From January to May 2020, the Albanian insurance market amounted to ALL 6.07 billion (~EUR 48.8 million*), 9.99% less y-o-y, the total number of concluded insurance contracts dropping by 26.53%, according to figures published on the website of ASFA (Albanian Financial Supervisory Authority).
According to the first-quarter 2020 figures published by the Albanian Financial Supervisory Authority (AFSA), the local insurance market amounted to over ALL 3,590 million (~EUR 27.47 million*), or 9.56% less compared to January - March 2019.
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 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.
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.
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.
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.
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.
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).
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.
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.
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.
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).