Location map
author: OCHA/ ReliefWeb

- Southeastern Europe, bordering the Adriatic Sea and Ionian Sea;
- Neighbours: Greece, Montenegro, Kosovo, Serbia, Macedonia.

- mild temperate; - cool, cloudy, wet winters;
- hot, clear, dry summers;
- interior is cooler and wetter.

Natural hazards:
- destructive earthquakes;
- tsunamis occur along southwestern coast;
- floods;
- drought.

Macro indicators
* 2018 estimates
Pop. density*:99.8people/km2
GDP*:13.4EUR billion

European Union:
Official candidate

Currency: Lek
Code: ALL
Since: 1926

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:68%




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Albania 1H2023 Market Portfolio

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Albania 1H2023 Insurance Companies Ranking

See all statistics

Latest news

STATISTICS: ALBANIA, 1Q 2023: strong growth driven by the motor insurance segment

Albanian insurers recorded GWP worth EUR 45.42 million in Q1 2023, up by 29% y-o-y. In the same period, paid claims rose by 18.3% y-o-y, to EUR 14.23 million. However, one should note that due to the Albanian currency appreciation vs. the precedent year, the growth rates in European currency are significantly higher than those calculated with the premiums and paid claims values denominated in Albanian Lek.

STATISTICS: 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.

ALBANIA: 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).