STATISTICS: Albanian insurers posted 16% y-o-y increase in 2021 business

2 February 2022 — Andrei Victor

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.

Gross written premiums from non-life insurance increased by 15.40% y-o-y to ALL 17.81 billion, while the life insurance segment earned premiums of ALL 1.43 million, up by 22.74% y-o-y, according to figures published AFSA.

The number of policies was 1,173,520, an increase of 22.7 % vs. 2020. The number of Non-Life insurance policies was 1,067,850, with an increase of 23.2% compared to year 2020, while the number of Life insurance policies was 105,646, an increase by 17.79% y-o-y.

Total gross claims paid fell to ALL 6.66 billion in the review period from ALL 7.49 billion a year earlier. The number of claims paid in year 2021 was 52,780 an increase by 4,599 compared to year 2020. Of those, 50,541 claims were paid by Non-Life Insurers and 2,239 by Life insurers.

Access xprimm.com and download the latest Albanian insurance market statistics (in EUR and ALL).

 

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