STATISTICS: ALBANIAN insurers' nine months GWP up by3% y-o-y to EUR 105 million

7 November 2019 — Andrei Victor
The insurance market reached over ALL 12.83 billion (EUR 105 million) during period January - September 2019, or 3.04% more y-o-y, informed Albanian FSA. During the analyzed period, the number of issued insurance contracts reached 992,212 showing an increase of 3.83% compared to 3Q 2018.

The market continued to be dominated by Non-Life insurance, which share was 92.73% of the total premium volume, Life insurance and Reinsurance market share was respectively 6.96% and 0.30% of the total premium volume. Market shares of voluntary and compulsory insurance GWP were respectively 36.82% and 63.18%.

The total of paid claims during the period was about ALL 4.27 billion (EUR 35 million) or 5.80% more, compared to period January - September 2018. Most of the gross paid claims were related to motor insurance, about ALL 2.61 billion or 61.10% of total gross paid claims.

The statistics provided by the Albanian FSA include the financial figures from eight insurance companies operating in the country. The largest insurers in the country in terms of GWP were the two local subsidiaries of Austrian UNIQA. SIGAL LIFE UNIQA was the top life insurer (61.84% market share), while SIGAL UNIQA ranked first in the non-life insurance ranking - 25.54% market share.

Access and download the 3Q2019 Albanian insurance market statistics.

  • Albania 3Q2019 Market Portfolio and Insurance Companies Rankings (in EUR and ALL)
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