Albania

Location:
Southeastern Europe, bordering the Adriatic Sea and Ionian Sea, between Greece in the south and Montenegro and Kosovo to the north

Climate:
mild temperate; cool, cloudy, wet winters; hot, clear, dry summers; interior is cooler and wetter

Natural hazards:
destructive earthquakes; tsunamis occur along southwestern coast; floods; drought

Macroeconomic data (xls)






Currency: Leka

1 EUR = 140.14 Lek - ALL (December 31st, 2014)
1 EUR = 140.20 Lek - ALL (December 31st, 2013)
1 EUR = 139.59 Lek - ALL (December 31st, 2012)
1 EUR = 138.93 Lek - ALL (December 31st, 2011)
1 EUR = 138.77 Lek - ALL (December 31st, 2010)

Sources:
Albanian Financial Supervisory Authority (AFSA)
Albanian Insurers Association
Bank of Albania

Insurance statistics

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FY2016
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FY2015
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FY2014
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3Q2014
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1H2014Insurance market overview pdf
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FY2013Insurance market overview pdf
FY2013
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3Q2013
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3Q2013Market Portfolioxlsx
1H2013Insurance market overview pdf
1H2013
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FY2012Insurance market overview pdf
FY2012
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3Q2012Market portfolioxlsx
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1H2012Insurance market overview pdf
1H2012Market portfolioxlsx
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1Q2012Market portfolioxlsx
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FY2011Insurance market overview pdf
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3Q2011Market portfolioxlsx
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1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2010Insurance market overviewpdf
1H2010Market portfolio and rankingsxlsx
1H2009
Albanian insurance market overview pdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Albanian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls

1H2017 Market Portfolio

1H2017 Insurance Companies Rankings

See all statistics

STATISTICS: ALBANIAN insurers' GWP up 14.41% in Q1

The Albanian insurance market reached ALL 3.02 billion (EUR 21.53 million) in the January-March 2015 period, or 14.41% more y-o-y, the official statistics published by the Albanian Financial Supervisory Authority - AFSA indicated. The value of claims paid by local insurers increased by 18.61%, to ALL 705.51 million.

VIG's gross written premiums in ALBANIA rise 40.4% in 2014

The Vienna Insurance Group (VIG) said its gross written premiums from operations in Albania rose 40.4% in 2014. VIG said on Tuesday it achieved a double-digit increase in premiums of 14.5% in local currency in its Remaining markets region, comprising Albania, Bosnia and Herzegovina, Bulgaria, Germany, Estonia, Finland, Georgia, Croatia, Hungary, Lithuania, Latvia, Moldova, Macedonia, Serbia, Turkey, and Ukraine.

ALBANIA insurers' premium income rises 18.8% in Jan

The combined premium income of Albanian insurers rose by an annual 18.8% to about 1.2 billion leks in January, official statistics indicated. The number of signed insurance contracts increased by 2.1% year-on-year to 74,401 in January, the Albanian Financial Supervisory Authority said in a statement published on Wednesday on its website.

STATISTICS: Compulsory motor insurance pushed up the ALBANIAN market by 36.2% in 2014

Albanian insurers reported gross written premiums of ALL 11.6 billion (EUR 83 million) at the end of 2014, or 36.2% more y-o-y, being strongly influenced by the positive growth rates recorded by the three compulsory motor classes: DMTPL (+89%), Green Card (+57%) and Border policies (+50%). At the same time, the aggregate value of paid claims was approximately ALL 2.8 billion (EUR 20 million) or 4.7% more compared with FY2013, according to the financial data published by the Albanian Financial Supervisory Authority (AFSA). "The number of issued insurance contracts reached 1,032,554 showing an increase of 3.69% compared to last year", the AFSA said in a statement published on its website.

ALBANIAN Parliament approves the nominations for Board members of the FSA

In its plenary session, the Albanian Parliament approved today, on 24 December 2014, three nominees as the Board members of Financial Supervision Authority (FSA). With the majority of votes were approved Mrs. Enkeleda Shehi, Mrs. Mimoza Kaci and Mr. Arjan Salati as members of the Board of FSA. Mrs. Enkeleda Shehi, proposed by the Council of Ministers, will hold the position of Executive General Director. Mrs. Mimoza Ka

STATISTICS: ALBANIA 3Q2014: The stabilization of MTPL tariffs pushed up the market by more than 45%

The insurance premium revenues for January-September 2014 were about ALL 8,585 million (EUR 61.4 million), or 45.21% more compared to the January-September 2013, Albanian Financial Supervisory Authority (AFSA) informed. Payment of claims, during the period January-September 2014, increased by 1.40% compared to January-September 2013. Most of the gross paid claims were related to motor insurance, about ALL 1,662 million (EUR 11.9 million) or 83.08% of total gross paid claims.

ALBANIAN insurers' GWP rises 34.6% during first half

For the first six months of the current year, Albanian insurers reported gross written premiums of ALL 5.32 billion (~EUR 38 million), 34.6% more y-o-y, the official statistics published by Albanian Financial Supervisory Authority (AFSA) indicated. The number of new insurance contracts decreased by 1.34% y-o-y to 447,244 through June, AFSA noted in a statement.

MTPL pushed the ALBANIAN market by 26.6% y-o-y in Q1

According to the Albanian FSA - the insurance premium revenues for January-March 2014 were about ALL 2,640 million (~EUR 18.8 million), or 26.61% more y-o-y. At the same time, during the analyzed period, the number of signed insurance contracts was 204,660, showing a decrease of 12.08% compared to January-March 2013. The market continued to be dominated by non-life insurance (89.36% of the total premium volume). The life insurance market held 10.06% and reinsurance - 0.58%.