUR 27.47 million*), or 9.56% less compared to January - March 2019.
11 June 2020STATISTICS: ALBANIA, FY2019: market ended 2019 with a 4% growth in annual sales
Albanian insurance market reached over ALL 17.6 billion (EUR 145 million) during year 2019, or 4.11% more y-o-y, according to the market figures published on the AFSA's website.
20 February 2020
