Albania
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Albania FY2022 Insurance Companies Ranking
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ALBANIA: Authority launches MTPL damage registry
The Albanian Financial Supervisory Authority (AFSA) has announced the launch of a public online registry of all damages incurred for MTPL insurance policies, the insurance consumers being able to follow the course of their indemnities based on a unique identification number.
11 February 2020ALBANIA: from January to November 2019 over 55% of paid claims fell on motor insurance
Between January and November 2019, the Albanian insurance market exceeded ALL 15.63 billion/ EUR 0.13 billion (+3.20% y-o-y) in premiums. Market paid claims for the period amounted to about ALL 5.48 billion (11.13% less y-o-y), as the data of the Financial supervisory authority (AMF) show.
7 January 2020ALBANIA: Economic losses of more than USD 100 million after strongest earthquake in decades
More than 21 people have been killed and over 600 more injured after Albania was rocked by its strongest earthquake in decades, informed Euronews Albania, though many expect the number to increase.
27 November 2019STATISTICS: ALBANIAN insurers' nine months GWP up by3% y-o-y to EUR 105 million
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.
7 November 2019ALBANIA: unpaid social insurance debt of private taxpayers reached USD 100 million
Total unpaid social insurance debt of private companies in Albania reached about USD 100 million, Albanian Daily News reports.
7 November 2019ALBANIA: market increase of 2.33% y-o-y with non-life occupying over 92% from January to August
The Albanian market reached over ALL 11.36 million (~EUR 0.09 million) from January to August 2019, 2.33% more y-o-y. The total number of insurance contracts amounted to 885,298 (+4.72%). Paid claims reached about ALL 3.94 million (+9.99% y-o-y), as data from the Financial Supervisory Authority of Albania show.
3 October 2019ALBANIA: Ervin METE appointed as Chairman of AFSA
On September 12, 2019, The Albanian Parliament approved the proposal of Ervin METE as Chairman of the Board for The Albanian Financial Supervision Authority (AFSA).
18 September 2019STATISTICS: Albanian insurers' H1 premiums up by 5% y-o-y
The gross written premiums of Albanian insurers increased by 5% year-on-year in the first half of 2019, reaching ALL 8 billion (EUR 66 million), official market statistics show.
5 September 2019Albanian insurers' Jan-May gross written premiums up 7.6%
2 July 2019Albanian insurers' Jan-April gross written premiums up 8.3%
5 June 2019STATISTICS: ALBANIA, 1Q2019: insurers' Q1 GWP up by more than 10% y-o-y
The gross written premiums of Albanian insurers increased 10.8% y-o-y during January-March 2019, reaching ALL 3.93 billion or EUR 31.3 million, as the official figures provided by the Albanian FSA showed.
23 May 2019OTP wraps up acquisition of Societe Generale Albania business
8 April 2019ALBANIA: AFSA introduces MTPL Bonus-Malus system
The Albanian Financial Supervisory Authority (AFSA) has approved sets of instructions for Bonus-Malus system implementation. The Bonus-Malus system will begin to function in Albania starting April 1, 2019.
4 April 2019Albanian insurers' Jan gross written premiums rise slightly
3 March 2019Insurance market in Albania under investigation
10 February 2019STATISTICS: ALBANIA, FY2018: Paid claims and indemnities expanded by a quarter during 2018
The Albanian insurance industry totaled over ALL 16.19 billion (~EUR 136.7 million) at the end of 2018, or 4.7% more y-o-y. The number of issued insurance contracts reached 1,309,143 showing a y-o-y increase of 5.89%, according to data published by the Albanian Financial Supervisory Authority (AFSA).
30 January 2019Albanian insurers Jan-Nov gross written premiums up 6%
2 January 2019STATISTICS: ALBANIA timeline 2008 - 2017: the market increased twofold, but life insurance remained underdeveloped
The Albanian insurance market grew between 2008-2017 on all segments, both in GWP and in paid claims terms. There is only one exception to this generalized upward trend, that is, the indemnities paid chapter on the property class " fire and allied perils insurance", which dropped 18.04%.
20 December 2018Albanian insurers Jan-Oct gross written premiums up 5.1%
27 November 2018STATISTICS: ALBANIA 3Q2018: motor insurance lines' market weight increased to nearly 70%
Albanian insurers have reported GWP worth EUR 98.7 million (ALL 12.46 billion) in 3Q2018, up by 9.73% y-o-y. For the same period, paid claims have decreased by 3.12% y-o-y, to EUR 26.86 million. The local subsidiaries of the Austrian group UNIQA lead both the life and non-life insurance segments.
1 November 2018
