The Albanian insurance market reached over ALL 3.45 billion (EUR 25.4 million) during Q1 2017, or 17.62% more y-o-y, according to the quarterly statistics published by the local Financial Supervisory Authority.

During the analysed period, the number of issued insurance contracts reached 275,020 showing an increase of 23.65% compared to Q1 2016.

The market continued to be dominated by Non-Life insurance, which share was 92.67% of the total GWP. Life insurance and Reinsurance market share was respectively 7.31% and 0.02% of total.  

At the same time, market shares of voluntary and compulsory insurance GWP were respectively 39.71% and 60.29%.

As of end-March the main player on the life insurance segment in Albania remained SIGAL Life UNIQA Austria with 63% market share, followed by SICRED with 30% and INSIG with 8% share.

On the non-life insurance segment, the largest insurer as GWP was SIGAL UNIQA Group Austria with 29% share, ahead of EUROSIG (16%) and SIGMA INTERALBANIAN VIG (15%).

Access www.xprimm.com and download the 1Q2017 Albanian insurance market statistics.

Market indicators (in EUR and ALL):

• GWP
• Claims 
• Growth rates
• Portfolio

Life and non-life market rankings (in EUR and ALL) - GWP/Claims/rates/shares.