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

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 = 135.23 Lek - ALL (December 31st, 2016)
1 EUR = 137.28 Lek - ALL (December 31st, 2015)
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)

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

Insurance statistics

1H2017Market Portfolioxlsx
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1H2009 Market portfolio xls
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2009Albanian insurance market overview pdf
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Albania FY2018 Insurance Companies Ranking

Albania FY2018 Market Portfolio

See all statistics

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%.

ALBANIA FY2013: insurers' GWP fell by 4.6% y-o-y

Albanian insurance market totaled ALL 8.53 billion (EUR 60.88 million) at the end of 2013, or 4.63% less y-o-y, according to the preliminary financial data published by the Albanian Financial Supervisory Authority (FSA). The downward trend was felt in the decrease of the number of insurance contracts, which showed a 5.87% decrease y-o-y to 995,732.

ALBANIAN insurers reported a decrease of 9.3% y-o-y in 3Q2013

Albanian insurance companies posted gross written premiums for the period January-September 2013 of ALL 5.92 billion (EUR 41.9), or a 9.28% decrease compared to the same period last year, according to data provided by the Albanian Financial Supervisory Authority. During the analyzed period, the number of signed insurance contracts was 757,328 showing a decrease of 3.05% y-o-y.

ALBANIA looks to regional insurance

As disasters continue to cost Albania dearly the country is cooperating on the launch of an innovative regional insurance scheme to complement a stronger domestic approach to disaster risk management.

ALBANIA, 1H2013: compulsory insurance lines account for 43% of GWP

MTPL remains the most important product sold on the market, while on the life insurance side, debtors' life is the main product, where banks are the beneficiaries. According to Enkeleda SHEHI, Chairperson for the Albanian FSA, "in terms of potential for future growth, health and life insurance have shown to have a high potential for growth in the last years. However, it should be noted that the low penetration on the market (0.67%) could be interpreted as an indication that the market is not only underserved and operating far from its potential, but also in general it presents opportunities to unlock in the future, especially in property, life and health insurance."

ALBANIA: 40% of vehicles without insurance

Nearly 40 percent, or more than 100.000 vehicles circulating in Albania's roads have no car insurance at all, according to the data unveiled by country's finance authorities.