Albanian insurers recorded GWP worth EUR 56.44 million in Q1 2025, up by 11% y-o-y. In the same period remained stable, almost unchanged y-o-y (EUR 19.37) million. However, one should note that due to the Albanian currency appreciation vs. the precedent year, the growth rates in European currency are significantly higher than those calculated with the premiums and paid claims values denominated in Albanian Lek.

Despite the above average growth rate recorded for the life insurance segment (17.8% vs. 11%), this line of business continues to hold a small share, of only 9.5%, in the market portfolio.

On the non-life side, GWP grew overall by 10%, to EUR 51%. Property insurance classes saw a negative change of 10% in GWP for fire insurance, to GWP worth EUR 4.27 million, while insurance premiums for damages to property, went up by 17%, to EUR 1.32 million. The overall turnover of the property insurance LoBs remains at modest value, reflecting a significant protection gap.

Motor insurance lines continue to account for over 67% of the total GWP, totaling EUR 38.25 million. The MTPL class (including DMTPL, Green Card and Border Insurance) accounts for the largest part of the total - EUR 34.11 million or 60.44% of the total market GWP. Motor insurance proved to be once again the market driver.

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