STATISTICS: Albanian market expanded 12.5% y-o-y during first quarter

6 May 2021 —
STATISTICS: 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). 

During the analyzed period, the number of concluded insurance contracts reached 202,944 registering a decrease of 15.61% compared to Q12020.

The insurance market continued to be oriented towards non-life insurance, which brought a ~93% share of the total premium volume, leaving life insurance with a 7.27% share (about ALL 294 million, or 10.34% more y-o-y) of the total premium volume.

Seen from the market segmentation perspective, by the following insurance types: compulsory and voluntary, the voluntary insurance written premiums account for 44.10% and compulsory insurance written premiums account for 55.90% of the total market.

In the period January-March 2021, gross paid claims in insurance market amounted to about ALL 2.08 billion (EUR 16.90 million), or 8.27% y-o-y. The highest share of the gross paid claims belongs to insurance Motor Insurance (MoD, DMTPL, Green Card and Border policies, summed-up) with about AL 1 billion, or 48.34% of the total gross paid claims.

Access xprimm.com and download the Q12021 Albanian insurance market statistics.





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