Albania

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe, bordering the Adriatic Sea and Ionian Sea;
- Neighbours: Greece, Montenegro, Kosovo, Serbia, Macedonia.

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.


Macro indicators (* 2018 estimates)
Surface:28,748km2
Population*:2.9million
Pop. density*:99.8people/km2
GDP*:13.4EUR billion
GDP/capita*:4,648.9EUR

European Union:
Official candidate


Currency: Lek
Code: ALL
Since: 1926

Exchange rates at December 31st:

1 EUR = 123.42 ALL (2018)
1 EUR = 132.95 ALL (2017)
1 EUR = 135.23 ALL (2016)
1 EUR = 137.28 ALL (2015)
1 EUR = 140.14 ALL (2014)
1 EUR = 140.20 ALL (2013)
1 EUR = 139.59 ALL (2012)
1 EUR = 138.93 ALL (2011)
1 EUR = 138.77 ALL (2010)


Sources:





 


Statistics

Abania 1Q2019 Market Portfolio

Albania 1Q19 Insurance Companies Ranking


See all statistics

Latest news



STATISTICS: ALBANIAN insurers posted about EUR 79 million in GWP at the end of September

The Albanian insurance market reached over ALL 10.8 billion (EUR 78.6 milion) for the period January - September 2016, or 7.2% more y-o-y, according to the quarterly market statistics published by AFSA - Albanian Financial Supervisory Authority. During the analysed period, the number of issued insurance contracts reached 808,881 showing a decrease of 0.4% y-o-y. The total of paid claims was about ALL 2.9 million or 27.8% more, compared to the period 3Q 2015.

ALBANIAN insurers' Jan-Aug GWP rise 4.6% y/y

Albanian insurers' gross written premiums rose 4.6% on the year, reaching 9.4 billion leks (68.4 milion euro) for the first eight months of 2016, the country's financial supervisory authority AMF said on Friday.

ALBANIAN insurers' GWP rise 3% y/y in Jan-July

Albanian insurers' gross written premiums rose 3% on the year to 7.96 billion leks (64.9 million euro) in the first seven months of 2016, the country's financial supervisory authority said.


STATISTICS: ALBANIAN insurers GWP down by 2.7% y-o-y in Q1

The Albanian insurance market reached GWP of over ALL 2,939 million (EUR 21.2 million) for the period January-March 2016, or 2.70% less y-o-y. During the analysed period, the number of issued insurance contracts reached 222,422 showing a decrease of 1.29% y-o-y.


ALBANIA sells insurer Insig to local peer Eurosig

Albania's government said it chose local non-life insurance company Eurosig as the buyer of 100% of life and non-life insurer Insig for 2.2 billion leks (15.9 million euro). The buyer should transfer the agreed price within 30 days of the decision's publication in the Official Gazette, the government said in a notice published on its website on Wednesday.

ALBANIA gets four bids for insurer INSIG privatisation

Albanian finance ministry said it has received four offers in a tender for the privatisation of 100% of the country's former insurance monopoly INSIG, with the highest bid standing at 2.2 billion Albanian leks (16 million euro).


ALBANIA: New attempt for INSIG's privatization

The Albanian government is making a new attempt to privatize INSIG, offering the whole state owned package of shares for EUR 15.3 million. There were several other tenders opened in the past with the same purpose, the highest being placed in 2009 by American Reserve life Insurance, amounting to EUR 25 million for 61% of the share capital. At the time the sale failed because of the financial crisis.

STATISTICS: ALBANIA 3Q2015: Life insurance loses ground; non-life remains in the double digit growth territory

Albanian's insurance market uptrend continued in the third quarter of 2015, with GWP increasing by about 17% y-o-y, to ALL 10.07 billion (EUR 71.76 million). However, as compared with the results reported in the previous quarters, the market dynamic is slowing down, as the impact of the strong increase in the MTPL prices is somehow dissipating after more than one year from the FSA's corrective measures enforcement.



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