STATISTICS: ALBANIA, FY2019: market ended 2019 with a 4% growth in annual sales

20 February 2020 — Andrei Victor
Albanian insurance market reached over ALL 17.6 billion (EUR 145 million) during year 2019, or 4.11% more y-o-y, according to the market figures published on the AFSA's website.

The total volume of claims paid was about ALL 6.37 billion (~EUR 52 million) or 8.58% less compared to year 2018.

During the analyzed period, the number of issued insurance contracts reached 1,350,075, showing an increase of 3.18% compared to year 2018.

In terms of premiums, the market continued to be dominated by non-Life insurance lines, which share was 92.73% of the total premium volume. At the same time, life insurance and reinsurance accepted share in total GWP was respectively 6.90% and 0.37%. Market shares of voluntary and compulsory insurance gross written premiums were respectively 36.30% and 63.70%.

The local subsidiaries of Austrian insurer UNIQA dominated the two main sectors of business. Thus, the largest life insurer in the country was SIGAL UNIQA Life (59.5% market share), while SIGAL UNIQA accounted fot about 29% of non-life GWP.

Access and download the FY2019 Albanian insurance market statistics.

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